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Modular Layer2 Mantle Mainnet Alpha Ecosystem Overview
Summarized by AI
Mantle is a modular Layer 2 Rollups solution built on top of Ethereum. It provides EVM compatibility, high scalability, and low transaction fees, while also inheriting security from the Ethereum mainnet.
Recently, Mantle announced the official launch of the Alpha version of its mainnet, indicating that the Mantle network has completed the evaluation and testing phase of the testnet and will move on to the next stage. Let's take a look at the highlights of the modular L2 Mantle's launch this time.
Mantle Ecosystem
Currently, there are 83 active projects running on the Mantle Ringwood testnet (with more to come in the future). Some of the testnet metrics include:
-1280 million transactions
-67k Smart Contract
-29k Developer
-90 million wallets
After testing on the testnet, the mainnet Alpha can bring users and developers:
-improved user experience
-Rapidly confirm transactions.
- Low Gas Fees
-Scalability and high throughput.
- For builders, all necessary tools are already available.
MNT token practicality
MNT token will provide for the Mantle network:
- Native Gas token
-Multi-party computation (MPC) validator node staking token.
- Data Availability Layer (DA) node staking token
- Ecosystem growth token
- Decentralized sequencer node staking token.
-All future Mantle tokens.
Currently, the projects that have launched on the Mantle mainnet Alpha are:
DeFi
iZUMi Finance is a multi-chain DeFi protocol that provides a one-stop liquidity-as-a-service (LaaS) solution. The project aims to enable every token to achieve better on-chain liquidity in an efficient and sustainable manner. iZUMi currently offers three on-chain liquidity products: LiquidBox, iZiSwap, and iUSD.
iZiSwap was initially launched on BNB Chain, and its highlight is an innovative DL-AMM. For more information, please refer to "iZUMi Finance: Improving on UniSwap V3's ideas and creating a new DL-AMM mechanism"; LiquidBox is a liquidity mining solution based on DA-AMM LP NFT and Uniswap V3 LP NFT; iUSD is a USD-denominated convertible bond launched by iZUMi, which uses transparent on-chain funds managed by smart contracts and multi-signature wallets as excess collateral to support the value of iUSD.
FusionX is a native DEX on the Mantle network, currently only supporting the Mantle mainnet and testnet. It is also the first community-driven AMM on the Mantle network. The DEX currently supports a limited number of tokens and its features include Swapping, Liquidity Pools, Yield Farming, and Initial Farm Offerings. The first three features are quite common, while the last one, IFO, may not be available on most DEXs. On this platform, users can obtain discounted purchasing qualifications for new tokens by staking specific tokens.
Timeswap is a decentralized currency market protocol based on AMM, which does not use oracles or liquidators. Unlike Uniswap, which can exchange assets in real time, borrowing and lending on Timeswap requires exchanging tokens until repayment is complete. The lender provides asset A for borrowing, while also "holding" a certain amount of asset B as collateral for the borrower. Users can adjust their risk profile to obtain higher interest rates and lower collateral ratios, and vice versa.
Reax is an on-chain synthetic asset issuance and trading protocol on Mantle that does not require trust, allowing users to conduct slippage-free transactions. It is also a newer project on the Mantle network. Reax provides trustless synthetic asset creation through shared debt pools, focusing on providing a low-risk, low-cost synthetic asset framework to maximize the capital efficiency of DeFi. Reax is committed to bringing TradFi and cross-chain assets (BTC, XRP, ADA) into DeFi, aiming to provide a platform for all types of investors to trade and speculate on asset price movements without any restrictions/regulations. Reax also offers a wide and diverse range of assets, such as foreign currencies, stocks, commodities, cross-chain cryptocurrencies, etc., without relying on bridges or custody. By purchasing synthetic assets, users can speculate on the price movements of these assets without actually owning them. Trading on Reax is simple, with no slippage, atomic swaps do not cause impermanent loss, and the leverage ratio of margin trading for synthetic assets can be as high as 125 times.
Demex is a cross-chain derivative DEX supported by Carbon, aiming to support a variety of financial assets, from spot, futures, perpetual contracts, and currency markets to options, bonds, and synthetic assets, as well as cryptocurrency derivatives and complex financial instruments trading. Its highlights are: on Demex, any token can be listed from any IBC, EVM, and non-EVM chain without permission to create any market; Demex's block time is 1.9 seconds, 400 times faster than Ethereum; Amplified pools on Demex provide deeper liquidity. In addition, Demex can bridge GLP to Cosmos through smart contracts and provide automatic compounding services, allowing Cosmos users to access GMX and earn profits from GLP.
Symbiosis Finance is a decentralized multi-chain liquidity protocol. Its V2 version is currently online, which allows users to seamlessly flow assets between different chains (EVM and non-EVM) and achieve cross-chain liquidity. The main components of Symbiosis Finance include:
Infra
Blast is the API provider platform of Bware Labs, aimed at solving Web 3 infrastructure issues related to reliability and latency by adopting geographically distributed third-party nodes. Blast provides standardized API services covering all aspects of Web3 development infrastructure. For each supported chain, users can generate a dedicated endpoint that allows them to access most RPC methods required for dAPP development and/or blockchain interaction.
Coin98 Super App is a non-custodial cryptocurrency wallet that features an integrated DEX, cross-bridge tool, dApp browser, and multi-chain NFT.
LayerZero needs no introduction, as it is a well-known cross-chain interoperability protocol in the industry.
Gaming
Good Games Guild is a veteran NFT gaming guild that has previously received strategic investment from Animoca Brands. The platform focuses on P2E and is committed to maximizing the game's revenue in human life. Good Games' vision is to enhance and accelerate the potential of the Web3 industry through gaming. Currently, the guild has a community of over 300,000 worldwide and has also launched the token GGG.
Xborg is an open and composable gaming protocol that allows games, brands, and communities to build applications on top of it and interact with players and fans to create infrastructure for collaborative credentials. It focuses on tokenizing esports and can create decentralized esports gaming platforms managed by fans and players. In the future, revenue can be tokenized and shared within the community. Xborg Launchpad has also been launched, providing users with the opportunity to invest in early-stage games.
NFT
NFTs2Me is an NFT creation platform that allows users to create their own NFT collections for free without any coding skills. The platform's designer creates NFT collections, defines their metadata, uploads assets, sets optional prices, and creates/deploy contracts (ERC721 or ERC1155). In addition, the platform also provides a custom mint page and some other small components needed by NFT creators.
Rarible is an aggregated, community-centered, multi-chain NFT marketplace. For more information, please refer to "Comprehensive Analysis of the Open Source Cross-Chain NFT Protocol Rarible Protocol".
Mintpad is similar to NFTs2Me, as it is a platform for creating NFT collections. Firstly, users can describe their NFT collection and select the corresponding blockchain. They can also determine the mint time and date, and there is an option to set a whitelist phase (where only wallet lists need to be uploaded). Then, users can upload relevant artwork, and the platform's NFT generator will automatically generate the relevant data. Finally, a mint website is generated for collectors to mint the NFT series.
Conclusion
Mantle has a unique decentralized sequencer mechanism that eliminates the dependence on a single sequencer to avoid single point of failure or review. Mantle also obtains security from Ethereum through Rollups. In addition, by leveraging EigenLayer's DA, Mantle maintains the same level of data availability security as Ethereum in the execution layer.
As a modular L2, Mantle may not be as popular as other L2s such as Starknet and zkSync. However, it is the first modular L2 to utilize EigenLayer DA (Data Availability layer), and its testnet data is not particularly poor. During the testnet period, over 80 projects were built, and since the launch of the mainnet Alpha, more projects have continued to pour in. Additionally, LSD will be launched in the future. Therefore, Mantle may be an L2 that is underestimated.
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