I just looked at a set of data. As the L2 MNT of the Bybit ecosystem, it has performed the best in the past year, with an increase of about 70%. Under the same time dimension, $ARB , $OP , ZK, STRK, SROLL, MODE, and TAIKO performed poorly, and basically had a large retracement. In terms of token liquidity, $MNT is also the best performer, with 49% of the tokens allocated to Mantle Treasury.


Looking back at last year's data, after the launch of mETHProtocol in Q1 2024, the 6% APY generated by staking ETH drove the growth of high TVL. In nearly a year, it reached a TVL of $1.8 billion. At the same time, through the Mantle Rewards Station event in July, staking MNT could get COOK, which gave rise to the continued development of mETH. Subsequent activities have allowed Ignition to reach a TVL of $1.2 billion in a short period of time since its launch in July. Currently, FBTC has provided support for multiple ecosystems such as Babylon, Solv Protocol, and PumpBTC.

Overall, Mantle has become a high-liquidity public chain with its modular design, efficient capital utilization and its own ecosystem.

In terms of modular upgrades, new interoperability standards are introduced.
ERC-7683: Simplifying cross-chain messaging to reduce liquidity fragmentation. Chainlink CCIP Integration: Secure, programmable token transfers.
OP Succinct: Upgrading to ZK rollups for faster finality and scalability
The most noteworthy thing is that Mantle has become the first Layer 2 public chain to adopt EigenDA. By utilizing the characteristics of EigenLayer, the cost problem caused by the high Calldata fees of OP Rollup has been greatly reduced, and the data processing efficiency has been improved. At the same time, by integrating zk-proof on the OP Stack framework of Optimism, its bridging capacity will be increased by 168 times.

In terms of data, Mantle continues to see positive inflows in both users and funds, with all indicators growing steadily.
Daily active users: The average daily active users in 2024 will exceed 45,000
New user growth: Cumulative new user growth will reach 4.3 million in 2024
Operational activity: The number of Twitter followers has exceeded 860,000, the number of Discord community members has exceeded 400,000, and the average number of online users per day exceeds 10,000.
TVL: Mantle's TVL reaches $2 billion by the end of 2024
Transaction volume: The total transaction volume on the Mantle chain will be nearly 140 million in 2024, with a daily transaction peak of 2.2 million.

Among them, $MNT performed outstandingly, with a real return to value.
After a careful study of MNT, I found that the source of its continued growth is the core asset portfolio held by the Mantle Treasury. Mantle is a mainstream asset in the treasury, such as BTC/ETH. Last year, the treasury made a profit of more than 50 million US dollars. In addition to mainstream assets, it also holds tokens and equity including mETH, FBTC and Ethena.

In terms of consumption, MNT is not only a governance tool, but also a golden shovel. MNT can not only be used to pay GAS fees, but its holders can also participate in governance and gain benefits through staking, while developers can also use MNT for on-chain deployment and ecological interaction. The increase in application scenarios has also made the value logic of MNT gradually clear.

👀Currently available activities

Mantle Rewards Station
Holders of MNT can participate in Mantle's Rewards Station activities and obtain MNT Power by staking MNT.
MNT Power is determined based on the length of staking time and data, and can be considered weighted. The higher the MNT Power, the more rewards you will receive.
By allocating MNT Power to different reward pools, additional token rewards can be obtained.

There are currently two ongoing activities, namely EIGEN and Ethena.
①EIGEN @eigenlayer is a protocol on Ethereum that introduces a re-staking mechanism. The protocol supports users to stake native ETH, Liquidity Staking Tokens (LST), EIGEN tokens or any ERC20 tokens in the EigenLayer smart contract.
By staking MNT Power, you can get EIGEN token rewards

②Ethena @ethena_labs built a synthetic dollar protocol on the Ethereum network, providing a cryptocurrency-native solution for currency that does not rely on traditional banking infrastructure, while also launching a dollar-denominated income tool called "Internet Bonds" for global users.$ENA It is also one of the targets selected by the Trump family foundation.
By staking MNT Power, you can get ENA token rewards
I also gave most of the MNT Power I obtained by staking MNT to ENA.