Mantle DeFi Fest Is Here: Explore the Mantle DeFi Lab
11/12/244 min read
by Mantle
DeFi
Ecosystem
Web3
To celebrate the rapid expansion of Mantle's DeFi ecosystem, we're pleased to introduce Mantle DeFi Fest — a multi-week campaign split into two phases: the Community Vote and Layer3 Quests. With over 1 million $MNT up for grabs, we're calling all DeFi enthusiasts to dive in, engage with some of Mantle's leading DeFi protocols, and claim their share of the rewards!
Kick things off with the Community Vote and have your say in which DeFi protocols will power Mantle’s Yield Lab! Read on for all the details.
Unlocking Rewards Within Mantle Yield Lab
The 1 Million $MNT reward poolwill be split accordingly:
- DeFi Fest Lottery (40%): 400,000 $MNT allocated to the lottery, which will occur at the end of the campaign after participants have had the chance to accumulate tickets by participating in the Community Vote and Layer3 Quests. Here’s how the DeFi Fest Lottery rewards will be distributed.
- Layer3 Quests (60%): The remaining 600,000 $MNT will be allocated to the Layer3 quests, where participants can complete quests involving on-chain DeFi activities across the winning protocols selected during the Community Vote.
(1) Join the Community Vote: Select the Protocols Powering Mantle Yield Lab
Event Period:
- Nov. 12, 2024 1PM UTC — Nov. 18, 2024 1PM UTC
The first phase of DeFi Fest is all about giving power to the community. We're calling on the Mantle community to vote on which DeFi protocols should power Mantle's Yield Lab. With 24 protocols competing and only 8 spots available, it's up to you to decide which Protocols get the spotlight and move onto the next phase.
Voting Rewards
As a reward for participating in the Community Vote, users will receive 2 lottery tickets, boosting your chance of winning big in the lottery draw at the end of DeFi Fest. Here's everything you need to know to get started right away!
Who Can Vote
The voting requirements are designed to be accessible for all DeFi enthusiasts within the Mantle community. You're eligible to vote if you meet at least one of these criteria:
- Hold any Mantle native assets on Ethereum L1 or Mantle L2, including $MNT, $wMNT, $mETH, $cmETH, $COOK, $USDe, $AUSD, or $FBTC.
- Hold one of the following assets on Mantle L2: $USDT, $WBTC, $USDC, or $WETH.
- Hold a Citizen of Mantle NFT to participate.
How to Vote
- Visit Guild and claim the DeFi Fest Voter Role, which is required to vote.
- Complete the submission form with your wallet details, ensuring the wallet matches the one used on Guild and Layer3. Find the submission form here: https://mantle.to/lab-vote-form
- Join Mantle's Discord, navigate to the #defi-vote channel, and cast your vote.
Voting Rules
Please note that any votes using bots, scripts, multiple accounts, or on behalf of other users will be disqualified from the final count.
(2) Enter Mantle Yield Lab and Complete Layer3 Quests
Event Period:
- Nov. 26, 2024 1PM UTC - Dec. 24, 2024 1PM UTC
The 8 protocols that advance from the Community Vote will proceed to the Layer3 Quests, where users can complete quests on Layer3 and earn rewards. Here’s what’s up for grabs:
- 600K $MNT: The selected protocols will receive $MNT based on their Total Value Locked (TVL) and Daily Active Users (DAUs) throughout the campaign. As users interact with these DeFi protocols — whether by staking, trading, or completing other tasks — protocols will move up their respective leaderboards. The higher the protocol ranks, the larger the prize allocation it will receive to distribute to its users.
Please note that each protocol will set its own rules for the quests. Further details will be shared in due course, so keep an eye out for updates.
- Lottery Tickets: Participants can increase their chances in the lottery by earning tickets through welcome tasks, one-time tasks, and recurring tasks.
Stay tuned for updates on the Layer3 Quests, with more details to be released once the Community Vote concludes. For the latest DeFi Fest news, follow us on X/Twitter and check back on the blog regularly.
(Bonus) 320K $MNT Side Pool
In addition to the 1 million $MNT prize pool, we're introducing a 320,000 $MNT side pool for protocols that don't reach the top 8 in the Community Vote. This side pool offers extra incentives for users who engage with these protocols, which remain an important part of Mantle's DeFi ecosystem. More information will be provided on this once the Community Vote phase comes to an end.
Meet the Mantle Yield Lab Lineup!
To help you get a better sense of who you’ll be voting for in the Community Vote and which protocols are fueling the Mantle Yield Lab, explore our thriving DeFi ecosystem and discover the opportunities within these protocols. Check out the list below to learn more about some of Mantle's standout DeFi projects.
Yield Vault
DeFi Innovation
Money Markets
BTCFi
DEXs
If you have any questions about Mantle DeFi Fest, feel free to reach out to our team on Mantle Discord. A team member will be happy to help!