Category: NFT News

Mantle Launches Rewards Portal With Ethena Shards Up For Grabs

By Published On: March 27, 20241.5 min readViews: 1380 Comments on Mantle Launches Rewards Portal With Ethena Shards Up For Grabs

The Layer 2’s MNT token surged 40% after a listing on Korean exchange Upbit.

Mantle, the Ethereum Layer 2 network that boasts crypto’s largest liquid treasury and nearly $900 million in total value locked (TVL), has unveiled a rewards portal that enables MNT holders to earn Ethena points, called Shards.

By locking MNT through the new Rewards Station, users can earn a share of 2.5 billion Ethena Shards from the Mantle treasury that will be distributed over the next month.

Mantle Rewards Station

Ethena is the issuer of USDe, a synthetic dollar token backed by Ethereum liquid staking tokens hedged with short futures positions on centralized exchanges. Since launching last month, the project has amassed over $1.3 billion in TVL, although concerns have been raised regarding the sustainability of its current 30% yield.