Mantle Network | Building the Liquidity Chain of the Future

It's been another month filled with campaigns, milestones, and exciting developments. But don't worry if you missed anything — we've got you covered with July's Mantle Monthly Moments, bringing all of the latest happenings together in one place.

Start COOK'in with Season 1: Methamorphosis

We kicked off July by announcing the start of Season 1: Methamorphosis. With the passage of MIP-30, $cmETH marks the next phase of our growth journey on Mantle LSP as restaking comes to Mantle. This growth phase also introduces $COOK, the new governance token for Mantle LSP. As part of Season 1: Methamorphosis, $mETH holders can accumulate Powder, our "points"-inspired rewards, which will be convertible to $COOK at its Token Generation Event (TGE). Please visit our Season 1 $COOK Campaign Rewards Allocation blog for detailed information on $COOK's tokenomics and vesting schedule.

We're excited to introduce a wide range of Methamorphosis partners, spanning both layer-1 (L1) and layer-2 (L2) live applications, giving all users the best opportunity to accumulate Powder. However, it's worth noting that $mETH holdings and usage on Mantle Network L2 will yield the highest amounts of Powder.

To help users navigate Season 1: Methamorphosis, we've compiled a handy step-by-step guide outlining all the ways to earn Powder on L1 and L2. Check it out here.

Lock $MNT on Mantle & Collect Your Share of 200 Million $COOK

To give users even more opportunities to earn $COOK tokens, we've introduced the all-new Mantle LSP pool on Mantle Rewards Station. With up to 200 million $COOK tokens available, Mantle Rewards Station offers a great chance for users to participate in the next growth phase of Mantle LSP.

The event period is as follows:

Start of Lock-In Period: July 15, 2024 12PM UTC
First Snapshot Date: July 16, 2024
Final Snapshot Date: Oct. 9, 2024

*Please note that the snapshots will be taken at random during the stated dates.

Lock Now

Mantle AI Fest: Claim Your Share of 1,000,000 $MNT & Ecosystem Rewards!

Join the AI movement and earn your share of 1 million $MNT and ecosystem rewards from some of the most trending AI applications in the space. In Mantle's bid to be at the forefront of the AI x web3 space, we are hosting Mantle AI Fest: CH(AI)N REACTION powered by Layer3. Users have three primary ways in which they can get their hands on some $MNT:

Join the Lottery: Complete welcome & advanced tasks & win up to 10,000 $MNT per winner! A total of 200,000 $MNT is up for grabs here.
Challenge Tasks: Open the gateways to 650,000 $MNT & ecosystem rewards!
Mystery Tasks: Keep an eye on Mantle's X/Twitter, as there is 150,000 $MNT on offer that users can win a portion of by completing various mystery tasks.

For more information about Mantle AI Fest and the participating applications, check out our campaign blog. It has everything you need to know and how you can get involved right away. Hurry, as the event ends on Aug. 9, 2024.

Ignition: $FBTC Is Now Available on Mantle

Ignition's Bridge function is live, allowing users to securely bridge their $FBTC to Mantle Network. With $FBTC now available on Mantle, the days of limited yield options with Bitcoin are over. $FBTC holders can access various yield-generating opportunities within Mantle Ecosystem dApps. The team at Ignition recently announced a diverse range of protocols offering yield options for $FBTC, including Merchant Moe, Agni Finance, Lendle, and more.

Visit https://fbtc.com for more information.

Mantle In-dApp TVL Hits ATH

There have also been some significant on-chain achievements this month, highlighted by the impressive growth of Mantle Ecosystem dApps, reaching a new all-time high with over $630 million in-dApp TVL.

The standout performer of the month was Agni Finance, which showcased a 136% increase in TVL over July and currently holds the highest in-dApp TVL within Mantle Ecosystem. INIT Capital and Merchant Moe also demonstrated impressive month-on-month growth, ranking second and third in the in-dApp TVL metrics.

Mantle 1-Year Commemorative Mint

Mantle is officially one year old! July 17, 2024 marked one year since the launch of Mantle Network Mainnet Alpha, and what a year it has been! We've onboarded over 230 projects, accumulated over 110 million transactions, and surpassed $1.3 billion in TVL. None of this would be possible without our incredible community, so a massive shoutout to everyone for supporting Mantle thus far.

To celebrate this occasion, we hosted a One-Year Commemorative Mint, giving users who minted our commemorative NFT a chance to win a share of 17,000 MNT. Additionally, CoM holders who participated in this initiative will receive a complimentary Mantle Sigil add-on trait (one per CoM-holding wallet address) in their NFT armory at the end of the event.

Please note that there are 340 winners in total for the 17,000 MNT prize pool. A snapshot was taken on July 26, when the commemorative mint ended. Rewards will be distributed within 14 working days following the winners' announcement on Aug. 7, so keep your eyes peeled to Mantle's X/Twitter for further updates.

Mantle Sepolia Testnet Hard Fork Upgrade

In anticipation of Mantle DA's migration to EigenDA, we conducted the Mantle Sepolia Testnet Hard Fork Upgrade, which introduced the following changes:

The DA layer on Mantle Sepolia Testnet will be migrated from Mantle DA to EigenDA MetaTx functionality optimization + additional security checks Be sure to check out Mantle Docs for more information.

Community and Events

AMAs

In case you missed them, we hosted several AMAs on our X/Twitter to keep everyone in the loop about Mantle's latest developments and ongoing campaigns. You can listen to the full recordings here:

July Community Townhall

Our team also hosted the July Community Townhall, which was broadcast on X/Twitter. As always it served as an excellent opportunity to connect with our community and cover some interesting developments within Mantle, and listeners also had the chance to claim an exclusive NFT for attending! Here's what was on the agenda:

What's next for Mantle?
What is Puff cooking?
Special announcement!
Open discussion with the community.

Events

The team headed to Brussels in July, where we made appearances at EthCC, L2con, and the Nebular Summit. Here are some of the highlights from our time in Brussels:

Sozu Haus, a Mantle-supported hacker house, hosted a demo day featuring 8-10 pioneering projects. The event allowed the community to connect with builders, enjoy refreshments, and learn about some of the most innovative projects in the space.
Mantle was proud to be a sponsor at EthCC, where our team had a booth to answer all your layer-2 questions about Mantle Network. A big thank you to everyone who stopped by to say hello!
Mantle Mixer with iZUMi Finance. An exclusive event held at La Bourse Rooftop Bar, offering attendees the opportunity to network with industry experts and engage in insightful conversations, all in a stunning setting.
Mantle's Head of BD, Mark (@0xVEER), participated in a panel discussion at L2con on "Rollups and Interoperability Innovations.
Mantle Networking Dinner. We capped our EthCC week off by hosting an exclusive networking dinner at one of the most iconic spots in Brussels, Cave du Roy.
The final stop was the Nebular Summit, where Mark returned to the stage for a panel discussion on "Restaking: The Commoditization of Security." He was joined by speakers from Symbiotic, EigenLayer, and Kiln.

Looking Ahead to August

Mantle Summer Games: Head over to Mantle Discord and get ready to embark on 4 weeks of casual games. With $MNT and Citizens of Mantle NFTs on offer as prizes you don't want to miss out on Mantle Summer Games. Keep an eye on our X/Twitter for further announcements!
dApps Coming to Mantle In August:
- BlockSec
- PumpBTC
- Bushi
Additional campaigns to look out for:
- PoPP Social Summer with Mantle
- PumpBTC

As always, the latest information regarding all things Mantle will be posted on our social media channels, so make sure you're following them all to ensure you don't miss anything.

Season 1: Methamorphosis, $COOK on Rewards Station, AI Fest and More