LianGuai Observation | Counting the Latest Potential Projects in the Modular L2 Mantle Ecosystem

LianGuai Observation | Latest Potential Projects in Modular L2 Mantle Ecosystem

Author: Climber

Since the modular Layer2 network Mantle Network announced the launch of the mainnet Alpha version on July 17th, its TVL has exceeded $87 million in just one month, ranking ninth on the L2 TVL leaderboard.

Mantle is an EVM-compatible OP chain based on the Optimism OVM architecture, designed for the Ethereum network. It has a modular architecture and attempts to use EigenDA as the data availability layer and the Specular Network fraud proof system for data processing.

Although Mantle is also a Layer2 scaling solution for Rollup, it has been upgraded on the basis of the original Layer2 solutions and has introduced modular design into Layer2 technology for the first time. Therefore, from a technical perspective, Mantle is also among the L2 competition.

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Recently, another star L2 network Base has been gaining popularity, and the on-chain project Friend.tech has been constantly appearing. In comparison, Mantle seems to be very low-key, but there are still many popular projects worth exploring on the chain.

Currently, a total of 113 project applications have been deployed on Mantle, with a few still in the testnet stage. In terms of segmenting the track, project owners and developers mainly focus on three categories: 38 DeFi projects, 27 infrastructure projects, and 25 GameFi projects. LianGuai has selected representative high-popularity potential projects from each category for users to experience and refer to.

DeFi

iZUMi Finance

Website: https://izumi.finance/home

iZUMi Finance is a multi-chain DeFi protocol that provides one-stop liquidity as a service (LaaS), mainly helping project tokens obtain better on-chain liquidity in an efficient and sustainable manner. Currently, iZUMi has launched three on-chain liquidity products: LiquidBox, iZiSwap, and iUSD.

LiquidBox helps liquidity providers obtain additional liquidity mining rewards and DEX trading fees provided by relevant protocols. iZiSwap is an innovative discretized liquidity AMM that provides efficient on-chain liquidity for Web3 assets and offers DEX users a similar order book trading experience as CEX. Based on the DLAMM mechanism, it can provide 5000 times higher capital efficiency than traditional x*y=k DEX.

iUSD, short for iZUMi Bond USD, is 100% supported by iZUMi’s collateral and revenue. iUSD is pegged to the dollar at a 1:1 ratio and is issued by iZUMi Finance as a bond sold to private investors.

FusionX

Website: https://fusionx.finance/

FusionX is a native DEX on the Mantle Network that integrates various DeFi product functionalities, mainly providing AMM and a range of innovative financial services. The FusionX ecosystem consists of automated liquidity management, yield aggregator, leveraged yield farms, and perpetual Dex aggregator.

Symbiosis

Official website: https://symbiosis.finance/

Symbiosis is a cross-chain AMM DEX that aggregates liquidity from different networks, including L1 and L2, EVM and non-EVM. Through Symbiosis, users can easily exchange any tokens between different networks.

Timeswap

Official website: https://app.timeswap.io/

Timeswap is the first oracle-free and permissionless AMM-based lending market on Mantle. Timeswap is a fixed-time preference protocol for users to manage their ERC20 tokens at discrete times. It combines zero-clearing currency markets and options markets. Users can lend tokens to the pool to earn fixed income.

Jump DeFi

Official website: https://www.jumpdefi.xyz/

Jump DeFi is the only all-in-one decentralized finance platform on the Mantle Network. Jump products include Jump DEX AMM, Jump LianGuaid (IDO), one-click token issuance, and NFT staking and trading. By lowering the entry barriers and simplifying the operation process, it empowers users and developers in DeFi.

KTX.Finance

Official website: https://ktx.finance/

KTX.Finance is an on-chain decentralized derivatives trading market where traders can trade based on project native liquidity pools or KLP pools.

KUMA

Official website: https://kuma.bond/

The KUMA protocol tokenizes real-world assets (RWA) in various forms and uses them as the basis for interest-bearing stablecoins for DeFi retail. The protocol accepts bond-backed regulated NFTs (KUMA NFTs) for exchange of composable interest-bearing tokens (KIBT) based on NFT metadata. A fixed amount of KIBT is minted at a parameterized interest rate. The KIBT rate can be updated by allowing users to exchange NFTs of the same risk category or when central bank rates decrease.

KIBT is an interest-bearing ERC-20 token (payment token). They can be used in a wider blockchain ecosystem such as DeFi, GameFi, or NFT platforms.

Infrastructure

EigenLayer

Official website: https://www.eigenlayer.xyz/

EigenLayer is a protocol built on top of Ethereum that introduces re-staking, a new primitive in cryptographic economic security. This primitive allows for re-staking $ETH at the consensus layer.

Users who stake $ETH can choose to join the EigenLayer smart contract to re-stake their $ETH and extend cryptographic economic security to other applications on the network.

Pyth Network

Official website: pyth.network

Pyth is a cryptographic data information provider that can connect high-fidelity market data from the largest professional traders and exchanges to any smart contract.

thirdweb

Official website: https://thirdweb.com/

thirdweb is a complete Web3 development framework that provides the services needed to build, launch, and manage Web3 applications.

Covalent

Official website: www.covalenthq.com

The Covalent API brings visibility to billions of web3 data points. Build wallets, NFT galleries, investor tools, and more.

CryptoDo

Official website: https://www.cryptodo.app/

A no-code builder for enterprise web3 solutions. Launch web3 applications in 5 minutes without programming.

Unmarshal

Official website: https://unmarshal.io/

Unmarshal is a groundbreaking multi-chain Web 3.0 data network that changes the accessibility of blockchain data.

GameFi

Roboworld

Official website: roboworld.io

Roboworld is a free card game where players can collect unique robots and trade them as NFTs, using them to battle opponents. Players must strategically choose and use robot-themed cards to outsmart their opponents and win.

Age of Zalmoxis

Official website: https://www.ageofzalmoxis.com/

Age of Zalmoxis is an ancient fantasy MMORPG that combines Unreal Engine 5 and blockchain technology. It is also a third-person, large-scale multiplayer action role-playing game, set in the ancient fantasy version of the Kingdom of Dacia.

Bionic Owls

Official website: https://bionicowls.io/

Bionic Owls is a game that supports NFTs and allows players to earn money through their influence. Bionic Owls will be the first fully playable influence, PvP, and P2E Metaverse game.

NFT

Rarible

Official website: https://rarible.com/

A marketplace platform that combines NFT minting, trading, and collecting functions. Recently, Rarible announced permanent support for royalties and will no longer aggregate orders from OpenSea, LooksRare, and X2Y2.

Souffl3

Website: souffl3.com

Souffl3 is a one-stop marketplace for cross-chain NFT asset listing, listing and trading.

FANSI Metaboom

Website: metaboom.fansi.me

FANSI is leading the music industry into web3. Our mission is to create a supportive environment for musicians and music lovers.

NFT2Me

Website: https://nfts2me.com/

NFTs2Me is a user-friendly platform for creating, deploying and managing users’ NFT collections, with zero fees.

Conclusion

Compared with several other leading L2 networks, although Mantle does not appear weak in terms of the number of ecological projects, its development time is relatively short, and its financing and team background are not superior.

In particular, Mantle is still in the mainnet Alpha stage and there are still hard problems to be solved. Currently, Mantle is developing anti-fraud features, and it is unknown when it will be completed in the future. In addition, the data availability through Mantle DA (supported by Eigen DA technology) is currently a permissioned node network, where all nodes are selected and approved by the core team, so there will be a node network migration once the EigenDA mainnet is released.

However, as the first modular L2 that utilizes EigenDA and has been in testing for over six months, with over 80 projects built and over 14 million on-chain transactions. And since the launch of the mainnet Alpha, more and more projects have joined, enriching its ecosystem. Therefore, Mantle has the potential to be a dark horse.

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