Mantle, a burgeoning DAO-led web3 ecosystem built around Ethereum layer 2 (L2) Mantle Network and Ether liquid staking protocol Mantle LSP, today proudly announced its strategic alliance with IntentX, a next-generation OTC derivatives decentralized exchange (DEX).
Designed and built to serve Mantle Network and its community as a native flagship perpetual futures exchange, IntentX boasts 261+ trading pairs for the deepest liquidity on a non-KYC (Know Your Customer), permissionless platform. With an astounding 85% of platform revenue going back to $INTX stakers, IntentX revolutionizes the game by pioneering intent-based perpetual products that were previously unavailable on-chain, complemented by one-click trading through conventional web2 login methods.
IntentX has also received seed investment from Mantle EcoFund which enables liquidity support in accordance with MIP-28, facilitating pivotal growth and ecosystem integration. To that end, IntentX will also collaborate with other Mantle EcoFund recipients to bolster token liquidity and wider integration within Mantle Ecosystem.
IntentX Mantle Grant & Incentives
Next to the seed investment from the Mantle EcoFund, IntentX also received a 250,000 $MNT grant to incentivize its traders & users. IntentX has received the largest grant from the Mantle Foundation to date, and users can earn it through two different avenues. One is the Mantle Blitz Minigame, a fun minigame where users guess the movement of BTC in a 10-second timeframe. Users can earn up to 15 $MNT per attempt, and get attempts through trading. The biggest part of the grant is going to a $MNT fee rebate to make trading more efficient. Traders are reimbursed for 50% of their platform fees incurred.
Bountiful Yield Opportunities With $INTX on Mantle
$INTX will also be deployed on Mantle in alignment with IntentX’s ecosystem vision. This move is designed to enhance liquidity, build community, and foster a deeper integration within the broader Mantle Ecosystem. As part of IntentX’s partnership with Ethena Labs, Mantle users will also be able to trade from a range of 261+ $USDe perpetual pairs, and depositors can accrue 20x Sats per $USDe of up to a $10 million cap. IntentX will also integrate $USDe with future Mantle stablecoin projects to improve its trading offerings.
$xINTX Staking and Revenue Distribution
$xINTX represents the staked form of $INTX and serves as the project’s main utility and value capture mechanism. With $xINTX staking, users will receive a boost to their revenue over time, and with the dynamic exit fee structure, this will increase value to all stakers aligned on a long-term basis. With 85% of IntentX’s revenue distributed to $INTX stakers, IntentX is committed to prioritizing value capture and creating sustainability for its community of long-term holders. Alongside the $INTX token launch, Mantle and IntentX will also launch an exclusive airdrop event for its users and early supporters.
One-Click Trading Coming With Account Abstraction
IntentX is building a custom account abstraction solution complete with gas management, allowing Mantle users to access one-click trading with conventional web2 log-in methods. IntentX’s sophisticated intent-based architecture, where traders can express their trading intentions, which are then executed by external solvers and subsequently plugged into centralized exchanges (CEX) liquidity, helps to ensure competitive quotes and minimal slippage. The unique model enables competitive offerings in the perpetual futures space, allowing users to gain access to more liquid, efficient, and scalable on-chain trading. IntentX aims to ultimately bridge the gap between decentralized trading and CEX liquidity as the on-chain derivatives market continues to reach new heights month-on-month.
One-of-a-Kind Trade to Earn Incentives Program
To deepen sustained on-chain liquidity, IntentX traders will be able to earn daily $xINTX rewards through its Trade to Earn program, with new developments to be unveiled in the near future.
Exciting Opportunities for Token Generation
IntentX will be announcing their special token generation event (TGE) following the deployment of its trading platform on Mantle Network. This event will be open to all Mantle users, with more details to be unveiled soon.
Recognizing the importance of a strong liquidity hub for growth and ecosystem building, IntentX’s innovative platform strengthens Mantle Network’s appeal to traders and liquidity providers with unique features and a distinct, tailored identity that seeks to unlock the boundless potential of DeFi on Mantle.
Levy, Founder at IntentX said: “Collaborating with Mantle represents an exciting opportunity for IntentX to not only grow alongside a top DeFi ecosystem, but also to contribute to the innovation and expansion of decentralized finance. We’re thrilled to bring our expertise in perpetual futures trading to Mantle Network and work closely with their team and partners to drive adoption, foster community building, and advance the broader ecosystem.”
Edmund, DeFi Strategist at Mantle, said: “We’re thrilled to have IntentX join our robust ecosystem of partners to enhance the diversity of our trading offerings. As a next-generation perpetual futures decentralized exchange, IntentX’s innovative intent-based technology will further propel users’ sustainable revenue generation and exponentially grow the user base on Mantle. We believe that this strategic alliance will bring us one step closer to envisaging our vision of making DeFi seamless and accessible for users throughout the sprawling web3 ecosystem.”
For more live updates on IntentX’s token generation event, airdrops, and incentives, stay tuned to Mantle and IntentX’s official X channels.
About IntentX
IntentX is a next-generation OTC derivatives exchange offering perpetual futures trading.
At the heart of IntentX is a combination of technological innovations that usher in the next generation of on-chain finance. The platform leverages several cutting-edge technologies, including LayerZero, a cross-chain communication protocol, account abstraction, and SYMMIO, a zero-to-one breakthrough intent based architecture that addresses critical challenges in delivering on-chain derivatives.
Combined, these technologies allow IntentX to offer omnichain deployment, lower fees, greater liquidity, enhanced capital efficiency, and improved scalability versus current solutions.
IntentX is live with over 261+ tradable markets and up to 60x leverage.
About Mantle
Mantle Ecosystem comprises an Ethereum layer 2 (L2) — Mantle Network, a decentralized autonomous organization (DAO) — Mantle Governance, one of the largest on-chain treasuries — Mantle Treasury, and an Ether (ETH) liquid staking protocol — Mantle LSP: all built on Ethereum. Mantle token ($MNT) is the unified product and governance token of the ecosystem.
Mantle’s first core product is Mantle Network, an Ethereum L2. Mantle Network strives to be compatible with the Ethereum Virtual Machine (EVM). Mantle Network’s modular architecture separates transaction execution, data availability, and transaction finality into modules — which can be individually upgraded and adopt the latest innovations. Mantle Network is the first L2 to partner with ETH restaking protocol EigenLayer for the data availability module. By adopting a rollup architecture, Mantle Network is secured by Ethereum. As the world’s first DAO-spawned L2, Mantle Network is pioneering a vision for the mass adoption of token-governed technologies. The current mainnet version, Mantle Network Mainnet v2 Tectonic (Mantle v2 Tectonic), went live on March 15, 2024.
$MNT powers Mantle Network as its native gas token and ecosystem growth token, and serves as the governance token of Mantle Governance. All future Mantle products will likewise be initiated by the $MNT holder community through vote and powered by $MNT.
Mantle’s second core product is Mantle LSP, a permissionless and non-custodial ETH liquid staking protocol deployed on Ethereum L1 and governed by Mantle. Mantle LSP combines simple and modern design with robust risk management, and leverages extensive existing Mantle Ecosystem resources to deliver a highly rewarding experience and supercharges Mantle’s status as a yield powerhouse. Mantle Staked Ether ($mETH) serves as the value-accumulating receipt token of Mantle LSP.
To support the next-generation of innovators, builders, and developers, Mantle is growing its ecosystem via Mantle Grants Program and Mantle EcoFund, a catalyzed capital pool of $200M. Mantle’s Showcase Apps program lends additional support and publicity to ecosystem projects in categories such as real world assets (RWA).