I have been paying close attention to activities on Mantle since January. Mantle is a layer-2 network for Ethereum, and created by ByBit. It hasn't received as much attention as other layer 2 networks such as Polygon, Optimism, Arbitrum, and Base, but it is working hard in the background, and there are quite a lot of things happening on the network. For example, Ethena Labs will launch their hyped ENA at Mantle very soon, but before that happens, they are rewarding Mantle stakers (MNT). In other words, if you own the Mantle token (MNT) and stake it in a rewards station, you will be rewarded with mShares, which in time you can swap for ENA tokens. Two days ago, Mantle also released how many mShards is needed to get one ENA.
What does this mean? Well, I have staked some hundred $MNT for two weeks and so far I have earned about 7000 mShards, meaning I will receive more than 10 $ENA based on my staking so far. But, there are two more weeks left, so I should probably receive somewhere around 20 $ENA or maybe more in the end. That is kind of fun, because even though I might not be the biggest fan of Ethena Labs and $ENA and $USDe, at least I will get to be a little part of the ride.
https://twitter.com/0xMantle/status/1777729733469655175
- 0xMantle
If you asked me in December, I knew nothing about Mantle. But, what opened my eyes was the launch of Merchant Moe, a little brother of Trader Joe on Avalanche. This is a great DEX with awesome rewards and so much more and Mantle. Recently, they also launched the Liquidity Book, an awesome feature for traders to trade with lower fees, and for liquidity providers to earn higher fees.
Enough about that! MNT, MOE, ENA, USDe... here I come :)
