Mantle Network has made waves in the decentralized finance (DeFi) sector with its recent partnership with Compound III. This collaboration brings significant improvements to borrowing and lending on the Mantle platform, offering users new collateral choices and a secure environment to obtain them. With the inclusion of Compound III, users can now provide collateral through assets like FBTC, mETH, and wETH, while being exposed to Ethereum and Bitcoin.
The decision to partner with Compound III was driven by Mantle Network’s commitment to safety and integrity in the DeFi space. Mantle noted that Compound has a strong reputation for safety and security, making it a natural fit for their platform. By aligning with Compound’s principles, Mantle can ensure that users’ assets are protected, allowing them to engage in DeFi activities without any worries.
In order to drive adoption and increase user engagement, Mantle Network has put in place various incentives. These include deploying $10 million in supply-side Treasury liquidity for $USDe and offering $1 million in $MNT incentives to encourage user interaction and ecosystem expansion. These incentives not only enhance liquidity and efficiency but also attract investors, making Mantle Network a viable option for both new and experienced DeFi users.
Since integrating Compound III, the $USDe market on Mantle has shown strong performance, with a 91.34% utilization rate, an 8.35% Net Earn APR, a 9.88% Net Borrow APR, and over $71,000 in total collateral and $45,000 in total earnings. These impressive numbers indicate that users have a high level of trust in the Mantle-Compound ecosystem and are actively participating, signaling a bright future for the partnership.
Overall, the collaboration between Mantle Network and Compound III has created a stable and secure system for financial operations in the DeFi space. By offering rewards and prioritizing safety, this partnership is paving the way for further advancements in the industry and setting a standard for future collaborations. With their combined expertise and resources, Mantle Network and Compound III are shaping the future of decentralized finance and creating new opportunities for users to engage in the DeFi ecosystem.
