This Week’s Top Yield Opportunities: Mantle & HyperEVM Edition

As we enter the final quarter of 2025, both the Mantle and Hyperliquid ecosystems have seen strong institutional and on-chain adoption, driven by increasing participation in yield strategies and new integrations.

ETH yields across major liquid staking providers have increased since our last report, ranging from 2.66% to 3.2% APY. mETH currently offers a base yield of 2.66%, tracking closely alongside leading peers like stETH (2.6%), rETH (2.41%), and eETH (3.2%).

Below, we highlight leading yield opportunities across Mantle and HyperEVM, offering a closer look at performance trends and partner activity shaping what’s next.

Top Yields on Mantle Network

Across Merchant Moe, Lendle, and INIT Capital: mETH and cmETH yields spanned from 2.66% to 6.02% base APR, respectively.

Merchant Moe

The cmETH/wETH pool on Merchant Moe demonstrated steady growth in both liquidity and trading activity. Liquidity increased by 5.17% to $1.13M, while 24-hour volume rose by 35.80% to $2.58M. With daily volume exceeding total liquidity by more than twofold, the pool effectively cycled its capital multiple times per day. This high turnover reflects efficient liquidity utilization and consistent trader participation.

Lendle

The cmETH market on Lendle holds over $2.43M+ in total supply, maintaining ample liquidity with a conservative 1.58% utilization rate. While borrow demand remains light, this structure provides significant capacity for growth and ensures stable lending conditions. A 54% health factor suggests active borrowers are operating with thinner collateral buffers, though the pool overall remains well-capitalized and positioned for sustainable expansion as utilization begins to rise.

INIT Capital

The mETH market on INIT Capital maintains a deep liquidity base, with $3.41M+ mETH supplied and 3.76% utilization rate, indicating strong depositor confidence and ample capacity for future borrowing growth. With only $128K currently borrowed, the pool remains well-capitalized and positioned to scale lending activity efficiently as market demand strengthens.

Top Yields on HyperEVM

While our Spectra pool has reached maturity, our remaining HyperEVM integrations continue to hold strong. INFINIT yields start at 5.98% APY, followed closely by HypurrFi at 3.01%, Mizu at 2.07%, Morphobeat at 1.61%, and HyperSwap at 0.21%. Overall, these rates stayed quite positive, with Morphobeat seeing the most significant increase of ↑37.6% respectively from our previous snapshot.

HypurrFi

HypurrFi continues to see strong demand for its cmETH/uETH isolated market, with 83.63% of supplied uETH currently borrowed and over 86.37 cmETH locked as collateral. This slight uptick in utilization alongside a reduction in cmETH collateral suggests participants are deploying their capital more efficiently. Rather than de-risking, participants appear to be maintaining or even expanding their leveraged exposure with leaner collateral, reflecting confidence in the protocol's stability.

Morphobeat

Morphobeat continues to show strong momentum, with total deposits increasing to $4.71M+, a 36.5% increase from our previous snapshot. Utilization rates rose 8.4%, reaching 91.02%, now sitting 1.02% above the 90% target, reflecting heightened borrowing demand and efficient capital deployment. Overall, these shifts point to increasing confidence and sustained appetite for leveraged cmETH strategies.

*All statistics are obtained as of Oct. 6, 2025.