Add Collateral MNT on USDe Markets on Mantle Network

Proposals
1

Add Collateral MNT to USDe Market on Mantle Network

Introduction

The Mantle Core Contributor Team proposes listing Mantle (MNT) tokens as collateral on USDe markets on Mantle Network. This would enable Mantle’s core users to leverage their MNT tokens, borrowing USDe to participate in DeFi activities throughout the broader Mantle ecosystem. Listing MNT as a collateral asset is expected to drive increased borrowing activity and user engagement on Mantle Network.

Type: Collateral deployment

Authors: 0xGabe, DeFi Growth Lead at Mantle Network

Motivation

Mantle (MNT) is the native token of Mantle Network, a modular Ethereum Layer-2 solution designed for high-performance and cost-efficient smart contract execution. Mantle Network leverages Ethereum’s security while incorporating EigenDA, an innovative data availability solution to enhance scalability and reduce transaction costs. Mantle Network is also actively advancing its technical roadmap to be the first ZK validity rollup with Succinct’s SP1.

MNT serves multiple purposes within the Mantle ecosystem, including:

  • Network Gas: MNT is used to pay for transactions and smart contract execution on Mantle Network.
  • Governance: MNT holders participate in Mantle governance, influencing protocol upgrades, treasury allocations, and ecosystem development initiatives.
  • Ecosystem Incentives: MNT facilitates developer incentives, liquidity mining, and ecosystem growth initiatives. MNT is also a principal asset on Mantle Reward Station, an all-in-one platform where participants can get easy access to a diverse range of ecosystem rewards.

By listing MNT as collateral on Compound, we aim to enhance its liquidity and utility while providing Compound users with access to an emerging Layer 2 token that plays a key role in advancing Ethereum’s modular scaling roadmap.

Important Links

Next Steps

We invite the community to give their feedback and recommendations for the asset.

5 Likes
2

Thank you @0xGabe. As Governance tokens/Gas tokens are collaterals on multiple chains like Arbitrum and Optimism, it makes sense to get MNT listed as collateral on the Mantle Markets.

We will proceed with deployment of the Collateral after receiving recommendations from @Gauntlet

1 Like