Odaily Planet Daily News Manta Network co-founder Victor Ji posted on the X platform to share the progress of the project in the four months after TGE: First, TVL dropped from $2 billion to about $800 million. We believe that this is related to the excessively high yields given by various L2 and Restaking projects in the market. Everyone has learned Manta's New paradigm and turned this lock-up airdrop paradigm into a basic operation for each L2 (even no matter how long it takes to go to the main network). Although Manta continues to develop the renew paradigm to give projects within the ecosystem a better opportunity to develop, we found that many users do not care about ecosystem projects, but only expect the benefits of the chain, which makes us either give a very amazing amount of MANTA to maintain TVL or choose the loss of TVL. However, when we found that the ecosystem projects in the renew paradigm were not attractive enough, we chose another direction: 1) With the launch of Manta CeDefi today, we brought the benefits of funding rates, which is the highest benefit in this market neutrality, to BTC, ETH and stablecoins on the chain. All assets can rely on CeDeFi products to obtain relatively high native returns. This is more durable and stable than the MANTA token subsidy. As the market value of each L2 goes online and gets smaller and smaller, we can find that the era of TVL incentives for native tokens is basically over. In addition to the current CeDeFi, Manta is also very concerned about the construction of the RWA-oriented ecosystem. We first cooperated with the most compliant native yield stablecoin USDM in the United States, and everyone will see further development after this cooperation. In Asia, we joined Hong Kong Cyberport and will further promote the behavior of financial institutions on the chain; 2) We will further develop Manta's ecosystem. Our ecological projects have increased to 200+, and there are more than 50 DeFi projects in DefiLlama. This shows that Manta has a comprehensive ecosystem, but it also needs to continue to build better product builders. Now Manta's problem is the same as Ethereum and all EVMs. There are many builders, but there are not enough to form cooperation within the ecosystem. We insist on iterating products within the ecosystem. We have seen some potential in zk app accelerators, such as Nimble and Gull.In addition, there were various problems in the coordination of ecological projects in the previous renew paradigm, such as ZeroLend's airdrop was not issued in time, Stakestone did not get EigenLayer points, etc. However, the products and technologies of ecological projects will have some limitations and cannot be iterated in time. We apologize to the community for this and will learn lessons to promote the implementation of relevant benefits earlier. In short, Manta's bottom layer has a very good foundation, very low gas fee, Binance's ETH direct deposit and withdrawal, and a very open ecological environment. However, at the same time, we will further hold hackathons, further open the governance system and grant application mechanism, and promote real large-scale applications with the community. 3) In the development of infrastructure, we are also in the process of integrating type1 prover, and strive to promote Manta to be the first L2 in OP Stack to implement multiprover. At the bottom layer of zk applications, we are also working hard to promote product integration with RWA-related scenarios. In addition, we also have more decentralized explorations in decentralized sequencers and other aspects.