Mantle

Mantle operates an open financial network that connects market participants to institutional-grade capital market assets onchain. Its core infrastructure is Mantle Network, an Ethereum Layer 2 with a modular design that it describes as the first adopter of EigenLayer and EigenDA, and which serves as the base for the group's other products. The MNT token underpins governance, staking and ecosystem incentives, and the explorer for Mantle Mainnet tracks MNT price, market cap, block production and L1-to-L2 transactions.

Around the network, Mantle runs several product lines: mETH Protocol, a liquid ETH staking and restaking protocol whose tokens are accepted as collateral on centralized exchanges, DeFi applications and money markets; Function, a decentralized Bitcoin solution bridging BTC into Web3; Mantle Index Four, an institutional-grade, yield-bearing product providing diversified exposure to a basket of top crypto assets; UR, a borderless smart money app for spending and off-ramping powered by Mantle Network; and MantleX, an artificial-intelligence-focused initiative. The company positions the stack around distribution to global markets, a single composable system for issuing, trading and settling assets, and custody, compliance and security standards aimed at institutions.

A large community-owned treasury sits at the center of the ecosystem, reported at roughly $2.23 billion as of 30 August 2026 and allocated mainly to MNT, BTC, ETH, stablecoins, mETH/cmETH, bbSOL and other assets. The treasury is described as ensuring stability and funding strategic growth across Mantle's businesses.

Business model

Mantle operates blockchain infrastructure and financial products rather than selling software directly: it runs an Ethereum Layer 2, a liquid staking and restaking protocol, a Bitcoin bridging solution, an index product and a consumer money app, with the MNT token serving as the ecosystem's governance and staking asset. A community-owned treasury, reported at about $2.23 billion in August 2026, funds strategic growth, and the $200 million Mantle EcoFund deploys capital into ecosystem projects.

Traction

As of August 2026 Mantle reported $890 million of "Real World Capital" (stablecoin market cap plus RWA market cap), more than 1 million active users, over 710 RWA assets and more than 200 ecosystem partners and dApps. The Mantle Mainnet explorer recorded about 294.8 million cumulative transactions and MNT market capitalization of approximately $1.71 billion. The treasury stood at roughly $2.23 billion on 30 August 2026, and $116.4 million of tokenized active strategies was reported in July 2026.

Latest developments

In July 2026 Mantle listed Bending Spoons ($BSPx) tokenized equity issued by xStocks, went live with Openstock's onchain pre-IPO vaults, migrated the Mantle Super Portal from LayerZero to Chainlink CCIP, and reported $116.4 million in tokenized active strategies. In August 2026 it marked the first anniversary of its RWA business, with the treasury reported at about $2.23 billion.