State of Mantle Q3 2024

Messari · 2024-12-10T17:06:58+00:00

- **Mantle Network** strengthened its decentralized finance (DeFi) ecosystem through key initiatives, such as **Methamorphosis Season 1** and the **mETH Protocol**, attracting over **500,000** staked ETH and driving Total Value Locked (TVL) to a record ~**$92.20 million**.- Mantle’s **MNT-based revenue grew by ~33.51%**, highlighting the network’s underlying strength in staking and participation in DeFi.- Strategic partnerships with blockchain-based gaming projects **Catizen** and **MetaCene** expanded Mantle's reach into the gaming sector, attracting new users and driving a peak of **240,231 daily active addresses**.- The **Mantle Rewards Station** distributed 4.30 million ENA (~$2.19 million) and 200.00 million COOK (~$6.20 million) in 2024 via partnerships with Ethena, MYSO Finance, IntentX, and others.- Community events like **Mantle AI Fest: CH(AI)N REACTION**, along with the protocol’s active presence at industry conferences, demonstrated strong community engagement, supported by reward incentives backed by Mantle’s extensive treasury.- **Mantle Network:** An Ethereum L2 known for its modular design and as the first adopter of EigenLayer and EigenDA, serving as the backbone for a diverse range of products and applications within its ecosystem.- **mETH Protocol:** Mantle’s liquid staking and restaking protocol for ETH opens up new possibilities for users to maximize asset potential.- **Ignition FBTC:** A decentralized Bitcoin solution that combines Bitcoin's security with the composability of decentralized finance. It bridges BTC into the Web3 economy and unlocks new financial opportunities.- **Transaction Fees**: Mantle Network charges gas fees based on the computational complexity of transactions, paid in its native MNT token. This differentiates Mantle from other EVM-based L2s, which typically require ETH to settle gas fees.- **Incentive Programs**: Programs like the Mantle Rewards Station generate fees via users locking MNT to earn rewards.- **Liquid Staking and Restaking**: Products like the mETH Protocol have attracted significant TVL, with Mantle earning revenue from staking-related activities and associated fees.- **Partnerships**: Q3 2024 partnerships with projects such as Catizen and Ignition FBTC expand Mantle’s reach into sectors such as Telegram gaming and the Bitcoin ecosystem, generating revenue through increased transaction fees and user activity on the network by new user groups.- ScopeChat by 0xScope: Provides a chatbot interface for interacting with blockchain networks using natural language processing.- ORA: A trustless AI agent on Ethereum that makes blockchain networks AI-native through tokenized model ownership.- AgentLayer: Creates a decentralized network of autonomous AI agents to perform tasks with minimal human intervention.- FIDE AI: Allows users to compete with AI to identify opportunities in Web3.- MUA DAO: Establishes a modular protocol that enhances interoperability between human and AI-created assets.

Messari

Mantle Network strengthened its decentralized finance (DeFi) ecosystem through key initiatives, such as Methamorphosis Season 1 and the mETH Protocol, attracting over 500,000 staked ETH and driving Total Value Locked (TVL) to a record ~$92.20 million.
Mantle’s MNT-based revenue grew by ~33.51%, highlighting the network’s underlying strength in staking and participation in DeFi.
Strategic partnerships with blockchain-based gaming projects Catizen and MetaCene expanded Mantle's reach into the gaming sector, attracting new users and driving a peak of 240,231 daily active addresses.
The Mantle Rewards Station distributed 4.30 million ENA (~$2.19 million) and 200.00 million COOK (~$6.20 million) in 2024 via partnerships with Ethena, MYSO Finance, IntentX, and others.
Community events like Mantle AI Fest: CH(AI)N REACTION, along with the protocol’s active presence at industry conferences, demonstrated strong community engagement, supported by reward incentives backed by Mantle’s extensive treasury.
Mantle Network: An Ethereum L2 known for its modular design and as the first adopter of EigenLayer and EigenDA, serving as the backbone for a diverse range of products and applications within its ecosystem.
mETH Protocol: Mantle’s liquid staking and restaking protocol for ETH opens up new possibilities for users to maximize asset potential.
Ignition FBTC: A decentralized Bitcoin solution that combines Bitcoin's security with the composability of decentralized finance. It bridges BTC into the Web3 economy and unlocks new financial opportunities.
Transaction Fees: Mantle Network charges gas fees based on the computational complexity of transactions, paid in its native MNT token. This differentiates Mantle from other EVM-based L2s, which typically require ETH to settle gas fees.
Incentive Programs: Programs like the Mantle Rewards Station generate fees via users locking MNT to earn rewards.
Liquid Staking and Restaking: Products like the mETH Protocol have attracted significant TVL, with Mantle earning revenue from staking-related activities and associated fees.
Partnerships: Q3 2024 partnerships with projects such as Catizen and Ignition FBTC expand Mantle’s reach into sectors such as Telegram gaming and the Bitcoin ecosystem, generating revenue through increased transaction fees and user activity on the network by new user groups.
ScopeChat by 0xScope: Provides a chatbot interface for interacting with blockchain networks using natural language processing.
ORA: A trustless AI agent on Ethereum that makes blockchain networks AI-native through tokenized model ownership.
AgentLayer: Creates a decentralized network of autonomous AI agents to perform tasks with minimal human intervention.
FIDE AI: Allows users to compete with AI to identify opportunities in Web3.
MUA DAO: Establishes a modular protocol that enhances interoperability between human and AI-created assets.