Skip to main content
TVL: ~$19M | Type: Restaking Vault | Docs: mellow.finance

​
Overview

Mellow Finance deploys modular ERC4626-compatible vaults that hold underlying LSTs and apply additional yield strategies on top. On Monad, the primary Mellow vault holds shMON (FastLane’s liquid staking token) and issues vshMON to depositors. vshMON earns both the base shMON staking APR (~6.5%) plus Mellow’s on-top yield layer, resulting in the highest combined APR in the Monad LST ecosystem (~9%). The VaultFactory contract is used to enumerate all deployed Mellow vaults on Monad.

​
Types

type MellowVault = {
  address: `0x${string}`
  underlying: `0x${string}`   // shMON or other LST
  totalAssets: bigint
  exchangeRate: number         // vshMON per 1 underlying token
  apy: number                  // e.g. 0.09 = 9%
  protocol: 'mellow'
}

​
Functions

​
getMellowVaults()

Returns all Mellow vaults deployed on Monad by iterating the VaultFactory. 
import { Rampart } from 'rampart-monad'

const sdk = new Rampart()
const vaults = await sdk.getMellowVaults()
// → MellowVault[]

vaults.forEach(v => {
  console.log(`${v.address}: APY ${(v.apy * 100).toFixed(2)}%`)
})

​
getMellowAPY(vaultAddress)

Returns the current APY for a specific Mellow vault. APY is derived from the vault’s exchange rate delta over the last 500k blocks. 
const apy = await sdk.getMellowAPY('0x...')
// → number, e.g. 0.09

console.log(`Vault APY: ${(apy * 100).toFixed(2)}%`)

​
getVshMONRate()

Returns the current vshMON exchange rate - how much shMON one vshMON can be redeemed for. 
const rate = await sdk.getVshMONRate()
// → number, e.g. 1.034

console.log(`1 vshMON = ${rate.toFixed(4)} shMON`)

​
Contract Addresses

ContractAddress
VaultFactory0xC9Da1Fe5B70e40C60e4028da5b1d7b8BD8e19c82
Individual vault addresses are discovered dynamically from the VaultFactory. Call getMellowVaults() to enumerate them at runtime rather than hardcoding vault addresses.