In this edition of our Asset Flow Insights, we'll explore the top three DEXes on Mantle Network by cmETH deposits from Oct, 6 to Oct. 19, 2025.
ETH yields across major liquid staking providers have remained relatively stable since our last report, ranging from 2.43% to 3.3% APY. The underlying mETH yield for cmETH currently offers a base yield of 2.56%, tracking closely alongside leading peers such as stETH (2.6%), rETH (2.43%), and eETH (3.3%).
On Mantle Network, cmETH deposits saw positive percent increases across their top three native DEXs ranked by TVL: Merchant Moe, Agni, and WOOFi, experiencing increases of 21.08%, 3.86%, and a slight decrease of 0.35% respectively.
Below, we'll breakdown each protocol and their yield offerings.
Merchant Moe
Though the cmETH/wETH pool on Merchant Moe saw its total size moderate, it continues to demonstrate robust trading activity and efficient capital turnover. The pool's liquidity base is strong, increasing 3.7% to over $860K.
Concurrently, 24-hour trading volume experienced a lift, rising 17.43% to surpass $1.9M. 24-hour fees experienced a 7% uptick, and daily volume still serves as more than double the total liquidity, confirming high capital efficiency and active demand from traders for this specific pair.
Agni
The wETH/cmETH pool on Agni Finance holds a substantial $41.02M TVL, making it one of the deepest liquidity venues on Mantle. Over the past 24 hours, it recorded $370.46K in volume; modest relative to its size, indicating low turnover but strong liquidity depth. With 348.81 wETH and 9,236.71 cmETH supplied, the pool provides balanced exposure and minimal slippage for larger trades, reflecting stable, long-term capital.
WOOFi
WOOFi’s cmETH Supercharger Vault maintains a TVL of $583.27K, earning a steady APR of 3% that reflects a conservative yield profile. The current utilization rate (Loan/TVL) stands at roughly 76%, indicating healthy lending activity without over-leveraging risk. A borrow rate of 0.57% further suggests modest credit demand, aligning with the vault’s low-risk positioning and consistent, sustainable returns.
*All statistics are obtained as of Oct. 20, 2025.
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