Mantle and IntentX Announce Strategic Alliance to Elevate Decentralized Trading on the Mantle Ecosystem

Mantle, a burgeoning DAO-led web3 ecosystem built around Ethereum layer 2 (L2) Mantle Network and Ether liquid staking protocol Mantle LSP, has announced a strategic partnership with IntentX, a next-generation OTC derivatives decentralized exchange (DEX). IntentX will serve as the native flagship perpetual futures exchange for Mantle Network and its community, providing over 261+ trading pairs with deep liquidity and a unique revenue distribution model that allocates 85% of platform revenue back to $INTX stakers. Additionally, IntentX has received seed investment from Mantle EcoFund, which will facilitate liquidity support and foster deeper ecosystem integration.

Mantle and IntentX Forge Strategic Alliance to Enhance Decentralized Trading on Mantle Ecosystem

May 12, 2024 - Mantle, a burgeoning DAO-led web3 ecosystem centered around Mantle Network (an Ethereum Layer 2 solution) and Mantle LSP (an Ether liquid staking protocol), today proudly announces its strategic partnership with IntentX, a cutting-edge OTC derivatives decentralized exchange (DEX).

Tailored to serve Mantle Network and its community as a native flagship perpetual futures exchange, IntentX boasts over 261 trading pairs, providing substantial liquidity on a non-KYC, permissionless platform. With an unprecedented 85% of platform revenue allocated to $INTX stakers, IntentX revolutionizes the decentralized finance (DeFi) landscape by introducing intent-based perpetual products, previously inaccessible on-chain, coupled with one-click trading accessible through conventional web2 login methods.

IntentX's pioneering role extends beyond its platform offerings, having secured seed investment from Mantle EcoFund, facilitating liquidity support in alignment with MIP-28, fostering pivotal growth and ecosystem integration within the broader Mantle ecosystem. IntentX will collaborate closely with other Mantle EcoFund recipients, bolstering token liquidity and promoting wider integration within the ecosystem.

IntentX Mantle Grant and Incentives

In addition to the seed investment from Mantle EcoFund, IntentX has received a generous $250,000 $MNT grant, designed to incentivize traders and users. This grant, the most substantial to date from the Mantle Foundation, offers two distinct avenues for users to earn rewards.

Firstly, the Mantle Blitz Minigame, an engaging platform where users predict Bitcoin (BTC) price movements within a 10-second timeframe, presents an opportunity to earn up to $15 $MNT per attempt, with attempts earned through trading activity.

The primary component of the grant is allocated as a $MNT fee rebate, enhancing trading efficiency. Traders are entitled to reimbursement for 50% of platform fees incurred, significantly reducing operational costs.

Bountiful Yield Opportunities with $INTX on Mantle

$INTX, the native token of IntentX, will also be deployed on Mantle, in accordance with IntentX's vision of fostering a robust ecosystem. This strategic move aims to enhance liquidity, foster community engagement, and facilitate deeper integration into the Mantle ecosystem.

As part of IntentX's collaboration with Ethena Labs, Mantle users will gain access to a comprehensive range of 261+ $USDe perpetual pairs, enabling depositors to accumulate up to a $10 million cap of 20x Sats per $USDe. IntentX will further integrate $USDe with future Mantle stablecoin projects, augmenting its trading offerings.

$xINTX Staking and Revenue Distribution

$xINTX, the staked form of $INTX, serves as the backbone of the project's utility and value capture mechanism. By staking $xINTX, users enjoy increased revenue over time, bolstered by a dynamic exit fee structure that enhances value for long-term stakers. With an impressive 85% of IntentX's revenue distributed to $INTX stakers, IntentX demonstrates its unwavering commitment to prioritizing value capture and ensuring sustainability for its long-term community.

Coinciding with the $INTX token launch, Mantle and IntentX will unveil an exclusive airdrop event for their dedicated users and early supporters, rewarding their loyalty and contributions.

One-Click Trading Enabled by Account Abstraction

IntentX is diligently developing a bespoke account abstraction solution, inclusive of gas management, empowering Mantle users to enjoy seamless one-click trading through conventional web2 login methods. IntentX's sophisticated intent-based architecture empowers traders to express their trading intentions, which are subsequently executed by external solvers and swiftly plugged into centralized exchange (CEX) liquidity, ensuring competitive quotes and minimal slippage.

This unique model unlocks competitive offerings in the perpetual futures market, enabling users to access highly liquid, efficient, and scalable on-chain trading. IntentX aims to bridge the gap between decentralized trading and CEX liquidity, fostering unprecedented growth within the on-chain derivatives market.

Unique Trade-to-Earn Incentives Program

To incentivize sustained liquidity on-chain, IntentX traders will be eligible to earn daily $xINTX rewards through its innovative Trade-to-Earn program, with further developments to be unveiled in the near future.

Exciting Token Generation Opportunities

IntentX will announce its special token generation event (TGE) following the deployment of its trading platform on Mantle Network. Elaborate details will be disclosed in due course, presenting an exceptional opportunity for all Mantle users to participate in IntentX's growth trajectory.

Strengthening the Mantle Ecosystem with a Robust Liquidity Hub

Recognizing the pivotal role of liquidity in ecosystem development, IntentX's innovative platform bolsters Mantle Network's appeal to traders and liquidity providers, distinguished by unique features and a tailored identity that aims to unleash the boundless potential of DeFi on Mantle.

Levy, the esteemed Founder of IntentX, expressed his enthusiasm: "This collaboration with Mantle presents an unparalleled opportunity for IntentX to not only flourish alongside a leading DeFi ecosystem, but to actively contribute to the innovation and expansion of decentralized finance. We are thrilled to introduce our expertise in perpetual futures trading to Mantle Network, collaborating closely with their team and partners to drive adoption, cultivate community, and propel the entire ecosystem forward."

Echoing this sentiment, Edmund, DeFi Strategist at Mantle, remarked: "We are delighted to welcome IntentX into our vibrant ecosystem of partners, enriching the diversity of our trading offerings. As an exceptional next-generation perpetual futures DEX, IntentX's groundbreaking intent-based technology will significantly enhance sustainable revenue generation for users and exponentially expand Mantle's user base. This strategic alliance represents a significant step towards our vision of making DeFi seamless and accessible for users across the expansive web3 ecosystem."

For real-time updates on IntentX's token generation event, airdrops, and incentives, follow Mantle and IntentX's official social media channels.

About IntentX

IntentX is a next-generation OTC derivatives exchange that specializes in perpetual futures trading. At the core of IntentX lies a synergistic blend of technological advancements that herald the next era of on-chain finance. The platform harnesses cutting-edge technologies, such as LayerZero (a cross-chain communication protocol), account abstraction, and SYMMIO (a revolutionary intent-based architecture), addressing critical challenges in delivering seamless on-chain derivatives.

These combined technologies empower IntentX to offer omnichain deployment, reduced fees, enhanced liquidity, amplified capital efficiency, and improved scalability compared to existing solutions. IntentX currently offers over 261 tradable markets with leverage of up to 60x.

About Mantle

The Mantle Ecosystem encompasses an Ethereum Layer 2 (L2) - Mantle Network, a decentralized autonomous organization (DAO) - Mantle Governance, one of the most substantial on-chain treasuries - Mantle Treasury, and an Ether (ETH) liquid staking protocol - Mantle LSP: all meticulously built on the Ethereum blockchain. Mantle's native token, $MNT, serves as both the utility and governance token for the ecosystem.

Mantle's inaugural core product is Mantle Network, an Ethereum L2 solution. Mantle Network prioritizes compatibility with the Ethereum Virtual Machine (EVM). It utilizes a modular architecture that segregates transaction execution, data availability, and transaction finality into distinct modules, allowing for individual upgrades and the integration of cutting-edge innovations. Mantle Network pioneered a partnership with ETH restaking protocol EigenLayer for its data availability module, securing its foundation on the Ethereum blockchain through a rollup architecture. As the first L2 to emerge from a DAO, Mantle Network spearheads a vision for the widespread adoption of token-governed technologies.

The current mainnet version, Mantle Network Mainnet v2 Tectonic (Mantle v2 Tectonic), commenced operations on March 15, 2024. $MNT fuels Mantle Network as its native gas and ecosystem growth token, also fulfilling the role of governance token for Mantle Governance.

Mantle's second primary product is Mantle LSP, a non-custodial and permissionless ETH liquid staking protocol deployed on Ethereum L1 and governed by Mantle. Mantle LSP unifies simplicity and modern design with robust risk management. It leverages the extensive resources of the Mantle Ecosystem to deliver exceptional rewards and elevates Mantle's status as a yield powerhouse. Mantle Staked Ether ($mETH) serves as the value-accumulating receipt token of Mantle LSP.

In its commitment to empowering the next generation of innovators and developers, Mantle fosters its ecosystem through the Mantle Grants Program and Mantle