Mantle, the blockchain ecosystem behind Ethereum layer 2 (L2) Mantle Network and Ether liquid staking protocol mETH Protocol, announced the integration of Ethena’s USDe and Mantle’s mETH on Compound, one of the DeFi lending protocols.
This integration supports Mantle’s commitment to fostering synergy within its asset ecosystem while enabling wider DeFi adoption.
Discussions are underway to introduce and integrate cmETH, “deepening the strategic partnership between Mantle and Compound.”
Successful proposals with Compound Governance, which saw the onboarding of both USDe and mETH, underscore Mantle’s commitment to delivering partnerships that “prioritize safety and innovation in decentralized finance.”
Compound’s protocol and robust infrastructure, with its record for security and reliability, bolsters Mantle’s efforts to further its ecosystem and deliver reliable “solutions to the global DeFi community.”
The integration of USDe and mETH on Compound represents a key moment for the Mantle Ecosystem through “several tenets.”
USDe has seen growth in the past year, with its “strongest dominance on Mantle Network — boasting a TVL of US$ 92.3M.”
By integrating USDe into Compound, Mantle will solidify its role as a participant the decentralized stablecoins market.
With the inclusion of Mantle Staked Ether ($mETH) as a collateral asset on Compound, Mantle strengthens mETH’s “utility within DeFi and beyond.”
This integration aligns with Mantle’s vision of advancing liquid staking solutions for mass adoption “within and beyond the Mantle Ecosystem.”
The integration acts as a catalyst for Mantle’s DeFi dApps in order to collaborate — “setting the stage for a stronger network of financial tools and services.”
With the integration of cmETH, users on both Compound and Mantle will experience a robust “ecosystem while unlocking opportunities for innovation.”
The integration is a testament to Mantle and Compound’s shared vision of enabling “scalable, and accessible financial tools through elevated user experiences.”
As the Mantle Ecosystem grows, premier partnerships such as Compound’s solidify its reputation as “a hub for user-friendly DeFi innovation.”
Gabriel Foo, DeFi Growth Lead at Mantle said:
“Security and reliability are the foundation of trust in DeFi. Compound’s strong track record of upholding the highest standards of safety and dependability aligns with Mantle’s vision for building an ecosystem that prioritizes safety and innovation. The integration of Ethena’s USDe and Mantle’s mETH represents a significant milestone in advancing our ecosystem and is a clear reflection of our commitment to maintaining the integrity of the DeFi ecosystem.”
Mantle is building the sustainable hub for on-chain finance.
Through its core products — Mantle Network, mETH Protocol, and FBTC — Mantle is unlocking the future of finance by “blending institutional expertise with the transformative power of blockchain.”
Anchored by the Mantle Treasury, the community-owned treasury in the ecosystem, Mantle ensures “liquidity and financial stability.”
With $4.3 billion+ in assets, it funds core product development and fosters the growth of asset partners, such as Agora AUSD, Ethena USDe, Ondo USDY, and EigenLayer restaking, “enhancing sustainable yield, deep liquidity, and financial utility on the Mantle Network.”
Compound is a “decentralized” finance protocol that enables users to borrow, lend, and earn interest “on cryptocurrencies in a secure, transparent, and permissionless manner.”
As one of the protocols in the DeFi space, Compound offers lending and borrowing solutions built on “audited, secure smart contracts.”
Its infrastructure, backed by API3 Market Rate oracles and industry-leading safety standards, has made it “a cornerstone of the DeFi ecosystem.”
Compound’s approach allows users to integrate their assets into DeFi strategies, enhancing capital efficiency and unlocking “opportunities for financial growth.”
With a governance model and a “vibrant” community, Compound continues to push the boundaries of DeFi, empowering users to “access global liquidity while maintaining complete control over their funds.”