Launching PT mETH on Nitron: Demex's Omnichain Money Market

We are excited to announce the launch of PT mETH on Nitron, Demex’s cross-chain money market, as part of our upcoming mega partnership with Mantle. This collaboration marks a significant step for Demex, positioning us as a trading DEX and DeFi hub within the Mantle ecosystem. As we look ahead, we are eager to unveil even more assets, trading pairs, and Mantle-focused competitions.

What is Mantle?

Mantle is a groundbreaking layer-2 scaling solution designed to enhance the Ethereum ecosystem. With a focus on speed and efficiency, Mantle supports a myriad of decentralized applications and protocols.

Recently, Mantle has awarded Demex an ecosystem grant, solidifying our partnership and allowing us to integrate seamlessly into the Mantle Network. This partnership positions Demex as a key player within the Mantle ecosystem, enabling us to offer enhanced trading capabilities and liquidity for our users.

What is mETH?

mETH (Mantle Staked Ether) is a permissionless and non-custodial ETH liquid staking protocol deployed on Ethereum L1 and governed by Mantle. Users can stake ETH to receive mETH, which serves as a value-accumulating ERC-20 receipt token that is easily adoptable by various DeFi dApps, including Demex.

Key Features of mETH

• Highly Rewarding Experience: mETH aims to be the most widely adopted and capital-efficient ETH staking token, with a focus on Mantle L2 DeFi applications.
• Simple Architecture: Built following the Ethereum Shanghai Upgrade, mETH maintains a straightforward ETH to mETH conversion process, eliminating unnecessary complexities.
• Robust Risk Management: Core smart contracts enforce sanity bounds and risk limits, ensuring that staked assets remain secure within defined protocols.

What is Pendle Finance?

Pendle Finance is a pioneering decentralized protocol that focuses on yield tokenization and yield trading. The platform allows users to trade yield and earn fixed returns on their assets. With a remarkable total value locked (TVL) of approximately $4 billion, Pendle Finance empowers DeFi enthusiasts to navigate the dynamic world of yield generation.

How Pendle Works

Pendle separates yield-bearing tokens into two distinct components: Principal Token (PT) and Yield Token (YT). This innovative approach enhances liquidity and allows users to implement advanced yield strategies. By depositing any supported yield-generating asset, users can mint PT and YT.

• Principal Tokens (PT): These can be bought at a discount to their backing collateral, allowing users to lock in yield. Upon maturity, PT can be redeemed for the full underlying asset.
• Yield Tokens (YT): These accrue yield until maturity, allowing users to speculate on future yield increases.

For more information on Pendle Finance, check out our previous blog here.

What is PT mETH?

PT mETH is a Principal Token derived from the mETH protocol, representing the underlying value of staked ETH while allowing users to lock in yield. This innovative financial instrument enables users to engage in yield strategies and enhances Demex's overall trading experience.

Buy PT mETH on Pendle here!

Launch of PT mETH on Nitron

The launch of PT mETH on Nitron marks a huge step forward in our advanced Nitron offerings, allowing users to leverage the benefits of liquid staking while engaging with a cross-chain money market to open up more DeFi play. With this launch, users can utilize their staked assets to trade seamlessly, contributing to the vibrant DeFi ecosystem.

Unlocking Your Collateral with PT mETH

By lending your PT mETH on Nitron, you can further unlock your collateral and enhance your trading potential. This opens up a variety of strategic avenues for users:

1. Leverage Perpetual Trading: Once you've lent your PT mETH, you can borrow funds like USDC to trade on perpetual markets such as MNT-PERP, PENDLE-PERP, or ETH-PERP. This allows you to amplify your positions and maximize potential returns through leverage, capitalizing on market movements in various ecosystems.
2. Minting More mETH: You can also use your collateralized PT mETH to borrow ETH, which you can then use to mint additional mETH. This strategy lets you accumulate more PT mETH, increasing your earning potential from staking and trading activities. By compounding your assets, you can enhance your overall yield and further exploit opportunities within the DeFi landscape.
3. Diverse Trading Strategies: The flexibility of PT mETH enables you to implement a range of trading strategies. Whether you're looking to hedge your positions, speculate on market fluctuations, or simply earn yield through staking and liquidity provision, PT mETH serves as a versatile tool in your DeFi toolkit.

By leveraging PT mETH within the Nitron ecosystem, you can effectively navigate the complexities of decentralized finance, unlocking new potential and strategies to enhance your trading experience.

More to Come with Mantle

Demex is poised to expand our offerings significantly as part of our collaboration with Mantle. We will be launching a variety of new assets and trading pairs, along with Mantle-focused competitions that will engage and reward our community.

We are thrilled to announce that with our partnership, you can now trade directly on Demex via the Mantle Network! This integration aims to leverage the full power of DeFi and provide a top-tier trading experience for users in the Mantle ecosystem. As we develop and release more features, users can look forward to an enriched trading environment that combines the strengths of both platforms.

Demex: An Omnichain DEX

Demex stands out as an omnichain decentralized exchange (DEX), providing users with a unified platform to trade assets across various chains. Our recent integration of chain abstraction means users can now connect to over 250 EVM networks via Metamask effortlessly, enhancing trading opportunities and liquidity. This significant milestone allows us to support deposits from numerous chains, making it easier than ever for users to participate in the vibrant world of DeFi.

Looking ahead, we’re excited to announce that we will be expanding our support to include even more chains soon, such as Base, Berachain, Monad, and others. This expansion is designed to create a more inclusive trading environment, giving our users access to a broader range of assets and opportunities.

In addition to our cross-chain capabilities, Demex also offers perpetual trading (perps) for assets from multiple ecosystems. This means traders can take advantage of diverse trading pairs, leveraging their positions across different markets while enjoying the flexibility and liquidity that our platform provides. By listing perps from various ecosystems, Demex empowers traders to implement a variety of strategies and maximize their potential returns.

The TLDR

Demex is thrilled to launch PT mETH on Nitron, marking a new chapter in our partnership with Mantle. With our integration into the Mantle ecosystem, we are committed to providing innovative trading solutions and a superior DeFi experience. As we continue to roll out new features and assets, stay tuned for exciting updates that will enhance your trading journey!