Ethereum-Compatible Layer-2 Blockchain Mantle Hits All-Time High

By: Eliza Bennet

Following the launch of its staking system and an increase in the adoption of Ethereum-compatible Layer-2 (L2) scaling solutions, Mantle (MNT) has recorded a significant performance boost. The token surged by 40% in the past 24 hours, reaching an all-time high of $1.49.

Mantle's unique architecture employs Optimistic rollups, enabling swift and cost-effective transactions. These rollups also minimize the overall load on nodes, improving the network efficiency of Mantle, a system that handles key blockchain functions on different layers.

Mantle's EVM-compatible execution settlement layer carries out transaction execution. This approach significantly reduces transaction costs compared to the base layer. Moreover, a major growth catalyst for MNT is the addition of MNT staking, offering rewards to MNT stakers from the Mantle Ecosystem. Rewarding participants further strengthens the network's security and operations.

To optimize decentralized finance activities within Mantle's network, users receive mShards tokens during the staking process which jumpstarts various DeFi activities, including trading, investing, and more within the Mantle Ecosystem. The tokens also provide liquidity, fostering an active ecosystem.