
Manta Network has shown significant growth in Q2, as detailed in the latest report from MessariCrypto. The network introduced several yield-boosting programs, including Renew Paradigm, Restaking Paradigm, and CeDeFi, which contributed to a 14.1% quarter-over-quarter increase in stablecoin market cap, reaching $14.7 million. The CeDeFi program allows users to gain exposure to centralized finance yields while remaining within the decentralized finance ecosystem. This development is part of the broader trend of increasing wallet interactions and transactions across Layer 2 ecosystems, which are becoming more scalable and profitable despite a decline in L2 token prices. The Q2 report also highlights the intensifying competition in the Layer 2 space, often referred to as 'L2 wars'.
One of crypto's key use cases is stablecoins, and whichever blockchain(s) host them will thrive in the long term Stablecoin market cap on L2s nears $10 billion and keeps growing For context, L2s combined are the 3rd biggest blockchain for stablecoin market cap https://t.co/1eU7o5MvGn
Layer 2 protocols are making blockchains more scalable. Let's look at the comparison ⤵️ https://t.co/hdKwsjRA8M
Here’s the truth about Ethereum L2s: The good: - # of users is up - Transactions are up - Fees are going to 0 for users - L2 chains remain profitable The bad: - L2 token prices are down bad (see chart) - There’s currently 61 L2s and another 79 on the way (too many for… https://t.co/xmgl4UEzn6