Mantle (MNT) is a blockchain operating at Layer 2 (L2) that has had a significant increase of 40% during the last 24 hours, hitting its highest value ever at $1.49.
Mantle Network functions as a scaling solution for Ethereum Virtual Machine (EVM) that is compatible with Optimistic rollups, enabling speedy and economical transactions.
The modular architecture of the system integrates Optimistic rollups with a distinct data availability layer, resulting in decreased transaction costs and enhanced network efficiency.
The current increase in MNT may be ascribed to the implementation of MNT staking, which entails users contributing to the security and functioning of the network.
The Mantle Rewards Station is a crucial component of this staking program as it provides incentives to those who stake MNT in the Mantle Ecosystem. The staking process starts with the Ethena event, during which users are granted mShards tokens, which have intrinsic value inside the Mantle decentralized finance (DeFi) ecosystem.
Users may trade these tokens inside the Mantle decentralized application (dApp) ecosystem, enabling them to capitalize on possible market development opportunities and enhance liquidity within the network.
Just 4 months ago, HackQuest rolled out Mantle Learn as a part of our strategic alliance with Mantle Network.
Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.
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