A Summary of the Modular Layer2 Mantle Mainnet Alpha Ecosystem

Mantle is a modular Layer 2 Rollups solution built on top of Ethereum, offering EVM compatibility, high scalability, and low transaction fees, while inheriting security from the Ethereum mainnet.

Recently, Mantle announced the official launch of its mainnet Alpha version, indicating that the Mantle network has completed the evaluation and testing phase of the testnet and will enter 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 (more projects will be added in the future), with some testnet metrics including:

-12.8 million transactions

-67k smart contracts

-29k developers

-900k wallets

After testing on the testnet, the mainnet Alpha brings users and developers:

-Improved user experience

-Fast transaction confirmation

-Low gas fees

-Scalability and high throughput

-All necessary tools available for builders

MNT Token Utility

MNT token provides the Mantle network with:

-Native gas token

-Multiparty computation (MPC) validator node staking token

-Data availability (DA) node staking token

-Ecosystem growth token

-Decentralized sequencer node staking token

-Token for future Mantle products

Projects currently live on Mantle mainnet Alpha

DeFi

iZUMi Finance

iZUMi Finance is a multi-chain DeFi protocol that provides a one-stop liquidity as a service (LaaS). The project aims to enable each token to obtain 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 the BNB Chain and its highlight is an innovative DL-AMM, for more details please refer to: "iZUMi Finance: Improvement of UniSwap V 3 Concept, Introducing a New DL-AMM Mechanism"; LiquidBox is a liquidity mining solution based on DA-AMM LP NFT and Uniswap V 3 LP NFT; iUSD is a USD-denominated convertible bond introduced by iZUMi, which utilizes transparent on-chain funds managed by smart contracts and multi-signature wallets as over-collateralization to support the value of iUSD.

FusionX

FusionX is a native DEX on the Mantle network, currently only supporting Mantle mainnet and testnet. It is also the first community-driven AMM on the Mantle network. This DEX supports a limited number of tokens and its functionalities include Swapping, Liquidity Pools, Yield Farming, and Initial Farm Offerings (IFO). The first three functionalities are common, while the last one, IFO, may not be available on most DEX platforms. Users on this platform can obtain preferential purchasing qualifications for new tokens by staking specific tokens.

Timeswap

Timeswap is a decentralized currency market protocol based on AMM that does not use oracles or liquidators. Unlike Uniswap, which allows real-time asset exchanges, borrowing and lending on Timeswap requires the exchange of tokens until repayment is complete. The lender provides asset A for borrowing and also "holds" a certain amount of asset B as collateral for the borrower. Users can adjust their risk status to obtain higher interest rates and lower collateral ratios, and vice versa.

Reax

Reax is a trustless asset issuance and trading protocol on Mantle, enabling users to engage in slippage-free transactions on-chain. It is a relatively new project on the Mantle network and provides trustless asset creation through shared debt pools, focusing on offering a low-risk, low-cost framework for synthetic assets to maximize the capital efficiency of DeFi. Reax aims to bring TradFi and cross-chain assets (BTC, XRP, ADA) into DeFi, providing a platform for all types of investors to trade and speculate on asset price movements without any limitations/regulations. Reax also offers a wide range of diverse assets, such as foreign currencies, stocks, commodities, and cross-chain cryptocurrencies, without relying on bridges or custodians. By purchasing synthetic assets, users can speculate on the price trends of these assets without actually owning them. Trading on Reax is simple, with low slippage, and atomic swaps do not result in impermanent loss. The leverage ratio for margin trading of synthetic assets on Reax can be as high as 125x.

Demex

Demex is a cross-chain derivative DEX supported by Carbon, designed to support a variety of financial assets, including cryptocurrency derivatives and complex financial instruments such as spot, futures, perpetual contracts, money markets, options, bonds, and synthetic assets. Its highlights are: any token can be listed on Demex from any IBC, EVM, or non-EVM chain without permission to create any market; Demex has a block time of 1.9 seconds, 400 times faster than Ethereum; Amplified pools on Demex provide deeper liquidity. In addition, Demex bridges GLP to Cosmos through smart contracts and provides automatic compounding services, allowing Cosmos users to access GMX and earn profits from GLP.

Symbiosis

Symbiosis Finance is a decentralized multichain liquidity protocol. Its V 2 version is currently live, allowing users to seamlessly move assets between different chains (EVM and non-EVM) and achieve cross-chain liquidity. The main components of Symbiosis Finance are:

Symbiosis Bridge: This is the bridge that connects different chains and enables cross-chain asset transfers.

Liquidity Pool: A pool of liquidity with various asset pairs. Users can add liquidity to the pool and earn transaction fees.

SIS token: The governance token of Symbiosis Finance, holders can earn rewards through staking and participate in protocol governance.

Oracle: This provides external data to the protocol, such as exchange rates of assets on different chains.

The advantages of Symbiosis Finance are fourfold: complete decentralization, interoperability, non-custodial, and unrestricted cross-chain liquidity.

DefiLlama

DefiLlama is a commonly used on-chain data analysis tool, so there is no need for further introduction.

Infra

Covalent

Covalent is a decentralized data infrastructure that enables users to seamlessly access blockchain data that would otherwise be inaccessible. It indexes the entire blockchain history and transforms data in a standardized and interoperable manner. Users can query almost any data on a given blockchain using a unified API.

RedStone Oracles

RedStone is a cross-chain data oracle technology that provides fast, cost-efficient data access, comprehensive historical audit trails, and decentralized dispute resolution mechanisms with insurance support. It gives users the right to claim in case of inaccurate data. The project utilizes the Arweave blockchain to store data and track reputation.

OpenBlock Wallet

OpenBlock Wallet is an unmanaged MPC wallet without mnemonic words or private keys, addressing the biggest pain points of on-chain wallets - mnemonic word and private key management - and lowering the entry barrier for Web 3 users. OpenBlock utilizes MPC (secure multi-party computation) technology to achieve threshold signature schemes (TSS), which enables distributed private key generation and transaction signing. Its advantages include distributed private keys, high security, high anonymity, and reduced complexity.

Holograph

Holograph is a LayerZero ecosystem-wide NFT protocol that allows minted NFTs to be bridged to EVM-compatible chains. It is also one of the key projects driving LayerZero's recent wave of interactions.

Thirdweb

Thirdweb is a comprehensive development framework that allows users to seamlessly build, launch, and manage web 3 applications and games across any EVM-compatible blockchain. Whether developing dApps from scratch or enhancing existing applications, Thirdweb's suite of tools can accelerate users' development workflow across smart contracts, applications, and infrastructure layers.

Blast API

Blast is the API provider platform of Bware Labs, aiming to address 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 Web 3 development. 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.

Coin 98 Super App

Coin 98 Super App is a non-custodial cryptocurrency wallet that integrates DEX, cross-bridge tools, dApp browser, and multi-chain NFT.

LayerZero

No need to introduce LayerZero further, a popular cross-chain interoperability protocol.

Gaming

Good Games Guild

Good Games Guild is a well-established NFT gaming guild that previously received strategic investment from Animoca Brands. The platform focuses on P2E and aims to maximize the game's benefits in human life. The vision of Good Games is to enhance and accelerate the potential of the Web 3 industry through gaming. Currently, the guild has a global community of over 300,000 and has also launched the GGG token.

XBorg

Xborg is an open and composable gaming protocol that enables games, brands, and communities to build applications on top of it and interact with players and fans through a infrastructure for collaborative credentials. It focuses on tokenizing esports and creating a decentralized esports gaming platform managed by fans and players. In the future, the platform plans to monetize earnings tokens and share them within the community. Xborg has also launched X borg Launchpad, providing users with the opportunity to invest in early-stage games.

NFT

NFTs 2 Me

NFTs 2 Me is an NFT creation platform that allows users to create their own NFT collections for free without the need for coding skills. The platform's designer creates NFT collections, defines their metadata, uploads assets, sets optional prices, and creates/deploy contracts (ERC 721 or ERC 1155). Additionally, the platform offers custom mint pages and other widgets needed by NFT creators.

Rarible

Rarible is an aggregated, community-centric, multi-chain NFT marketplace. For more information, refer to "In-depth analysis of the open-source cross-chain NFT protocol Rarible Protocol".

Mintpad

Mintpad, similar to NFTs 2 Me, is a platform for creating NFT collections. First, users can describe their NFT collection and select the corresponding chain, determine the mint time and date, and there is an option to set a whitelist phase (only upload wallet list); then upload relevant artwork, the platform's NFT generator will automatically generate relevant data, and finally generate a mint website for collectors to mint the NFT series.

Conclusion

Mantle's unique decentralized sequencer mechanism eliminates the reliance on a single sequencer to avoid single points of failure or censorship; Mantle also obtains security from Ethereum through Rollups. Additionally, by leveraging EigenLayer's data availability, Mantle maintains the same level of security for its execution layer as Ethereum.

As a modular L 2, compared to other L 2s (such as Starknet, zkSync, etc.), Mantle may not be highly regarded. However, it is the first modular L 2 that utilizes EigenLayer DA (data availability layer), and its testnet data is not particularly poor. During the testnet phase, over 80 projects were built, and since the launch of the mainnet Alpha, more projects have continuously poured in, with LSD set to be launched in the future. Therefore, Mantle may be an underrated L 2.