Unveiling Mantle
The world of decentralized finance (DeFi) is constantly evolving, and among the buzz of innovations, Mantle Journey and 0xMantle are creating waves. Recently, I claimed my MantleMiles rewards from posting on @joinfantech, and the excitement is just beginning. In this article, we’ll delve into the key features of the Mantle ecosystem that caught my attention.
This is a follow-up to my blog on Mantle: https://medium.com/coinmonks/social-fi-is-in-full-swing-how-i-am-farming-the-fan-tech-airdrop-mantle-journey-bb925af7a03a
Mantle: Ethereum Layer 2 Transformation
Mantle, formerly known as @BitDAO_Official, operates as an Ethereum Layer 2 solution. Its appeal lies in its speed and cost-effectiveness. My confidence in Mantle grew after listening to the Steady Lads Podcast, where Jordi Alexander, Mantle’s DeFi specialist, hinted at exciting developments in the pipeline.
mETH: Unraveling the Liquid Staked Ethereum Token
At the heart of Mantle is mETH, a liquid staked Ethereum token subsidized by the Mantle treasury. This subsidy, achieved by holding a substantial amount of staked ETH and forfeiting yield, ensures the highest yield for mETH users. Currently, holding mETH in your wallet can yield an impressive 6–7%, making it an attractive option for those seeking returns.
Claiming @MantleJourney NFTs and Accumulating Miles
Before engaging with any protocol, claiming @MantleJourney NFTs is crucial to kickstart the accumulation of Miles. These Miles can later be converted into $MNT tokens. Having engaged in this process while posting and collecting on @joinfantech, I eagerly await the end of Season 1, anticipating even more opportunities in the future.
Acquiring mETH and Airdrop Hints
To get started with mETH, I opted for @NativeX_fi, where swapping from $ETH or $MNT is seamless. @gametheorizing, Mantle’s Chief Alchemist, dropped hints about upcoming airdrops for mETH holders. The prospect of receiving airdrops while earning yield on ETH adds an extra layer of excitement, and don’t forget, you’re also collecting more Miles in the process.
Leveraging DeFi Applications
Lending on Lendle.xyz To maximize yield, I lent out my mETH on Lendle.xyz, Mantle’s prominent lending platform. This not only boosts your interaction with DeFi applications but also contributes to earning more Miles, enhancing the overall experience within the Mantle ecosystem.
Conclusion
In conclusion, my journey with Mantle has been rewarding, both in terms of yield and engagement with the vibrant DeFi community. As Mantle continues to unfold its potential, it remains a captivating opportunity to let your ETH work for you. If you’re intrigued by content like this, consider giving it a like and following this DeFi raccoon for more updates. Are you on Mantle yet? Where is your ETH headed next in this dynamic landscape?
Join the conversation and explore the possibilities within the Mantle ecosystem.
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