Ignas | DeFi
Ignas | DeFi|Sep 21, 2025 09:33
The only token to break of L2 token curse is MNT. It trades at 2x the FDV of Arbitrum despite Arbitrum having higher TVL, more users and more maturity. L2Beat doesn't even list Mantle under rollups because of a lacking DA bridge. $260m TVL for Mantle vs 3.5B for Arbitrum shows that TVL or technical maturity for L2 tokens means little now. Market treats MNT like BNB, not a normal L2 thanks to Bybit integration, 4B treasury, CEX token features, a neobank, etc. Most importantly, Mantle runs buybacks & burns from treasury profits. That gives a scarcity story that other L2 tokens don’t have. So MNT breaking out of the cursed L2 governance token story is bullish for Base. Since Coinbase > Bybit, BASE can easily launch at 2x Mantle FDV on day one. The move is simple: Install Farcaster and Base app to post consistently. And follow me at ignas.farcaster.eth on Base app or @ Ignas on Farcaster. "Create and you will be rewarded." - @jessepollak(Ignas | DeFi)
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