Ignas | DeFi pfp
Ignas | DeFi

@ignas

The only token to break of L2 token curse is $MNT. It trades at 2x the FDV of Arbitrum despite Arbitrum having higher TVL, more users and more maturity. L2Beat doesn't even list Mantle under rollups because of a lacking DA bridge. $260m TVL for Mantle vs $3.5B for Arbitrum shows that TVL or technical maturity for L2 tokens means little now. Market treats MNT like BNB, not a normal L2 thanks to Bybit integration, $4B treasury, CEX token features, a neobank, etc. Most importantly, Mantle runs buybacks & burns from treasury profits. That gives a scarcity story that other L2 tokens don’t have. So MNT breaking out of the cursed L2 governance token story is bullish for Base. Since Coinbase > Bybit, BASE can easily launch at 2x Mantle FDV on day one. The move is simple: Install Farcaster and Base app to post consistently. "Create and you will be rewarded." - @jesse.base.eth
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