Jakarta, Pintu News – Mantle Network (MNT), a financial ecosystem that connects traditional finance with decentralized finance, recently announced a strategic partnership with LayerZero (ZRO).
This integration aims to bring MNT native tokens into omnichain, starting with integration through HyperEVM. This will hopefully eliminate fragmentation and liquidity silos, and ensure unified access with true interoperability and composability.
Check out the full information below!
Mantle Network utilizes their native bridge in this integration, using LayerZero’s Omnichain Fungible Token standard which allows MNT tokens to be ‘teleported’ from Ethereum (ETH) to other chains. This opens up opportunities for MNT to operate across blockchains more efficiently.
By adopting this technology, Mantle hopes to address challenges that exist in the current decentralized finance ecosystem, such as scalability issues and market fragmentation.
In the initial phase, support will be provided to HyperEVM, a blockchain platform within the Hyperliquid ecosystem that supports general programming. HyperEVM integrates the Ethereum Virtual Machine, which enables the development of Ethereum-compatible smart contracts. Mantle’s plan is to extend this support to other chains supported by LayerZero, increasing the flexibility and reach of MNT tokens.
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In addition to the integration with LayerZero, Mantle Network has also collaborated with Para to launch Mantle Passport. This is a distributed, multi-party computing wallet designed to remove the complexity of web3 access for ordinary users.
Mantle Passport offers a universal, standalone wallet for decentralized applications across the Mantle ecosystem, cementing their position as an innovation leader in decentralized finance. This partnership not only strengthens Mantle’s infrastructure but also extends the functionality and usability of the MNT token.
With this new interoperable strategy, Mantle not only improves user experience but also expands the reach, utility, and liquidity of MNT tokens as a valuable asset across multiple ecosystems.
Read also: DeFi Dev Corp Buys Solana $77 Million, What Impact on the Market?
Following the integration announcement, the price of the MNT token experienced a surge, peaking at $1.38. This price increase was also influenced by the market’s reaction to the news that the US Department of Commerce will publish macroeconomic data on the blockchain.
Economic data from the Bureau of Economic Analysis, including real Gross Domestic Product (GDP), will be published on several blockchains including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
This announcement demonstrates the increasing trust and adoption of blockchain within the public sector, which could have a further positive impact on the value and adoption of MNT. With an effective omnichain strategy and strategic collaborations, Mantle Network is expected to continue to grow and strengthen its position in the decentralized finance market.
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