Author: Climber
Since the modular Layer2 network MantleNetwork announced the launch of the mainnet Alpha version on July 17th, its TVL has surpassed the $87 million mark in just one month, ranking ninth on the L2 TVL leaderboard.
Mantle is an EVM-compatible OP chain based on the Optimism OVM architecture, designed for the Ethereum network. It has a modular architecture and attempts to use EigenDA as a data availability layer and Specular Network fraud proof system for data processing.
Although Mantle is also a Layer2 scaling solution like Rollup, it has been upgraded based on the original Layer2 solution and has introduced modular design into Layer2 technology for the first time. Therefore, from a technical perspective, Mantle is also among the competition in the L2 landscape.
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Another star L2 network, Base, has been gaining momentum recently, and the on-chain project Friend.tech continues to make waves. In comparison, Mantle appears to be very low-key, but there are still many popular projects worth exploring on-chain.
Currently, there are a total of 113 deployed applications on Mantle, with a few still in the testnet phase. In terms of segmentations, project teams and developers mainly focus on three categories: 38 DeFi projects, 27 infrastructure projects, and 25 GameFi projects. LianGuai has selected representative high-popularity potential projects from them for users to reference.
DeFi
iZUMi Finance
Official website: https://izumi.finance/home
iZUMi Finance is a multi-chain DeFi protocol that provides liquidity as a service (LaaS), mainly helping project tokens obtain better on-chain liquidity in an efficient and sustainable manner. Currently, iZUMi has launched three on-chain liquidity products: LiquidBox, iZiSwap, and iUSD.
LiquidBox helps liquidity providers obtain additional liquidity mining rewards and DEX transaction fees provided by relevant protocols. iZiSwap is an innovative discrete liquidity AMM that provides efficient on-chain liquidity for Web3 assets and offers DEX users a similar order book trading experience to CEX. Based on the DLAMM mechanism, it can provide 5,000 times higher capital efficiency than traditional x*y=k DEX.
iUSD, short for iZUMi Bond USD, is 100% backed by iZUMi’s collateral and revenue. iUSD is pegged 1:1 to the US dollar and is issued by iZUMi Finance as a bond sold to private investors.
FusionX
Official website: https://fusionx.finance/
FusionX is a native DEX on the Mantle network that integrates various DeFi product functionalities, mainly providing AMM and a range of innovative financial services. The FusionX ecosystem consists of automated liquidity management, yield aggregator, leveraged yield farms, and perpetual Dex aggregator.
Symbiosis
Official Website: https://symbiosis.finance/
Symbiosis is a cross-chain AMM DEX that aggregates liquidity from different networks, including L1 and L2, EVM and non-EVM. Through Symbiosis, users can easily exchange any tokens between different networks.
Timeswap
Official Website: https://app.timeswap.io/
Timeswap is the first permissionless and oracle-free AMM-based lending marketplace on Mantle. Timeswap is a protocol for time preferences, allowing users to manage their ERC20 tokens on discrete time intervals. It combines a zero-clearing currency market with an options market. Users can lend tokens to the pool to earn fixed income.
Jump DeFi
Official Website: https://www.jumpdefi.xyz/
Jump DeFi is the only all-in-one decentralized finance platform on Mantle Network. Jump products include JumpDEX AMM, JumpLianGuaid (IDO), one-click token issuance, and NFT staking and swapping. By lowering the entry barrier and simplifying the operation process, it empowers users and developers in DeFi.
KTX.Finance
Official Website: https://ktx.finance/
KTX.Finance is an on-chain decentralized derivatives trading market where traders can trade based on project-native liquidity pools or KLP pools.
KUMA
Official Website: https://kuma.bond/
The KUMA protocol provides tokenized real-world assets (RWA) in various forms and uses them as the underlying asset for interest-bearing stablecoins for DeFi retail users. The protocol accepts bond-backed regulated NFTs (KUMA NFTs) for the exchange of compositional interest-bearing tokens (KIBTs) based on NFT metadata. A fixed quantity of KIBTs is minted according to parameterized interest rates. The KIBT rate can be updated by allowing users to exchange NFTs of the same risk category or when central bank rates decrease.
KIBTs are ERC-20 interest-bearing tokens (payment tokens) that can be used in a broader blockchain ecosystem, such as DeFi, GameFi, or NFT platforms.
Infrastructure
EigenLayer
Official Website: https://www.eigenlayer.xyz/
EigenLayer is a protocol built on top of Ethereum that introduces re-staking, a new primitive in cryptographic economic security. This primitive allows for the re-staking of $ETH on the consensus layer.
Users staking $ETH can choose to join the EigenLayer smart contract to re-stake their $ETH and extend cryptographic economic security to other applications on the network.
Pyth Network
Website: pyth.network
Pyth is a provider of encrypted data information that can connect high-fidelity market data from major professional traders and exchanges to any smart contract.
thirdweb
Website: https://thirdweb.com/
thirdweb is a complete Web3 development framework that provides the services needed to build, launch, and manage Web3 applications.
Covalent
Website: www.covalenthq.com
Covalent API brings visibility to billions of web3 data points. Build wallets, NFT galleries, investor tools, and more.
CryptoDo
Website: https://www.cryptodo.app/
A no-code builder for enterprise web3 solutions. Launch web3 applications in 5 minutes without coding.
Unmarshal
Website: https://unmarshal.io/
Unmarshal is a groundbreaking multi-chain Web 3.0 data network that changes the accessibility of blockchain data.
GameFi
Roboworld
Website: roboworld.io
Roboworld is a free card game where players can collect unique robots and trade them as NFTs to battle against opponents. Players must strategically choose and use robot-themed cards to outsmart opponents and achieve victory.
Age of Zalmoxis
Website: https://www.ageofzalmoxis.com/
Age of Zalmoxis is an ancient fantasy MMORPG that combines Unreal Engine 5 and blockchain technology. It is also a third-person large-scale multiplayer action role-playing game that incorporates NFTs and blockchain, set in the ancient fantasy version of the Kingdom of Dacia.
Bionic Owls
Official Website: https://bionicowls.io/
Bionic Owls is a game that supports NFTs, leverages influence, and allows players to make money. Bionic Owls will be the first fully playable influence, PvP, and P2E Metaverse game.
NFT
Rarible
Official Website: https://rarible.com/
A marketplace platform that combines NFT minting, trading, and collecting functions. Rarible recently announced permanent support for royalties and will no longer aggregate orders from OpenSea, LooksRare, and X2Y2.
Souffl3
Official Website: souffl3.com
Souffl3 is a one-stop marketplace for cross-chain NFT asset listing, token listing, and trading.
FANSI Metaboom
Official Website: metaboom.fansi.me
FANSI is leading the music industry into web3. Our mission is to create a supportive environment for musicians and music enthusiasts.
NFT2Me
Official Website: https://nfts2me.com/
NFTs2Me is a user-friendly platform for creating, deploying, and managing users’ NFT collections, with zero fees.
Conclusion
Compared to other leading L2 networks, although Mantle does not appear to be weak in terms of the number of projects in its ecosystem, its development time is relatively short, and its funding and team background are not advantageous.
In particular, Mantle is still in the mainnet Alpha stage and there are still unresolved technical issues. Currently, Mantle is in the process of developing anti-fraud features, and it is unknown when it will be completed in the future. In addition, the data availability through Mantle DA (supported by Eigen DA technology) is currently a permissioned node network, where all nodes are selected and approved by the core team, so there will be a node network migration once EigenDA mainnet is released.
However, as the first modularized L2 that utilizes EigenDA and has a testnet time of over six months, building over 80 projects and over 14 million on-chain transactions. Furthermore, since the launch of the mainnet Alpha, more projects have continued to join, enriching its ecosystem. Therefore, Mantle has the potential to become a dark horse in the field.
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