[Mantle Network’s TVL has exceeded US$40 million within one month of launch]
Mantle Network has grown rapidly since its launch last month. The network’s TVL has exceeded $40 million, witnessing significant growth in user deposits.
The first alpha version of the Mantle mainnet, launched on July 17, has quickly jumped to become the seventh largest Layer 2 according to DeFiLlama statistics, second only to well-known chains such as Arbitrum One and OP Mainnet.
Among them, Mantle’s decentralized exchange Agni Finance has become its star product, with a locked value of more than 23 million and a cumulative trading volume of 53.6 million.
Mantle’s growth is closely tied to the influx of assets bridged by Ethereum. According to the Nansen report, approximately 5,000 unique addresses bridged nearly $56 million in assets to Mantle.
Nansen analyst Sandra Leow pointed out that Mantle’s TVL increase is partly due to the popularity of Layer 2 and the rotation of capital away from Ethereum.
Leow said: "Mantle Network is one of the largest on-chain reserves, with $3.2 billion in liquid assets, mainly Mantle tokens and stablecoins, which demonstrates its Layer 2 brand value."
To promote growth, Mantle's DAO ecosystem recently approved a $200 million fund to fund new Ethereum Layer 2 applications, which Leow believes will accelerate Mantle's expansion.
Unlike the single transaction layer of traditional blockchains, Mantle adopts a dynamic modular chain strategy to make execution, data, consensus and settlement independent.