Mantle Network crosses $40 million in TVL within a month of launch

Mantle Network, a Layer 2 blockchain network operating on Ethereum, has seen notable growth since its launch last month.

The network’s total value locked crossed the $40 million mark, a key metric that underlines the increased user deposits on the network.

The mainnet alpha for Mantle was officially launched on July 17, and it has quickly become the seventh most valuable Layer 2 blockchain in terms of TVL, according to DeFiLlama, following major players like Arbitrum One, OP Mainnet, zkSync Era, Base, Starknet, and Immutable X.

One standout feature contributing to Mantle’s TVL is its native decentralized exchange, Agni Finance. The value locked in that exchange alone has surpassed $23 million, volume reaching $53.6 million.

(The Block) #crypto2023