July 2023 marked the launch of Mantle Network as an Ethereum Layer-2 — and the beginning of our mission to drive the mass adoption of token-governed technologies. Hundreds of dApps, multiple ecosystem collaborations and several major upgrades later, Mantle Network is not only the chain where liquidity is built, but where the next era of on-chain financial services is propelled — the Blockchain for Banking as Mantle Network forms the crucial foundational layer for which Mantle's category-defining vision is realized.

To date, Mantle Network has processed more than 247M transactions, with $MNT market cap growing to $2.46B. As we venture into our third year, we’re building on this momentum — strengthening our technical core, expanding our ecosystem, and continuing to grow with the unwavering support of our builders and community.

UR x Mantle Network — Your Blockchain for Banking

Mantle Network is the blockchain that forms Mantle's bedrock, facilitating the growth and scaling of Mantle's various innovation pillars. From mETH Protocol all the way to UR, the smart money app that was recently unveiled, Mantle Network is not only supercharging DeFi and other category dApps, but has now expanded into a multi-purpose vertical network that new and existing applications can use as a launchpad to accelerate and optimize development.

Mantle's Q3 Letter to Token Holders paints an ambitious future that we're committed to, beginning with UR, which firmly anchors financial activity on-chain on Mantle Network. This includes running UR's crypto-to-fiat deposits, card payments, FX, peer transfers, and bank transfers, but Mantle Network is set to do more than just that:

1. Transactions posted to the blockchain to enable real-time auditability, proof of reserves, and automated compliance through smart contracts.
2. Compatibility with TradFi rails to enable a unified fiat and crypto account capable of on-ramping and off-ramping both fiat and crypto.
3. Integrated DeFi features to turbo-charge finances in a seamless and abstracted manner.

All About $MNT

$MNT continues to power Mantle's ecosystem, serving as the cornerstone for governance and growth. Holding $MNT has thus far allowed access to multiple ecosystem initiatives (namely centralized exchanges in Q2) and enhanced yield opportunities, this quarter culminating in more Mantle Rewards Station perks and on Bybit Megadrop.

• Mantle Rewards Station has distributed over 29M USDT* worth in yield rewards via $MNT, $WOO, $EIGEN, $ENA and more (more than 30M USDT* worth with the addition of the latest MNT Rewards Booster S3 program)
• Through Mantle's strategic partner Bybit, MNT stakers accessed rewards such as $SKATE, $BOMB, $XO, $TAC and more over 6 Bybit Megadrop events
• We've also collaborated with centralized exchanges such as HTX, Gate.io, MEXC and others to bring $MNT to more users
• Improvements with a brand new Rewards Station 2.0 are in the works

We're consistently widening access to $MNT through a diverse set of listings, with the latest addition being on Kraken Pro.

Find out more about MNT and MNT yield here.

*At the time of calculation.

Technical Architecture Upgrades: Strengthening Security & Efficiency

Our goals were clear for 2025: Mantle Network would fully integrate EigenDA and Succinct's zkVM. We have achieved the former and are on track to integrating OP-Succinct on Mantle Network Mainnet by Q3 2025 — delivering true innovation in blockchain infrastructure by striking the right balance between performance and security.

Following EigenLayer's upgrading of EigenDA to EigenDA v2, we'll be working on bringing this new iteration to Mantle Network users so they can verify data publication without relying on the Mantle Sequencer or EigenDA Operator, while also enhancing transparency.

More on that here.

Driving Builder & Ecosystem Support

Mantle Network is committed to powering the next wave of breakthrough applications by working hand-in-hand with builders. From idea to scale, we provide the infrastructure, resources, and support needed to go from concept to category-defining. Whether you're launching or growing, Mantle is where vision meets execution.

In line with this, Mantle Network's developer relations team introduced our flagship hackathon — the Cookathon, while also mentoring builders at global builder events such as Cinco de Mayo, ETHGlobal Cannes and of course, Mantle Ecosystem initiative Sozu Haus' hacker houses.

The Cookathon runs from May 2025 to October 2025 with a bounty of $15,000. Cook 01 and 02 saw the participation of 204 builders in total with 6 winners coming out on top. We're in the midst of the third iteration, Cook 03, and look forward to greater builds emerging in the next hackathon rounds.

For early builders seeking the quickest, easiest path to get funded, Lightning Grants was introduced in July 2025 to spark builder ideas or MVPs into live deployments — fast, on Mantle Network. The Lightning Grants program joins Mantle Network's list of various other funding initiatives we've rolled out since the start, all designed to grow with different builders with different needs. You'll be able to learn more about each grants program in detail to find one that suits you the most with our new grants page, coming soon this quarter.

• Ecosystem dApp Highlights: We welcomed Funny Money and Phala Network to the fam, alongside other integrations with SolverNet, Heurist, AEON, Pistachio, deBridge, Noves, Everclear, Debita, Hive Intelligence, Pimlico and World3 in the last quarter. Mantle Network is home to 300+ dApps, which gives us the flexibility to bring wider themed events to you. In Q2 2025, HyperPlay Gaming brought you the multi-week Mantle Games Fest, where users had the chance to experience new web3 games on the market. And not to forget how with Kaito, we've distributed 100K in $MNT (and 50K $MNT more to come in the next phase) to loyal community content creators who constantly showed up to talk about Mantle. In Q3 2025, we're gearing up to bring you more DeFi and DeFAI dApps.
• Mantle Meetups & Events: We've met the Mantle community at more than 50 events this year, including ETHDenver, Token2049 Dubai and EthCC. Our Mantle Meetups program has brought Mantle to new audiences around the world, empowering some of our strongest community leaders to expand their local impact. These truly grassroots events are organized and hosted by developers, builders, creators, and advocates from within the community. Since launching, Mantle Meetups have taken place across 5 continents and in more than 10 countries. We’re excited to keep growing the Mantle community and supporting the brightest builders and leaders shaping the future of web3.

A shoutout to the Mantle community for sticking it out with us since the launch of Mantle Network. As the Mantle ecosystem scales, we're excited to deliver better use cases, supercharged product performance, greater value accrual and more to those using Mantle Network.

In 2025, our mission is to focus on attracting high-volume use cases created by premier developers to the Network, including RFQ-based trading systems and innovative RWA platforms. Stay tuned to Mantle on X — here's to another year ahead!