The Mantle network – Which DEX to use?

Have you heard about the Mantle network, a layer-two network just like Optimism and Arbitrum on the Ethereum network? It is quite brilliant, very fast, and much cheaper than using the actual Ethereum network.

The Mantle network launched its mainnet in 2023, making it a new network, and there aren’t a lot of users yet. But, it is growing rapidly, and it is a gigantic owner of Ethereum, meaning that lots of Ethereum has been merged to the Mantle network where you can stake it and store it for great rewards.

But, if you decide to use the Mantle network, where should you go to trade tokens? Which are the most interesting tokens available on the Mantle network?

the mantle network

The most interesting tokens on the Mantle network.

The most interesting tokens on the Mantle network are Ethereum, Bitcoin, and the native Mantle token. If you bridge Ethereum to Mantle, you will receive wETH, and if you bridge Bitcoin to Mantle, you will receive wBTC. But, there is something called mETH, which is a special Mantle Ethereum, in which you also receive automatic staking rewards, meaning the mETH value will grow compared to the price of ETH over time.

These are the three basic tokens, and it is, of course, much cheaper to trade Ethereum, Bitcoin, Mantle, and other tokens on the Mantle network compared to trading on Ethereum using decentralized exchanges such as Uniswap and SushiSwap.

But, are there any interesting protocols and tokens on Mantle besides the big three?

You need to look through the register of protocols, and as you find someone interesting, you might want to consider buying that. If I were to share information about a few of them, I would suggest looking into the following.

  • Lendle: The Lendle token (LEND) is a protocol of Lendle similar to Nexo, meaning that you can lend and borrow tokens, and you can earn rewards for holding tokens on the platform.
  • Merchant Moe: The Merchant Moe token (MOE) is the native token of this popular decentralized exchange on Mantle. It is created by the people who created TraderJoe on Avalanche (which now also exists on Binance Smart Chain and Arbitrum), giving it credibility. Just like TraderJoe is the number one DEX on Avalanche, this is expected to be the number one DEX on Mantle (it almost is already after one month). With the MOE token, you can earn fees gathered by the platform upon trading, and you can also vote for which liquidity pool will receive higher rewards (and earn bribes in the process).
  • Mantle Inu: This is the meme token of Mantle (MINU), meaning it doesn’t really have much purpose, but if the network suddenly decides to boost this and people get crazy about it, then who knows… maybe it will moon like many other meme coins have done before it?

Which DEX to use on Mantle?

There are several decentralized exchanges on Mantle, but to me, the question is really easy to answer… Merchant Moe is the place to go. It has a brilliant design, it is very easy to use, it has good customer support and a vibrant Discord channel, and the number of trading pairs are growing rapidly. If a new and important token is added to Mantle, it will quickly get to Merchant Moe.

Would you like to use some other DEX instead?

You could look into, Fusion Finance, iZiSwap, and Agni Finance. All these are well worth looking into, but based on what I have seen on Avalanche, I do believe Merchant Moe will grow into the biggest and most used DEX on Mantle within a short amount of time.

Leave a Reply