Mantle, the blockchain ecosystem behind Ethereum layer 2 (L2) Mantle Network and Ether liquid staking protocol mETH Protocol, today unveiled its evolution into the largest sustainable hub for on-chain finance. Through its core innovation pillars — Mantle Network, mETH Protocol, and Ignition FBTC — Mantle is building banking for the next generation via the transformative power of blockchain.
“The traditional financial system wasn’t built for the digital age — it was inherited from it,” said Jordi Alexander, Chief Alchemist at Mantle. “We strongly believe the future of global finance will be on-chain. By merging institutional-grade infrastructure with blockchain’s inherent advantages, we’re expanding beyond Mantle’s established strengths to build a robust foundation for seamless institutional capital flows across traditional and decentralized markets. Our dominance across L2 networks and yield products like mETH Protocol and FBTC demonstrate Mantle’s unrivaled prowess, now extended to revolutionize the future of banking.”
In this pivotal next chapter, Mantle redefines a new era of crypto and on-chain finance. The ecosystem will diversify beyond crypto, establishing new standards for security, efficiency, and accessibility across asset classes.
Building Mantle Network: The Liquidity Chain for Institutional Finance
Mantle Network, launched in July 2023, has grown to become a top 5 L2 by total value locked (TVL) with $2.08 billion. Known for its modular design and pioneering adoption of EigenLayer’s EigenDA technology, Mantle Network continues to drive capital efficiency through its unique approach combining modular architecture, data availability solutions, and zero-knowledge validity proofs via Succinct’s SP1.
The network has deployed over 250 protocols on mainnet, including powerhouses like Pendle Finance, Ethena Labs, and CatizenAI. Proving its mantle in building an enhanced yield ecosystem, Mantle Treasury’s unique denomination of USD and ETH assets has allowed the disbursement of over $50 million in rewards to ecosystem adopters to-date, with decentralized finance (DeFi) activities accounting for over 50% of network transactions.
Bridging CeDeFi: New Possibilities for Institutional Capital
Incubated and backed by Mantle, mETH Protocol has emerged as the 4th largest ETH liquid staking protocol with over $1.6 billion TVL. Its complementary offering, cmETH, stands as the 5th largest ETH liquid restaking token. mETH Protocol allows users to accrue Ethereum Proof of Stake (PoS) yields while optimising capital efficiency, demonstrating the protocol’s comprehensive approach to ETH liquidity solutions.
The protocol’s success is evident in its high-impact campaigns. The Double Dose initiative delivered doubled staking yields backed by the Mantle Treasury, with users receiving over 2.098M $EIGEN tokens as rewards. Similarly, its Methamorphosis Season 1 campaign distributed over 250M $COOK tokens to early adopters, while Season 2 continues to drive cmETH adoption.
Setting itself apart from incumbents, users can leverage assets within mETH Protocol across a diverse range of DeFi applications, including liquidity pooling, yield tokenization, perpetuals trading and more. This exemplifies Mantle’s vision of fostering CeFi and DeFi interoperability, with mETH being integrated as trading collateral on major exchanges including Bybit.
Beyond Ethereum-based innovations, Mantle is also pioneering Bitcoin’s evolution in DeFi through FBTC. FBTC maintains a 1:1 peg to BTC while enabling seamless movement across Ethereum, Mantle Network, BNB Chain and more. With over $1.2 billion in TVL, FBTC transforms Bitcoin from a simple store of value into a dynamic, yield-generating asset.
The rapid institutional adoption of FBTC, supported by partnerships with industry forerunners like Avalon Labs, Bybit Web3, OKX and Ethena Labs, demonstrates the growing appetite for innovative Bitcoin solutions in both traditional and decentralized finance. Through FBTC, Mantle is unlocking Bitcoin’s untapped potential, creating new opportunities for institutional capital to participate in DeFi while maintaining the security and stability that Bitcoin provides.
For 2025, mETH Protocol and FBTC aim to scale beyond its current success by expanding integrations across new ecosystems and strengthening its institutional distribution networks.
Supporting Innovation Through Strategic Investment and Extensive Resources
The Mantle EcoFund, with its $200 million catalyzed capital pool, continues to fuel ecosystem growth by backing transformative projects across DeFi, GameFi, and AI applications. The fund partners with 20 leading VCs including Polychain Capital and Dragonfly Capital, while the expanded Scouts Program empowers 40 industry leaders to identify and nurture promising projects — endorsed by prominent members such as Agora’s Founder Nick Van Eck, Delphi Ventures’ Founding Partner Piers Kicks, Ethena Labs’ Founder Guy Young and more.
Ecosystem growth is supported by extensive regional initiatives, including vibrant communities and hackathons across Southeast Asia, Asia Pacific, and Latin America regions. The Mantle EcoFund has emerged as a catalyst for innovation, backing over 30 transformative projects and pioneering cross-chain development through initiatives like ‘Synergy’ — a $5M accelerator with the TON ecosystem.
Extensive resources and strong support pillars reinforce Mantle’s position as the partner of choice for promising projects in web3. Strong ties to Bybit alongside core partnerships with real-world asset (RWA) leaders Agora and Ondo has proven Mantle’s excellence in building institutional-grade products and RWA tokenization for robust financial solutions.
Treasury-Backed Stability
Anchored by Mantle Treasury, the largest community-owned treasury in the ecosystem, Mantle ensures robust liquidity and financial stability across Mantle’s suite of products and asset partners. Current asset partners include Agora AUSD, Ethena USDe, Ondo USDY, and EigenLayer restaking. With over $4.3 billion in assets under management, Mantle Treasury is core to enhancing sustainable yield, deep liquidity provision, and financial utility on the Mantle Network.
Looking Ahead
2024 saw Mantle reach new heights as mETH Protocol and Mantle Network climbed leaderboards of its respective categories.
For 2025, Mantle’s strategic roadmap focuses on three key pillars: establishing Mantle Network as the premier liquidity chain for institutional finance, expanding AI-driven financial applications across information finance, SocialFi, and PayFi, and building an enhanced yield ecosystem through institutional-grade products and real-world asset (RWA) tokenization.
Mantle will soon scale integrations to various ecosystems, while broadening distribution networks across institutional products and other community programs to build banking for the next generation.
For more information about Mantle’s vision and ecosystem, please visit https://group.mantle.xyz.