In July 2023, Mantle Network was officially launched as Ethereum Layer-2 - marking the beginning of our mission to promote the mass adoption of token governance technology. After hundreds of dApps deployed, multiple ecosystem collaborations, and several major upgrades, Mantle Network has become not only a chain for building liquidity, but also a chain for driving a new era of on-chain financial services - as a blockchain for the banking industry, Mantle Network has built the key foundational layer on which Mantles category-defining vision relies.
To date, Mantle Network has processed over 247 million transactions, and the market cap of $MNT has grown to $2.46 billion. As we enter our third year, we will continue to build on this foundation - strengthening our technical core, expanding our ecosystem, and growing with the unwavering support of our developers and community.
UR x Mantle Network — Your Banking Blockchain
Mantle Network is the cornerstone blockchain of Mantle, driving the growth and expansion of its multiple innovation pillars. From the mETH protocol to the recently released smart financial application UR, Mantle Network not only injects vitality into DeFi and other innovative dApps, but has also expanded into a multi-functional vertical network for new and old applications to accelerate and optimize development.
Mantles Q3 letter to token holders outlines our ambitious blueprint of firm commitment, starting with UR, to firmly anchor financial activities on the Mantle Network chain. This includes running URs crypto-to-fiat deposits and withdrawals, card payments, foreign exchange, peer-to-peer transfers, and bank transfers, but the functionality of the Mantle Network goes far beyond that:
Posting transactions to the blockchain for real-time auditability, proof of reserves, and automated compliance via smart contracts;
Compatible with TradFi tracks, achieving unified fiat and crypto accounts, and supporting crypto and fiat deposit and withdrawal channels;
Integrate DeFi functionality to accelerate financial development in a seamless and abstract way.
About $MNT
$MNT continues to empower the Mantle ecosystem and is at the core of governance and growth. $MNT holders can participate in multiple ecosystem initiatives (such as centralized exchange activities in the second quarter) and enhanced income opportunities. This quarter, more Mantle Reward Station benefits and Bybit Megadrop activities were further launched.
Mantle Rewards Station has distributed over 29 million USDT* in revenue rewards through $MNT, $WOO, $EIGEN, $ENA, etc. (including the latest MNT Rewards S 3 event, over 30 million USDT*);
Through strategic partner Bybit, MNT stakers received token rewards such as $SKATE, $BOMB, $XO, and $TAC in 6 Bybit Megadrops;
We also work with centralized exchanges such as HTX, Gate.io, and MEXC to allow more users to access $MNT;
The new Rewards Station 2.0 is under development;
We are continually expanding access to $MNT, most recently launching Kraken Pro .
Click here to learn more about $MNT and $MNT earnings .
*Based on exchange rates at time of calculation.
Technical architecture upgrade: Enhanced security and efficiency
Our goal for 2025 is clear: Mantle Network will fully integrate EigenDA and Succinct’s zkVM. The former has been completed, and we are on track to integrate OP-Succinct into the Mantle mainnet in the third quarter of 2025 - achieving a true blockchain infrastructure innovation balance between performance and security.
As EigenLayer upgrades EigenDA to EigenDA v2, we will work to bring this version to Mantle Network, allowing users to verify data publishing without relying on Mantle Sequencer or EigenDA Operator while enhancing transparency.
Click to view details: Learn more
Drivers and ecosystem support
Mantle Network is committed to working with developers to drive the birth of the next breakthrough application. From conception to scale, we provide infrastructure, resources and support to help developers turn ideas into category-defining products. Whether you are starting up or expanding, Mantle is where vision and execution meet.
Mantle Network’s developer relations team launched its flagship hackathon, the Cookathon, and provided mentorship to developers at Cinco de Mayo, ETHGlobal Cannes, and developer residencies at Mantle’s ecosystem initiative, Sozu Haus.
Cookathon will be held from May to October 2025, with a total prize of $15,000. Cook 01 and 02 attracted a total of 204 developers to participate, and 6 winners were finally born. The third season of Cook 03 is currently underway, and we look forward to witnessing the birth of more outstanding projects in the next event.
Lightning Grants, which provides the fastest funding channel for early developers, will be launched in July 2025 to help them quickly deploy their ideas or MVPs to Mantle Network. Lightning Grants is one of the many funding programs we have launched since our inception, all of which are tailored to the needs of different developers. The new Grants page that will be launched this quarter will help you learn more about each funding program and find the one that best suits you.
Ecosystem dApps highlights:
We welcome Funny Money and Phala Network to join the ecosystem, and completed integration with SolverNet, Heurist, AEON, Pistachio, deBridge, Noves, Everclear, Debita, Hive Intelligence, Pimlico and Worl d3 in the last quarter. Mantle Network has 300+ dApps, which also allows us to bring you more themed events. In the second quarter of 2025, HyperPlay Gaming brought a multi-week Mantle Games Fest, where users had the opportunity to experience new Web3 games. Dont forget, we also distributed 100,000 $MNT to loyal content creators through our partnership with Kaito (50,000 will be distributed later). In the third quarter of 2025, we are preparing to launch more DeFi and DeFAI applications.
Mantle offline events and gatherings:
We’ve seen the Mantle community at over 50 events this year, including ETHDenver, Token 2049 Dubai, and EthCC. Our Mantle Meetups program brings Mantle to a larger global audience, empowering the most influential community leaders to expand their local impact. These truly grassroots events are organized and hosted by developers, builders, creators, and advocates in the community. Since launch, Mantle Meetups have spread across 5 continents and over 10 countries. We will continue to grow the Mantle community and support the top builders and leaders who are shaping the future of Web3.
Thank you to the Mantle community for always being with us since the launch of the network. As the Mantle ecosystem continues to expand, we look forward to bringing better use cases, stronger product performance, higher value capture capabilities and more excitement to users of the Mantle Network.
In 2025, our mission will focus on attracting high-volume applications built by top developers to the blockchain, including RFQ-based trading systems and innovative RWA platforms. Please continue to pay attention to Mantle on X - start another exciting new year!
