Before we get started, this is not a recommendation or endorsement to buy any token(s) mentioned and remember, there is no guarantee that Mantle, FusionX, or Timeswap will reward users with an airdrop.
Similar to DeFi Summer 2020, we’re on the precipice of a new exciting lead into the next crypto bull run, with loads of innovation yielding transformational new protocols, applications, and infrastructure. One major emerging sector of DeFi is the launch and growth of L2s–Mantle being one of them.
The long awaited Mantle Mainnet launched on Monday. Mantle is self-described as “a new high-performance Ethereum L2 built with modular architecture that combines an optimistic rollup protocol with an innovative data availability solution.” Once fully implemented, Mantle will inherit security from Ethereum while offering cheaper fees and more accessible data availability.
Earlier this year on May 19 2023, BitDAO passed a proposal to merge BitDAO with the Mantle ecosystem “to position Mantle as the unified ecosystem brand with a product focus.” This proposal, passed by BIT holders, authorizes a token conversion plan from BIT to MNT, thereby simplifying tokenomics for “a fresh start for the Mantle Network Mainnet.”
Since going live on January 10, 2023, Mantle Testnet reports having supported 14 million on-chain transactions, 140,000+ smart contracts deployed, and 690,000+ unique wallet addresses. While 86 dApps are listed here as building and testing on Mantle Testnet, this recent Mantle Mainnet Alpha launch is just the start of early builders going live with projects related to DeFi, infrastructure, gaming, social, and the Metaverse.
The most unique feature about their new Ethereum L2 is the network being fully integrated with the data availability solution Mantle DA powered by EigenDA technology. EigenLayer’s EigenDA is a decentralized data availability layer, which will help Mantle further reduce L2 transaction fees. Mantle has been at the forefront of adopting this EigenDA solution.
The Mantle team has completed several security audits, whose recommendations were incorporated into their codebase. However, those audit reports have yet to be published and are expected “in the weeks to come” which will likely be published here in their documentation.
Today, I’ll show how I can begin bridging to Mantle Mainnet and exploring DeFi live on Mantle including:
- FusionX (AMM)
- iZiSwap by iZUMi Finance (AMM)
- Timeswap (Lending/borrowing)
How to Farm for 3 Potential Airdrops on Mantle: MNT, FusionX, and Timeswap
Before we get started, please be aware of these risks.
- Smart contract risk in any related app/protocol
- Oracle manipulation risk
- Front-end spoof attack on any app frontend
- Front-end spoof attack on the Mantle homepage, including Mantle Mainnet Bridge app
- An economic design exploit in the design of any protocol
- Stablecoins in a liquidity pool depegging
- Colluding signers on any multisig controlling an app on Mantle Mainnet
- Reminder: There is no guarantee that Mantle, FusionX, or Timeswap will do airdrops.
Here’s how I get started!
1. First, to discover new DeFi protocols live on Mantle Mainnet, I can go to the Explore All dApps page here on the Mantle.xyz homepage and filter for DeFi and Mainnet status dApps. There’s currently only the 7 listed,…
DeFi Dad is one of the earliest power users of DeFi, having worked with early Ethereum startups going back to 2018, including Zapper.
