In This fall 2024, Mantle TVL surged 354% yr over yr, as mETH turned the fourth-largest Ethereum liquid staking token.
In response to the State of Mantle This fall 2024 report by Messari, Mantle Community skilled important progress, with its whole worth locked surging by roughly 354% year-over-year and 36% quarter-over-quarter. In response to Messari, this surge was largely pushed by the increasing consumer base and heightened exercise all through the ecosystem, particularly its DeFi sector.
Supply: Messari Report State of Mantle This fall 2024
Learn extra: Mantle Community’s MNT rallies 17% amid ecosystem enlargement plans
Furthermore, mETH emerged as a dominant participant in Ethereum liquid staking inside its first yr, reaching a peak TVL of roughly $2.19 billion and securing its place because the fourth-largest liquid staking token on Ethereum. Incubated by Mantle’s workforce, the protocol was deployed on Ethereum whereas remaining beneath Mantle’s governance. This governance mannequin enabled seamless integration with the broader Ethereum ecosystem, leveraging Mantle’s construction for enhanced interoperability and effectivity.
In the meantime, Mantle’s treasury worth grew by 52.56% in This fall, rising from roughly $3.00 billion in Q3 to $4.62 billion by the top of 2024. This enhance was primarily fueled by the appreciation of the Mantle (MNT) token, which accounted for almost 88.85% of the treasury’s whole worth.
On the technical entrance, Mantle Community superior its infrastructure by integrating ERC-7683 and Chainlink’s cross-chain interoperability protocol to reinforce cross-chain performance, adopting OP Succinct to transition from optimistic to zero-knowledge rollups for improved scalability and finality, and implementing Secure{Core} multi-signature options for enhanced safety. Mantle additionally collaborated with BlockSec to strengthen protocol safety and took proactive measures to guard customers from phishing threats.
In the meantime, Mantle’s native token is at present buying and selling at $1.07, with a market capitalization of $3.6 billion, in keeping with CoinGecko.
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