Mantle EcoFund Ignites DeFi Innovation with $10M Infusion
A key milestone has been declared by Mantle EcoFund, which was born from a Mantle Governance vote (MIP-24) in July 2023, marking a significant advancement in the decentralised finance (DeFi) field. The Mirana Ventures-run fund has already gone beyond its original capital call goal of $10 million. New initiatives inside the Mantle Ecosystem will be further energised by a second $30M funding call, which is planned to occur after this development.
A Kaleidoscope of Projects Receiving Financial Empowerment
The fund’s investment portfolio is a tapestry of innovation, encompassing a diverse range of DeFi projects:
- Merchant Moe: Emerging from the Trader Joe team, this automated market maker (AMM) decentralized exchange (DEX) is carving a niche as a pivotal liquidity hub within the Mantle Ecosystem.
- INIT Capital: Poised to redefine liquidity access, this upcoming “Liquidity Hook” money market on Mantle Network is a beacon for dApps and users seeking seamless financial interactions.
- Butter.xyz: As a Mantle-native DEX, Butter.xyz is a haven for trend-driven opportunities, championing transparency and fairness.
- Renzo: A burgeoning project on EigenLayer, Renzo is redefining ETH restaking, offering secure compounding rewards.
- MUFEX: This multichain decentralized perpetual exchange mirrors the centralized exchange experience, marking a new era in DeFi trading.
- TsunamiX: Blending gaming with finance, this DEX introduces an innovative pricing model, marrying safety with yield-earning strategies.
Fostering Liquidity and Ecosystem Expansion
Mantle EcoFund’s role extends beyond mere funding; it’s a catalyst for liquidity and growth. In alignment with Mantle Governance MIP-26, the fund is poised to provide substantial liquidity support to its invested dApps, a critical factor in their stability and growth.
Shining a Light on Merchant Moe and INIT Capital
Merchant Moe’s launch was nothing short of spectacular, capturing the attention of 4.7k users on day one and securing $25M in TVL within a week. 0xMurloc, the co-founder, praises Mantle’s unique features like EigenDA technology and the $mETH staking derivative as key to their decision.
INIT Capital, with its vision to democratize liquidity access, is another beacon of innovation. Tascha Punyaneramitdee, the founder, speaks of leveraging Mantle’s nurturing environment to revolutionize liquidity access.
Butter, Renzo, MUFEX, and TsunamiX: Diverse Pillars of Mantle’s Ecosystem
Each project brings its unique flair to the Mantle Ecosystem. From Butter’s speculative focus to Renzo’s restaking solutions, MUFEX’s seamless trading experience, and TsunamiX’s gamified approach, they collectively enrich the Mantle network.
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Embracing $mETH and $mUSD: Crafting a Yield Powerhouse
The integration of $mETH and $mUSD by Merchant Moe, INIT Capital, Butter, Renzo, and MUFEX is a testament to Mantle Ecosystem’s burgeoning status as a yield powerhouse. David Toh of Mirana Ventures expresses enthusiasm for this integration, foreseeing a rewarding user experience and a strengthened ecosystem.
Broadening Mantle EcoFund’s Portfolio
These six projects join hands with Mantle EcoFund’s existing portfolio, including LiquidX, Valent, and Range Protocol. This expansion underscores Mantle EcoFund’s commitment to nurturing a robust and diverse DeFi ecosystem.
Mantle EcoFund’s recent investments signify a pivotal chapter in the Mantle Network’s narrative. By championing diverse and innovative DeFi projects, Mantle EcoFund is not only fueling growth within its own ecosystem but also sculpting the future landscape of decentralized finance.
