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The DeFi Den Weekly Ride #007

Exploring Mantle's DeFi ecosystem, Vega Protocol Alpha Mainnet and RWA's latest updates

GM! We polled on the ARC app and majority of you wanted to explore the Mantle DeFi ecosystem. With that, as of this week, we will cover 1 DeFi protocol with mantle's chain integrated. Besides that, we will continue our read up into the latest DEX that launched their alpha mainnet and also the many happenings in the RWA space.


Mantle DeFi Ecosystem: iZUMi Finance

We will be exploring protocols on Mantle starting from the protocol with the most TVL which currently is iziSwap by iZUMi Finance with $11M in TVL, number 2 on DeFiLlama. We will cover Agni Finance, Mantle's top defi protocol when they release more documentation.

Mantle's DeFi Llama:

iZUMi is a multi-chain protocol that offers a comprehensive Liquidity-as-a-Service (LaaS) solution and is operational on 12 chains, including Ethereum, BNB Chain, zkSync Era, Linea, and Mantle.

Reflecting the long-lasting on-chain liquidity akin to an ever-flowing spring, iZUMi, Japanese for "spring water", delivers three vital on-chain liquidity products:

  1. LiquidBox: This Programmable LaaS product addresses the 'pool 2 dilemmas' by offering structured-incentive and auto-rebased modules, thereby augmenting incentive efficiency. It has already collaborated with eight projects, including Dehorizon, WOO, and Bitdao.

  2. iZiSwap: Introducing a unique Discretized-Liquidity-AMM (DL-AMM) model, iZiSwap brings a CEX-like trading experience to DEX users by supporting discrete liquidity on every price tick. This groundbreaking DLAMM mechanism allows iZiSwap to offer an impressive 5000x more capital efficiency than traditional x*y=k DEX.

  3. iZUMi Bond and iZUMi Bond USD (iUSD): iZUMi Bond and iZUMi Bond USD (iUSD) supports Bond Farming for robust, high-yield on-chain investments, also enabling investors to convert these bonds into iZi tokens. This innovative approach merges the benefits of fixed income with potential token appreciation.

iZUMi's iZiSwap has been performing exceptionally well on the Mantle Network, reaching a total value locked (TVL) of $2 million before the launch of Agni Finance. The daily volume has been steadily growing, hitting a high of $730K. Liquidity provider (LP) pools are mainly focused between USDT, WETH, and WMNT, although the amount of WMNT has been declining significantly. As more competitors such as Agni Finance enter the Mantle ecosystem, a further decrease in daily volume and pool size of WMNT is expected.

In conclusion, iZUMi Finance's partnership with Mantle Network is a strategic move that could enhance its DeFi offerings. Mantle's Modular Data Availability could bolster iZUMi's data security, while its Multi-Party Computation could enhance privacy in token swaps. However, iZUMi must continue to innovate amidst growing competition within the Mantle Network ecosystem.

The DeFi Den Weekly Ride #007 was brought to you by YPSONO and 0xIkeda

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