Mantle exploration guide by Bod
Mantle exploration guide by Bod
Introduction
Mantle is a brand-new Layer-2 protocol, built on Ethereum. It uses Optimism’s super-chain OP stack, similar to the recently launched Base protocol. The main goal of Mantle is enabling widespread adoption of decentralised and token-governed technologies.
Mantle is developed by the BitDAO and the Bybit exchange. It has its own token, called MNT. This token is used for both governance voting and as the transaction gas. Since MNT is swapped for ETH in settlement, it derives security from the Ethereum ecosystem.
In this deep dive we’ll discuss the bullish case for Mantle, how to use the Layer-3 protocols currently built on top of it, and how to find investment opportunities.
The case for Mantle
Optimistic roll-ups are gaining traction. Optimism has a huge piece of the Ethereum Layer-2 pie, Coinbase’s Base protocol has seen huge transactions, even after their first big rug pull, Base.
Mantle is built by BitDAO and Bybit. Bybit is a well-known exchange with 24h trading volumes regularly over half a billion dollars. BitDAO has a treasury of almost 4 billion dollars.
Mantle is built on Ethereum and uses the same programming language. That makes it possible for them to incentivize builders to build on Mantle. It also means it’s relatively easy to integrate existing dApps with Mantle.
Mantle is a modular blockchain. The core function of this type of blockchain operation is specialisation for the execution, consensus, settlement, and data availability layer.
Independence of the Ethereum blockchain for settlement gives Mantle the extra advantage of lower fees and potentially solving the blockchain trilemma — combining scalability, security, and decentralisation.
Finally, Mantle is building its own Mantle LSD. This protocol will facilitate the pooling of ETH deposits for staking on Ethereum’s consensus layer. This will reward the users with Mantle ETH (mntETH), giving them liquid funds to investing within the Mantle ecosystem.
Exploration of Mantle
For this portion of the deep dive, we will discuss some of the current most used apps on Mantle. The first one is an easy way of bridging funds over, followed by a web3 gaming protocol, a DEX, an NFT platform, and a prediction market.
Bridging funds
Step 1: Connect to bridge.mantle.xyz
Step 2: Log in to Metamask and bridge funds over to Mantle. Currently accepted funds are ETH, wBTC, and the bigger stablecoins.
Web3 gaming
A potential bullish catalyst for the Mantle ecosystem. Sakaba is a quest-based identification platform for gaming.
Step 1: Go to link3.to/sakaba
Step 2: Connect your Metamask
Step 3: If connected successfully, click on your profile on the top right, and navigate to dashboard
Step 4: Click “Join Cybertreck”
Step 5: Navigate to events and join one of the event meetings.
Trading
This is where you’ll find the tokens with the most potential. Be sure to research accordingly. The DEX with the current highest volume is Agni finance.
Step 1: Go to Agni.finance
Step 2: Launch app
Step 3: Connect Metamask
Step 4: Scroll down on the dashboard to see the Top Volume traded tokens
NFT launchpad
Step 1: Go to app.mindpad.co/collections
Step 2: Create an account
Step 3: Create a collection or visit the NFT generator.
Prediction market
Step 1: Go to app.nexter.fi
Step 2: Connect your Metamask
Step 3: Navigate to ‘Crypto’
Step 4: Use MNT tokens to predict either a green or red Bitcoin candle.
Opportunities for Mantle + Final words
Mantle has not yet had a big explosion of tokens. With the rise in interest for Optimistic roll-up chains and the $4 billion treasury, it might happen sooner than later. Using this type of exploration gives you the ability to find products that have not yet found a fair valuation.
New ecosystems are very much a hit or miss. Funds you transfer to Mantle take a week before being able to be sent back. For these reasons, try depositing a smaller percentage of your portfolio, and use most of it just to explore around.
Optimistic roll-ups and modular blockchains are both big themes of the pending bull market, so an insight in the technical aspects early will give an advantage over the rest of the traders.
