Mantle (MNT)

Layer-2 Rank #80 🟠 CAUTION
4.7/10

Score Breakdown

Unlock5/10
Tokenomics6/10
Insider6/10
Onchain5/10
Dev Activity1/10
Revenue2/10
Institutional6/10
Etf3/10
Market Structure6/10
Security7/10

Analysis

Mantle's treasury grew to $4.2B through strategic DeFi investments and ETH staking yields, maintaining the largest L2 treasury. The mETH liquid staking token reached $800M TVL, becoming a major Ethereum staking derivative. TVL across the ecosystem hit $3.5B with major DeFi protocols launching native versions. However, the network remains heavily dependent on Bybit for liquidity and market making. Sequencer revenue reached $45M annually, though most value accrues to the treasury rather than token holders.

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