Hey there, crypto enthusiasts! If you’ve been keeping an eye on the decentralized finance (DeFi) space, you’ve probably noticed some exciting movements on the Mantle Network, a rising star among Layer 2 blockchains. A recent tweet from Castle Labs caught our attention, highlighting how Mantle’s DeFi ecosystem is thriving, with seven of the top 10 protocols seeing their Total Value Locked (TVL) jump by at least 10% over the past 30 days. With an aggregate TVL of $234 million, the big question is: Is Mantle DeFi still undervalued? Let’s break it down!

What’s Driving Mantle DeFi’s Growth?

Mantle is making waves as a Layer 2 solution built to enhance Ethereum’s scalability while keeping costs low. The network’s DeFi ecosystem is buzzing, and the numbers back it up. The tweet showcases a leaderboard of the top 10 protocols, including names like Treehouse Protocol ($102.41M TVL) and Merchant Moe ($92.99M TVL). What’s impressive is the month-over-month (1m) change—many of these protocols are seeing double-digit growth, with Lendle leading the pack at +32.58%.

This growth isn’t just a fluke. Mantle’s design focuses on being a “Liquidity Chain,” meaning it’s all about making sure capital moves efficiently across the blockchain. With features like zero-knowledge proofs and a hefty Ethereum-backed treasury, it’s attracting developers and investors alike. Plus, the recent launch of a neobank and a $400M tokenized fund (as mentioned in a related tweet from Stacy Muur) is fueling adoption.

Is $234M TVL Enough?

So, with a TVL of $234 million, is Mantle DeFi undervalued? To answer this, let’s put it in context. The overall DeFi TVL across all networks is massive, but Layer 2 solutions like Mantle are still carving out their niche. A TVL of $234M is solid for a Layer 2, especially when you consider that it’s growing steadily. The fact that seven of the top 10 protocols are seeing such strong gains suggests there’s real momentum here.

However, undervaluation depends on what you compare it to. Bigger players like Arbitrum or Optimism have higher TVLs, but Mantle’s unique selling points—its ETH reserves and partnerships (like with Eigenlayer)—could mean it’s poised for a breakout. If the neobank beta ending on August 8 (as noted in the Stacy Muur thread) brings in more users, we might see that TVL climb even higher.

The Top Protocols to Watch

Let’s take a quick look at some standout protocols from the chart:

• Treehouse Protocol: With $102.41M TVL, it’s the leader in the Decentralized Oracle (DOR) category, though it saw a slight 7-day dip (-4.85%).
• Merchant Moe: A decentralized exchange (DEX) with $92.99M TVL, showing steady 1-month growth (+10.67%).
• Lendle: This lending protocol boasts a +32.58% increase over the past month, signaling strong demand for borrowing and lending on Mantle.

These protocols highlight the diversity of Mantle’s DeFi offerings, from oracles to DEXs and lending platforms. The mix of categories (DOR, DEXs, RWA, etc.) shows that Mantle isn’t just a one-trick pony—it’s building a robust ecosystem.

Why It Matters for Blockchain Practitioners

If you’re a blockchain developer or investor, Mantle’s rise is worth watching. The network’s focus on capital efficiency and its growing TVL could make it a hotspot for new projects. Plus, with 7 of the top 10 protocols growing by double digits, there’s a chance to get in early on the next big thing. The question of undervaluation also opens the door to strategic investments—could Mantle be the sleeper hit of 2025?

What’s Next for Mantle DeFi?

The data from Castle Labs’ tweet suggests Mantle DeFi has room to grow. The upcoming neobank beta launch could be a game-changer, driving more capital into the ecosystem. Keep an eye on the TVL trends over the next few weeks—especially post-August 8—to see if the momentum holds. If it does, that $234M could be just the beginning.

What do you think? Is Mantle DeFi undervalued, or is this just the start of something bigger? Drop your thoughts in the comments, and stay tuned to Meme Insider for more updates on the wild world of blockchain and meme tokens!