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Now, back to the topic at hand; Mantle…
In today’s edition, we’re briefing you on several key projects within the Mantle Ecosystem. Certainly not to be confused with Manta, Mantle is an emerging L2 chain, utilizing EigenLayers DA. The chain notably has support from the largest treasury in DeFi in BitDAO, as well as a strong supporting cast including Jordi Alexander, CIO at Selini Capital. Mantle’s Journey Rewards program was recently concluded, allowing for 15M $MNT (~$9M) to flow into native projets. More importantly, the chain holds several incentives initiatives...
It’s EigenLayer integration means there could be some potential for airdrops, especially as it pertains to the restaking of $mETH. In addition, the team has teased some potential airdrop rewards from core ecosystem projects for $MNT stakers in the future; notably staking has not even been released yet. Individual projects also have their own schemes, with points programs, early adopter incentives, etc.
Mantle is a chain that recognizes the benefits of getting involved and helping to develop an initial ecosystem of apps, which can create a snowball effect for other developers and founders to join the chain. The project has gone to great lengths to grow their userbase, launching the Mantle Citizen NFTs, the Mantle Journey miles program, double dose $ETH yield via $mETH, and more…
Tailwinds for Mantle
The Mantle Ecosystem has a number of headwinds headed its way. From EIP-4844 serving as a rising tide for all L2s, to Mantle’s monstrous treasury and user-oriented focus, there’s a lot to look forward to. As the L2 is still relatively young, there is a smaller ecosystem of projects compared to other chains. But this comes with increased support from the Mantle Treasury through various funds, strategies, and liquidity programs, which is drawing the attention of more market participants to Mantle’s offerings….
Range Protocol
What is Range Protocol?
Range Protocol is a protocol focusing on providing infrastructure for non-custodial asset management through automated vaults. It enables skilled vault managers to implement and execute a variety of sophisticated, automated strategies with full transparency on the blockchain. Range Protocol’s vision is to bring professional-level asset management to blockchain-based assets, rivaling traditional financial platforms in scale and efficiency. The protocol supports a diverse array of strategies, including spot trading and Automated Market Makers (AMMs) on platforms like Uniswap, Pancakeswap, and Quickswap, optimizing yields in liquid staking environments (e.g., stETH, fxsETH), managing assets in NFT finance, and leveraging opportunities in decentralized derivatives markets (such as GMX, QuickPerps, Lyra, Opyn). Range Protocol has launched its first product focused on Automated Liquidity Management Vaults for concentrated liquidity AMMs, marking its initial step towards realizing its comprehensive vision in DeFi asset management.
Why Range Protocol Might Be Interesting
Range Protocol might be an interesting protocol due to its approach to on-chain asset management through automated, non-custodial vaults. By enabling sophisticated vault managers to execute diverse strategies with transparent, on-chain execution, it opens up a realm of professional asset management that parallels traditional financial platforms but with the added benefits of blockchain technology, like decentralization and transparency. The protocol caters to a wide range of strategies including Automated Market Makers (AMMs), liquid staking, NFT finance, and decentralized derivatives, thus addressing various high-demand sectors within the DeFi ecosystem.
INIT Capital
What is INIT Capital?
INIT Capital is a decentralized finance (DeFi) platform designed to address the issue of liquidity scarcity in the DeFi space. It introduces an innovative concept called “Liquidity Hooks,” which are essentially plugins that allow various decentralized applications (DApps) to access and utilize liquidity more efficiently. These hooks enable advanced financial strategies like leverage staking, farming, margin trading, and more, without the need for DApps to spend their native tokens for liquidity. INIT’s architecture features multi-silo positions for independent risk management, and the ability to use LP tokens as collateral. By facilitating seamless liquidity access and management, along with features like flash borrowing and a user-friendly interface, INIT Capital aims to enhance composability in the DeFi ecosystem, attract more users, and create a sustainable growth loop by increasing borrowing demand and yield opportunities.
Why INIT Capital Might Be Interesting
INIT Capital is an interesting protocol due to its unique features that address critical challenges in the DeFi space. Firstly, its Liquidity Hooks offer an innovative solution for DApps to access and utilize liquidity more efficiently, enabling a range of advanced financial strategies without the usual liquidity constraints. Secondly, the protocol’s Flash Borrow feature allows for more flexible borrowing options, where users can borrow one asset and provide another as collateral within a single transaction, opening up new possibilities for financial maneuvers. Thirdly, the Multi-Silo Position structure ensures that each lending and borrowing position is isolated in terms of risk, enhancing security and flexibility for users. Finally, the ability to use LP tokens as collateral broadens the scope for users to leverage their existing DeFi investments. These features collectively make INIT Capital a potentially transformative protocol in the DeFi ecosystem, offering greater composability, flexibility, and risk management.
Other Projects to Watch
Ethena, Ondo, as well as others like Butter XYZ (all-in-one exchange), Tsunami X (spot and margin trading), or Mintle (NFT marketplace powered by Rarible) among others.
It is important to also emphasize that established teams with a long track record like the Byte Masons will be launching two projects on Mantle as well: Cleopatra, and Aurelius.
MethLab
MethLab is a new intents-based, lending-and-borrowing project, native to Mantle.
It is designed by Jordi Alexander, Alchemist at Mantle, & CIO of Selini Capital.
The project is unique in that it allows users to specify the yield they want.
Instead of starting with collateral, the focus is on determining the desired yield and then adjusting the requirements accordingly.
This approach allows for more flexibility in borrowing against tokens like $mETH & $MNT.
Similar toTimeswap, there is no liquidation mechanism, making it a safer option without the need for oracles
As markets become more volatile during bull runs, there is significant potential for innovative lending solutions.
The MethLab product is being built by the Core Mantle team and is one of the Showcase apps.
The core team has extensive experience and expertise in building innovative solutions.
MethLab has already secured over $21M in TVL in its testnet phase, across both $mETH and $MNT deposits.
Merchant Moe
Merchant Moe, announced in December, brands itself as the liquidity cornerstone of Mantle.
The project is a spinoff, launched by Trader Joe; unlike other Trader Joe DEX expansions to other chains, Merchant Moe is distinct and has its own native $MOE token.
The launch included an airdrop of $MOE to $JOE stakers, the only way to initially acquire the token.
$MOE can be staked for stablecoin yield from protocol fees while also receiving veMOE voting rights; the ve system allows for parties to incentivize voting for certain pools.
Merchant Moe features Liquidity Book, the AMM protocol also powering Trader Joe.
The launch included an airdrop to $JOE stakers.
Announced in December, the project has quickly accumulated $15M in TVL.
Merchant Moe receives official liquidity support from the Mantle Treasury, as apart of the MIP-28 Proposal.
If you’re finding this information useful, you can access our full Mantle Launch Alpha for FREE.
Our full report goes over several key projects on Mantle, why you may want to pay attention to them, and more.
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Your Airdop guide has the last one updated only in 2023? Do you plan to keep that list current?