After an incredible Q1 for Mantle Network, we've started Q2 with the same mindset that has driven Mantle's success since the launch of Mantle Mainnet Alpha. With the introduction of new campaigns on Mantle Rewards Station, exciting integrations, and new developments coming out of Mantle Ecosystem dApps, it's safe to say April has been a busy month for Mantle. If you missed anything, here's a recap.

Mantle's TVL Surpasses $1 Billion

At the start of the month, Mantle Network achieved a significant milestone by surpassing $1 billion in Total Value Locked (TVL). This achievement is a testament to the team's hard work in establishing Mantle Network as a prominent layer 2 (L2) solution. It also demonstrates the promising outlook for Mantle Network as a destination for developers and projects seeking to scale their respective protocols as Mantle continues its mission of becoming a DeFi paradise.

Mantle Ecosystem dApps Show Strength

It's been another strong month for many of Mantle's ecosystem dApps. Despite INIT Capital's continued growth throughout April — with its TVL rising 16.03% from the start of the month through April 24, 2024 — Pendle holds the number one spot for TVL among Mantle dApps. This success can be partly attributed to Pendle's involvement in the ongoing Ethena Sats campaign, where users can utilize Pendle pools on Mantle to trade USDe YT, PT, or provide liquidity to earn Sats. Users can earn 20x Sats per USDe held in USDe YT or LP positions, with a current cap of $200 million. For a complete guide on the Ethena Sats campaign on Mantle, click here.

Merchant Moe's TVL has experienced a significant change, increasing by 77% since the start of the month. It's been a busy month for the Merchant Moe team, as they introduced Liquidity Book (LB) v2.2 into the protocol. LB , built by Trader Joe, is a concentrated liquidity protocol designed to address many of the key problems presented by classic Automated Market Makers (AMMs) and other concentrated liquidity protocols. The unique experience of providing liquidity with LB offers users a sense of limitless potential while managing their assets.

Rewards, Rewards, and More Rewards

Last month, we introduced the Mantle Rewards Station, which allows users to lock $MNT in exchange for rewards. We kicked off with the Mantle Sharding With ETH ena campaign, and to keep the momentum going, we recently announced the Mantle MYSO Raffle Event. Users can lock their $MNT tokens on Mantle Network for a chance to win a share of 90,909 MYSO tokens ($MYT).

The event period is as follows:

• Official Lock-In Start Date: April 25, 2024, 10AM UTC
• Snapshot Period: April 26, 2024, 10AM UTC - May 3, 2024, 9.59AM UTC
• Redemption Period Start Date: May 4, 2024.

For more information about the campaign, visit here.

FBTC Comes to Mantle Network

In April, we saw the introduction of FBTC, an omnichain BTC asset designed to offer deep liquidity and diverse yield opportunities, bridging the benefits of the Bitcoin and Ethereum ecosystems to the Mantle community. FBTC maintains a 1:1 peg to Bitcoin, and is intended to enhance its utility beyond a simple store of value by providing a BTC asset that is liquid and easily composable in various yield-enhancement strategies.

With Antalpha Prime, a reliable digital asset technology platform for institutions, as a core contributor, we are excited to see the upcoming developments of FBTC. If you'd like to learn more about FBTC, please visit here. To ensure you're fully updated with its latest developments, follow them on X/Twitter.

Introducing Mantle Missions

In line with Mantle's ongoing vision to build a DeFi Paradise, we are excited to announce the introduction of Mantle Missions. Within this initiative, users will engage in a series of quests across Mantle Ecosystem. This not only offers a chance to earn rewards but also provides a great opportunity to interact with and explore the functionalities of the dApps within the ecosystem. The official Mantle Missions page is now live. Visit it to discover the wide range of quests currently available.

Latest Additions to Mantle Network

April has been another busy month for integrations and launches on Mantle Network. Here are some of the latest protocols that joined Mantle Network in April.

• In collaboration with Fingerlabs, Mantle introduced "Begins≠Youth," inspired by K-pop sensation BTS's "The Most Beautiful Moment in Life." This captivating series of K-drama NFTs is distributed exclusively via Xclusive. Head over to Xclusive's platform to check it out.
• IntentX, Mantle's first intent-based perpetual DEX, has officially launched on Mantle Network. Users can trade from over 261 trading pairs without the hassle of KYC. Those who deposit $USDe and start trading these pairs can accumulate 20x Sats per USDe, with a cap of $10 million.
• Mantle also announced a new alliance with Catizen, an innovative game network developed by Pluto Studio. The integration was a big success, with Catizen attracting 300,000 registered users and 39,000 on-chain users in the first 24 hours after its launch on Mantle. Check out Catizen here.
• KyberSwap, a leading DEX aggregator, also deployed to Mantle Network, promising users an unparalleled trading experience.
• Odos Protocol is a DEX aggregator that recently integrated with Mantle. Odos uses an intent optimization algorithm to offer superior exchange rates for single and multi-token swaps.

Community Engagement

AMAs and Townhalls

Although the Mantle team has been busy with all the integrations and developments within the Mantle Ecosystem, we still managed to connect with the community throughout the month. Here are the AMAs we hosted to address some of the community's most burning questions:

• Showcase Radio Ep. 6
• Showcase Radio Ep. 7
• Mantle Ecowaves Ep. 5

In addition to these, we hosted the Mantle Community Townhall, April 2024 edition. During this session, the community had the opportunity to learn about the latest product and developer updates, hear the latest alpha from ecosystem projects, vote for their favorite Mantle project, and connect with fellow community members.

Events

It was another month filled with interesting web3 events that members of the Mantle team attended. Here's a list of some of the events our team members attended throughout April.

• Restaking Modula Event, hosted by IOSG Ventures
• SevenX New Trends Summit
• Hong Kong Web 3.0 Spring Summit
• Dubai Blockchain week
• Asia Blockchain Week

Looking Ahead

Mantle plans to keep the momentum going with some exciting developments. Here are a few things to look forward to in the near future.

• The launch of FBTC.
• Vertex Protocol, a lightning-fast orderbook DEX with powerful trading features & cross margining for max efficiency, will be launching on Mantle Network.
• Keep your eye out for new Mantle Reward Station initiatives
• Mantle x Game7 Dungeons & Degens, a play-to-earn gaming fest with a prize pool of up to 2 million $MNT! It integrates premiere games from the Mantle Network with leading Web3 gaming communities.
• We are also expecting the launch of MetaCene, a Next-gen blockchain MMORPG homeland.

The best way to stay informed about the latest developments and ensure you don't miss any opportunities is to follow and engage with Mantle's social media channels:

• X/Twitter
• Telegram
• Discord