Manta NetWork launches Manta Cedefi, a 10x opportunity with $MANTA during this bullrun season.
Manta CeDeFi is off to an optimistic start, reaching a TVL of over $120 million in its first week.
Data from DeFiLlama shows that Manta CeDeFi had a total (TVL) of $121.5 million after launching on May 19. The impressive growth was likely fueled by Manta offering a two-month rewards program. months for those who deposit assets before the product exceeds 500 million$ TVL for the monthly MANTA airdrop.
Manta CeDeFi
Manta announced the launch of CeDeFi on May 19, CeDefi generates both CeFi and DeFi returns in parallel. Profits are earned through a combination of DeFi yields on the Manta Pacific chain along with stablecoin interest rate spreads on centralized exchanges.
Custody services are provided by Ceffu, formerly Binance Custody. Binance Custody launched in December 2021 and changed its name to Ceffu in February 2023. Assets deposited into Manta CeDeFi are held by Ceffu, users will receive on-chain “custody tokens” representing their holdings they are on Manta Pacific and can be used for on-chain DeFi.
Funds are also “mirrored” to represent assets on centralized exchange Binance through Ceffu's MirrorX service, facilitating the execution of CeFi strategies.
Ceffu generates revenue through Delta neutral, low-risk trading strategies enabled by MirrorX. This FX settlement solution mirrors assets on Binance, minimizing counterparty risk and accessing deep liquidity.
Manta CeDeFi currently supports deposits in USDT, USDC, wUSDM, WBTC, BTCB, ETH, and STONE.
$MANTA was listed in early 2024, current price is $1.75, marketcap of $440 million is the smallest among the new Layer2 crowd. With the changes and updates over the past time, I expect that in the next bullrun season, $MANTA will be 5-10 times the current time.
