DeFi
DefiLlama expands to include Mantra and boosts new potential of 3 million users
In a significant way move which highlights the growing importance of interoperability and liquidity solutions in the NFT space, DefiLlama, the leading DeFi analytics platform, has expanded its coverage to include Mantra, an NFT marketplace and lending protocol on the Shibarium network. This expansion marks another step in DefiLlama’s commitment to providing comprehensive, real-time data for the decentralized finance (DeFi) landscape.
DefiLlama has established itself as a go-to resource for tracking total value locked (TVL) across various DeFi protocols. The platform’s user-friendly interface offers real-time information on TVL, lending platforms, yield farms and liquidity pools, making it an indispensable tool for investors and traders. By aggregating information from multiple platforms, DefiLlama provides a holistic view of the DeFi ecosystem.
Mantra Protocol, on the other hand, is a versatile multi-chain NFT marketplace running on Shibarium, a layer 2 solution for Shiba Inu. Known for its accessibility and support for multiple blockchains, Mantra Protocol has become one of the largest NFT marketplaces on Shibarium. The platform recently held an “Easter Egg Event” on March 26, 2024, offering several NFTs at discounted prices, boosting its popularity among users.
DefiLlama increases visibility and audience reach of Mantra
The inclusion of Mantra on DefiLlama allows the NFT market to expose itself to a wider audience. Investors and traders can now track Mantra’s TVL and liquidity across different channels, building trust and attracting new participants. This visibility is crucial to improving liquidity, as more users discovering and engaging with Mantra’s offerings will contribute to the growth of its liquidity pools.
Expressing their enthusiasm, Mantra Protocol wrote on X (formerly Twitter),
“Let’s go!! We wanted to be in #DefiLlama for so long and once we applied, it only took a few hours to be on the platform. Congratulations to your team! Thank you very much for following the TVL of our protocol now. We are happy to be part of people’s favorite #blockchain statistics tool.
The integration of Mantra into DefiLlama highlights the importance of cross-chain collaboration. By bridging the gaps between different blockchain ecosystems, this development promotes interoperability and extends the reach of DeFi solutions. As the NFT space continues to evolve, such collaborations are essential to drive innovation and ensure the smooth flow of liquidity between platforms.