DefiLlama Now Tracks Mantra Protocol on Shibarium: A DeFi Milestone

June 4, 2024

DefiLlama, the leading DeFi analytics platform, has expanded its coverage to include Mantra, an NFT marketplace and lending protocol on the Shibarium network. The move underscores the growing importance of interoperability and liquidity solutions within the NFT space.

DefiLlama has emerged as a go-to resource for tracking the total value locked (TVL) across various decentralized finance (DeFi) protocols. Its user-friendly interface provides real-time data on TVL, lending platforms, yield farms, and liquidity pools. It offers users a comprehensive view of the DeFi landscape by aggregating information from multiple platforms, 

“Being listed in Defillama brings to the ground the fact that Mantra contributes TVL to the chains we’re at. That sole thing makes us really happy and being able to see how that contribution grows over time is gonna be amazing, Mortin, the pseudonymous founder of Mantra told The Shib Daily.

At the same time, Mantra Protocol is a multichain NFT marketplace that operates on Shibarium, which is the layer 2 solution for Shiba Inu. On March 26, 2024, Mantra Protocol introduced an exciting event called the “Easter Egg Event,” during which it offered several NFTs at discounted prices.

As a versatile platform, Mantra Protocol supports multiple blockchains, making it accessible to a wide range of users. It has gained prominence as one of the largest NFT marketplaces on Shibarium.

“Defillama also brings exposure for Mantra, even more because we’re in a very norrow category which is NFT Lending and NFTFi, which makes it easier to discover us and also opens exposure for Shibarium overall via a new search dimension. Mantra is the ONLY NFT related product in Defillama for Shibarium, said Mortin.

Through DefiLama, Mantra can gain exposure to a broader audience as investors and traders can now track its TVL and liquidity across different chains, fostering confidence and attracting new participants. Moreover, DefiLlama’s tracking capabilities can enhance Mantra’s liquidity. As more users discover and engage with its NFT marketplace, liquidity pools will grow.

“Let’s gooooooo !! We wanted to be in #DefiLlama for so long and once we applied, it only took a few hours to be on the platform. Kudos to your team! Thank you so much for tracking our protocol’s TVL now. We’re happy to be in the people’s favorite #blockchain stats tool,” Mantra Protocol wrote on X (formerly Twitter).

The integration points to the importance of cross-chain collaboration. Mantra’s presence on DefiLlama bridges gaps between various blockchain ecosystems, promoting interoperability and expanding DeFi’s reach.

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