The two-year journey of Mantle Network: Blockchain empowering the development of the banking industry

CN
3 hours ago

In 2025, our mission will focus on attracting high-volume applications built by top developers to go on-chain, including RFQ-based trading systems and innovative RWA platforms.

In July 2023, Mantle Network officially launched as an Ethereum Layer-2, marking the beginning of our mission to drive the large-scale adoption of token governance technology. After hundreds of dApps deployments, multiple ecosystem collaborations, and several major upgrades, Mantle Network has not only become a chain for building liquidity but also a chain that drives a new era of on-chain financial services — as a "blockchain for the banking industry," Mantle Network has built the key foundational layer upon which the Mantle-defined category vision relies.

As of now, Mantle Network has processed over 247 million transactions, and the market capitalization of $MNT has grown to $2.46 billion. Entering our third year, we will continue to strengthen our efforts based on this foundation — enhancing our technological core, expanding our ecosystem, and continuously growing with the steadfast support of developers and the community.

UR x Mantle Network — Your Banking Blockchain

Mantle Network is the cornerstone blockchain of Mantle, driving the growth and expansion of its multiple innovative pillars. From the mETH protocol to the recently launched smart financial application UR, Mantle Network not only injects vitality into DeFi and other innovative dApps but has also expanded into a multifunctional vertical network, allowing both new and existing applications to accelerate and optimize development.

Mantle's Q3 Letter to Token Holders outlines our ambitious blueprint of unwavering commitment, with UR as the starting point, firmly anchoring financial activities on the Mantle Network chain. This includes running UR's crypto-to-fiat access, card payments, foreign exchange, peer-to-peer transfers, and bank transfers, while the capabilities of Mantle Network extend far beyond:

  • Publishing transactions to the blockchain for real-time auditability, proof of reserves, and automated compliance through smart contracts;
  • Achieving compatibility with TradFi rails, enabling unified fiat and crypto accounts, supporting inflow and outflow channels for crypto and fiat;
  • Integrating DeFi functionalities to accelerate financial development in a seamless and abstract manner.

About $MNT

$MNT continues to empower the Mantle ecosystem, serving as the core of governance and growth. Holding $MNT allows participation in various ecosystem programs (such as the centralized exchange activities in Q2) and enhanced yield opportunities. This quarter, we further launched more Mantle Rewards Station benefits and the Bybit Megadrop event.

  • The Mantle Rewards Station has distributed rewards worth over 29 million USDT* through $MNT, $WOO, $EIGEN, $ENA, etc. (including the latest MNT reward boost S3 event exceeding 30 million USDT*);
  • Through strategic partner Bybit, MNT stakers received token rewards such as $SKATE, $BOMB, $XO, $TAC in 6 Bybit Megadrop events;
  • We have also collaborated with centralized exchanges like HTX, Gate.io, and MEXC to bring $MNT to more users;
  • A new Rewards Station 2.0 is in development;
  • We are continuously expanding the channels for acquiring $MNT, recently launching on Kraken Pro.

Click to learn more about $MNT and $MNT Yield.
*Based on the exchange rate at the time of calculation.

Technical Architecture Upgrade: Enhancing 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 Q3 2025 — achieving a true balance of innovation in blockchain infrastructure between performance and security.

As EigenLayer upgrades EigenDA to EigenDA v2, we will strive to bring this version to Mantle Network, allowing users to verify data publication without relying on the Mantle Sequencer or EigenDA Operator, while enhancing transparency.

Click for details: Learn More

Driving Developer and Ecosystem Support

Mantle Network is committed to working with developers to drive the birth of the next breakthrough application. From concept to scaling, we provide infrastructure, resources, and support to help developers turn ideas into category-defining products. Whether you are a startup or expanding, Mantle is where vision meets execution.

The Mantle Network developer relations team has launched the flagship hackathon — Cookathon, while providing mentorship to developers at events like Cinco de Mayo, ETHGlobal Cannes, and the Mantle ecosystem program Sozu Haus.

Cookathon will take place from May to October 2025, with a total prize pool of $15,000. Cook 01 and 02 attracted a total of 204 developers, resulting in 6 winners. The third season, Cook 03, is currently underway, and we look forward to witnessing more outstanding projects emerge in the upcoming events.

The Lightning Grants program, providing the fastest funding channel for early developers, launched in July 2025, helping them quickly deploy their ideas or MVPs to Mantle Network. Lightning Grants is one of our several funding initiatives launched since our inception, tailored to meet the needs of different developers. A new Grants page launching this quarter will help you learn more about each funding project and find the best solution for you.

  • Ecosystem dApps Highlights: We welcome Funny Money and Phala Network to the ecosystem, and completed integrations with SolverNet, Heurist, AEON, Pistachio, deBridge, Noves, Everclear, Debita, Hive Intelligence, Pimlico, and World3 in the last quarter. Mantle Network now has over 300 dApps, allowing us to bring you more thematic events. In Q2 2025, HyperPlay Gaming hosted the Mantle Games Fest for several weeks, giving users the chance to experience new Web3 games. Don't forget, we also distributed 100,000 $MNT to loyal content creators through our partnership with Kaito (with an additional 50,000 to be distributed later). In Q3 2025, we are preparing to launch more DeFi and DeFAI applications.
  • Mantle Offline Events and Meetups: This year, we have met with the Mantle community at over 50 events, including ETHDenver, Token2049 Dubai, and EthCC. Our Mantle Meetups program brings Mantle to a wider global audience, empowering the most influential community leaders to expand their local impact. These grassroots events are organized by developers, builders, creators, and advocates within the community. Since its launch, Mantle Meetups have spread across 5 continents and over 10 countries. We will continue to grow the Mantle community, supporting the top builders and leaders who are shaping the future of Web3.

Thank you to the Mantle community for standing with us since the network launch. As the Mantle ecosystem continues to expand, we look forward to bringing better use cases, stronger product performance, higher value capture capabilities, and more exciting experiences to users of Mantle Network.

In 2025, our mission will focus on attracting high-volume applications built by top developers to go on-chain, including RFQ-based trading systems and innovative RWA platforms. Stay tuned to Mantle on X — ushering in another exciting new year!

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