Overview
Aurelius is a lending protocol on Mantle Network, providing standard money market services — lending, borrowing, and liquidation. The protocol benefits from Mantle's robust ecosystem growth and the significant TVL driven by mETH (Mantle's liquid staking product).
Mantle's large treasury and active ecosystem incentives create a more favorable environment for lending protocols than most L2s. Aurelius competes with Lendle and other Mantle lending protocols for the chain's growing collateral base.
Smart Contracts
Aurelius implements standard lending protocol architecture with supply/borrow markets, collateral factors, and liquidation mechanisms. The contracts support key Mantle ecosystem assets including mETH, ETH, USDC, and USDT.
Integration with mETH is a key differentiator — allowing users to supply mETH as collateral and borrow against their liquid staked ETH position.
Security
The protocol has been audited. The relatively short operational history means limited real-world battle testing. Mantle's optimistic rollup provides chain-level security with Ethereum settlement.
mETH-related risks (liquid staking token depeg, smart contract risk) propagate to Aurelius through collateral exposure.
Risk Management
Standard risk parameters with Mantle-specific considerations. mETH collateral requires appropriate LTV ratios that account for liquid staking risks. Oracle reliability for mETH pricing is critical.
The protocol's risk management is adequate for current scale but will be tested as TVL grows and more volatile assets are added.
Adoption
Growing adoption tracking Mantle's ecosystem expansion. TVL has increased with Mantle's overall growth. User base is modest but expanding. The mETH use case provides a natural demand driver for borrowing services.
Tokenomics
Aurelius token provides governance over the protocol. Tokenomics are designed to incentivize early liquidity. Long-term value accrual depends on sustainable fee generation from lending activity. Still early to assess tokenomics effectiveness.
Risk Factors
- Limited track record: Short operational history with no stress test
- Mantle dependency: Chain's growth is essential
- mETH risk: Significant collateral exposure to liquid staking dynamics
- Competition: Multiple lending protocols on Mantle compete for TVL
- Smart contract risk: Newer codebase without extensive battle testing
- Oracle dependency: mETH pricing accuracy is critical for liquidations
Conclusion
Aurelius is a promising lending protocol on one of the faster-growing L2s. The 4.0 score reflects a favorable ecosystem position and functional design, discounted for limited track record, early-stage tokenomics, and dependence on Mantle's continued growth.