Mantle, the Ethereum Layer 2 network that boasts crypto\u2019s largest liquid treasury<\/a> and nearly $900 million in total value locked (TVL), has unveiled a rewards portal that enables MNT holders to earn Ethena points, called Shards.<\/p>\n By locking MNT through the new Rewards Station<\/a>, users can earn a share of 2.5 billion Ethena Shards from the Mantle treasury that will be distributed over the next month.<\/p>\n Ethena<\/a> is the issuer of USDe, a synthetic dollar token backed by Ethereum liquid staking tokens hedged with short futures positions on centralized exchanges. Since launching last month, the project has amassed over $1.3 billion in TVL, although concerns have been raised regarding the sustainability of its current 30% yield.<\/p>\n <\/p>\n Separately, the network\u2019s native MNT token briefly surged more than 50% earlier today after Korean crypto exchange Upbit listed<\/a> the token. MNT now ranks 33rd on Coingecko with a market capitalization of $4.2 billion.<\/p>\n <\/p>\n <\/a><\/p>\n In Ethena\u2019s points system, users can earn so-called Shards<\/a> by providing liquidity for the protocol\u2019s synthetic dollar, USDe, on various DeFi protocols like Curve, Pendle and Gearbox. These Shards will convert into allocations of Ethena\u2019s ENA token at a future date and are in high demand from DeFi investors, as can be seen by the robust activity on points marketplace Whales Market<\/a>.<\/p>\nUpbit Listing<\/h2>\n
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Ethena\u2019s Points System<\/h2>\n
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