Manta Network's CeDeFi Product Achieves Promising Results, TVL Reaches US$10 Million in 12 Hours

Bittime - The launch of the CeDeFi ( Centralized Decentralized Finance ) product by Manta Network shows promising results. The total value locked ( TVL ) of their CeDeFi product surpassed US$10 million within just 12 hours of launch.

Bringing Institutional Strategy to the Blockchain Realm

Manta Network's CeDeFi product aims to bridge the gap between traditional CeFi (Centralized Finance) strategies and the transparency and security of DeFi (Decentralized Finance). The product allows users to utilize “VIP income strategies” typically used by asset management institutions, but directly on the blockchain.

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CeDeFi Manta Network: Diversified Income Opportunities

Source @MantaNetwork/X

Users can store their BTC, ETH, and stablecoin (USDT & USDC) holdings via a variety of networks, including the Ethereum mainnet, BNB chain, and Manta Pacific. This participation unlocks earning potential through two different channels:

• Institutional CeFi Income: Get a share of the returns generated by this asset management strategy. The current APY ( Annual Percentage Yield ) for BTC and ETH is at 5.6%, while USDT and USDC offer a higher APY of 17.5%.
• Funding Rate Arbitrage Income: Profit from the potential difference between loan and borrowing interest rates in CeDeFi products.

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Additional Prizes via MANTA Tokens

Manta Network incentivizes early participation by offering MANTA token rewards based on accumulated points. However, there are limitations to this rewards program – only the first US$500 million TVL is eligible. 

Additionally, users can multiply their points by maintaining their participation for a period exceeding 30 or 60 days.

Promising Start for CeDeFi Manta Network

The rapid surge in TVL indicates a strong initial response to Manta Network's CeDeFi product. The combination of familiar CeFi income strategies with the technological advantages of DeFi seems to be resonating with users. 

As the product matures and collects more data, it will be interesting to see how the TVL and user base evolve.

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How to Buy Manta Network (MANTA) on Bittime

You can buy and sell  Manta Network (MANTA)  in an easy and safe way via  Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Manta Network (MANTA)  is available on Bittime with  the market pair MANTA/IDR . To be able to buy  MANTA IDR  at  Bittime,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  the complete guide on how to buy Manta Network (MANTA) on Bittime . 

Monitor the  price chart movements of Manta Network (MANTA) ,  Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Manta Network Launches CeDeFi Product, Benefits Institutional VIP Strategy on Blockchain

BounceBit Roadmap 2024: Building a Robust CeDeFi Ecosystem

Save the Date! Busy Week for Crypto with Potential Bitcoin Rally

DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.