In the first half of 2023, the team at Francium Protocol has been sourcing for the best EVM-compatible chain to deploy on and extend our service beyond the Solana ecosystem. Ever since the collapse of FTX, Solana DeFi projects never had it easier. As DeFi protocols extend externally to find new liquidity, the Francium team did not sit still either — with US$15M TVL entrusted within our protocol by our loyal users, we were determined to find the next best ecosystem to leverage on. (no pun intended!)
As we scoured through the different Layer-2 networks that sprouted out in Q1’2023, we had to make sure we were taking the best pick for our loyal userbase. Mantle Network then managed to capture our attention with their generous grant programme, but this collaboration grew into something much more than that. More importantly, Mantle Network made it easy for us to decide with their unparalleled technology — with Mantle Network, we are extremely confident in building Francium V3 to perform at a hyperscale level, much better than before.
In this blog post today, we will delve into the three key factors that have made us choose Mantle Network as our first Ethereum rollup network to deploy on.
New Ability Unlocked! ⭐️ Hyperscale Performance ⭐️
At its core, Mantle has been built with a modular architecture that uses an optimistic rollup with an innovative data availability solution. This allows Mantle to inherit security from Ethereum AND offer cheaper and more accessible data availability.
By building on top of Mantle, we are working with an L2 solution that has:
- Modular Data Availability — Mantle taps on EigenLayer to increase transaction throughputs beyond traditional L2 solutions without compromising on security
- Multi-Party Computation (MPC) — Mantle shortens challenge period of withdrawals with multi-party signatures that improve correctness of off-chain transaction results
- Decentralized Sequencer — Mantle reduces single point of failure and censorship by rotating through a permissionless sequencer set
Too technical? TL;DR — with Mantle as our L2 at the core, we are building a DeFi protocol that can handle vast transactions faster than before, while inheriting Ethereum’s unrivalled security (and this time, the network won’t shut down on us… cough 🤡). The bonus here? The modular architecture will allow us to bring you the best UX you can ask for.
The One Ecosystem to Rule Them All 💍
The Mantle ecosystem is also something that our team has found very commendable.
From the Mantle Treasury to the network of $MNT-powered products, we are looking at a strong ecosystem that has valuable resources to offer to Francium Protocol from the get-go. Ever since our collaboration, our development and adoption are largely accelerated.
With Mantle Network being developed in partnership with BitDAO (now merged with the Mantle ecosytem), Bybit, and other organizations to meet the needs of the growing $MNT (previously $BIT) ecosystem, building alongside Mantle has definitely opened doors to extensive network and partnerships.
(Shout-out to the core team at Mantle! You guys have been nothing but the best!)
Stay tuned as we deploy our testnet shortly within the next two weeks (and mainnet in Q3).
I’m In It For the Tech 💰, Really
Last but not least, we definitely have to give credits to the generous grant programs that Mantle has for promising startups.
We are talking about grants that go up to US$100k in value — it’s been awhile since we have seen such generosity.
These grants come with reasonable milestones that ensure a win-win arrangement for both Mantle and their grantees. As long as you are able to create utility clearly for your users and values for the Mantle community, your idea will be appreciated by the grant team.
Currently, there are 3 different programs that builders can look out for.
For live projects with a community (this is where Francium stands) — you can look out for Program I where grant goes up to $100k in value.
For early projects at the ideation stage, fret not, as you still can apply for Program II where there are $5-$25k of grants devoted to your deployment.
And eventually, when you are focusing on user activity after deployment on the Mantle Mainnet, you can apply for Program III to access up to $25k of grants for your user-side adoption.
Building on Mantle has been a enjoyable process so far. As builders, we felt empowered to create a robust and scalable DeFi protocol for the ecosystem. From high performance and security to interoperability and access to a thriving ecosystem, Mantle has provided a solid foundation for us to innovate on. It was almost a no-brainer for us when we came across the Mantle team back then — conversation with the team has been smooth since day 1 and they have always been very supportive of our initiatives at Francium.
If you are considering which Layer-2 network to build your next idea on, take advantage of the opportunities offered by Mantle Network and join the movement towards a hyperscale future with Mantle Network today.
Apply here: https://www.mantle.xyz/grants