#Write2earn Manta CeDeFi Surges to $120M in TVL Amid Early Adoption Frenzy

#MANTA $MANTA #TotalValueLocked

Manta's new CeDeFi product has quickly garnered over $120 million in assets since its launch on May 19. According to DeFiLlama, Manta CeDeFi's total value locked (TVL) reached $121.5 million, boosted by a points program offering MANTA airdrops to early adopters.

Rapid Growth and User Concentration

While Manta CeDeFi has grown rapidly, its user base is concentrated, with two whale wallets contributing nearly $100 million. Manta is now the ninth-largest Ethereum Layer 2 network, with a TVL of $768 million.

Innovative Yield Strategies

Manta CeDeFi generates yields through both DeFi on the Manta Pacific chain and stablecoin arbitrage on centralized exchanges. Custody is managed by Ceffu (formerly Binance Custody), providing secure on-chain tokens for DeFi activities and mirrored assets for CeFi strategies.

Supported Assets and $MANTA Token Surge

Manta CeDeFi supports deposits in ETH, STONE, wBTC, BTCB, $USDT , $USDC , and wUSDM. The MANTA token recently surged 25% to $1.76, reflecting growing interest in the platform.

Stay updated with Manta CeDeFi’s progress and explore new financial opportunities in the evolving world of CeDeFi and DeFi.