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Mantle Network’s MNT is on track to outperform all other major 
Ethereum rollup tokens this month! What catalyzed a massive MNT pump this week, and can you capitalize on the opportunity?
While MNT lagged behind the competition throughout much of March, the token began strengthening relative to the broader rollup sector on Tuesday before eventually ripping by nearly 60% to establish a new all-time high and become this month’s top gainer!
From a tokenomics perspective, MNT received a major upgrade this week, with Mantle’s deployment of the “Rewards Station” transforming it into a productive asset that can be staked to earn yield.
Users who lock MNT through the program receive a pro-rata claim to the 2.5B Ethena Shards generated by the Mantle treasury’s holdings, and the platform can be adapted to distribute additional monetary rewards earned from Mantle’s treasury back to holders in the future!
RT if you're locked up 🤪 pic.twitter.com/R3zf5zrFK4
— Mantle (@0xMantle) March 26, 2024
Unfortunately, for those hopeful that the surge was due to an upgrade in MNT’s fundamentals, the deployment of the Rewards Station appears to have been merely coincidental with the token’s greatest price catalyst, its listing to Korean exchange Upbit at 18:00 KST on Wednesday.
MNT rallied hard in the hours preceding the listing before topping out shortly afterward and has sharply underperformed the broader rollup sector since, indicating that Mantle’s dislocation from the broader market was largely due to this one-time development.
Upbit will list Mantle MNT’s KRW, BTC and USDT trading pairs, and Pocket Network POKT’s BTC and USDT trading pairs on March 27. MNT only supports Ethereum network deposits; POKT only supports Pocket network deposits. https://t.co/f8YJkah8kr
— Wu Blockchain (@WuBlockchain) March 27, 2024
While the demonstrated lack of sustainability behind MNT’s stretch of outperformance makes the token a questionable buy at this moment in comparison to L2 alternatives, existing holders who got in prior to the Upbit-induced pump may be well-served by staking to the Mantle Rewards Station!
By passing through the yield generated by its treasury holdings back to holders, Mantle Network showcases the substantial treasury that sets it apart from other L2 solutions and provides evidence that Mantle is committed to leveraging these funds for the benefit of the ecosystem.
$MNT has been the best performing L2 token so far this year.
— Aylo (@alpha_pls) March 27, 2024
• mETH has become the fourth biggest LST (~2B in TVL) - @0xMantle are the only L2 to have built their own liquid staking protocol
• Very good yield opportunities on the chain
• Native apps like @InitCapital_ gaining… pic.twitter.com/ReYaAC7nAH
