Mellow vaults
About Mellow
Vault infrastructure for curated on-chain structured products and platform Earn programmes.
The current listing contains $111.4M TVL in 4 vaults with a TVL-weighted average APY of 6.5% (annualised, last 30 days).
Mellow provides vault smart contract primitives for deploying curated on-chain structured products with explicit risk constraints. Core Vaults separate depositors from curators: depositors supply capital, while curators operate strategies inside on-chain permissions, limits and execution rules.
Mellow Core Vaults are not ERC-4626 contracts. A canonical vault coordinates a component graph that includes tokenised share managers, per-asset deposit and redemption queues, an oracle, fee manager, risk manager and controlled subvaults. The shared vault scanner treats Mellow as a sibling EVM vault architecture and routes factory-discovered Core Vaults through the Mellow adapter for metadata, fee and share-price reads.
Key features:
- Modular Core Vault architecture for curated on-chain structured products
- On-chain risk boundaries through permissions, verifier contracts and asset limits
- Oracle-driven share accounting and asynchronous deposit and redemption queues
- Tokenised ShareManager support for vault share supply and ERC-20 metadata
- Public Core Vault factory deployments on Ethereum mainnet, Plasma, Arbitrum and Monad
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Performance and risk
The vaults on the listing are limited to the current category. See all vaults.
| 3M price | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Experimental earnUSD Mellow | 8.0% | 7.8% | 2.0% | 37.5 | 0.2% | 0.0% | USDC | $37.01M $37.01M | 0.3 | 0.0%/ 0.0% | Unknown | Low |  | ||
Lido Earn USD Mellow | 6.5% | 6.6% | 1.7% | 45.8 | 0.1% | 0.0% | USDC | $52.78M $52.80M | 0.3 | 0.0%/ 0.0% | Unknown | Low |  | ||
Conservative earnUSD Mellow | 5.0% | 4.5% | 1.1% | 32.7 | 0.1% | 0.0% | USDC | $16.02M $16.02M | 0.3 | 0.0%/ 0.0% | Unknown | Low |  | ||
Mezo Stable Vault Mellow | 0.0% | 0.0% | 0.0% | --- | 0.0% | 0.0% | USDC | $5.58M $5.58M | 0.3 | 1.0%/ 20.0% | Unknown | Low |  |
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