The layer 2 project based on Ethereum (ETH) climbed to the top with the announcement of a new reward system.
The cryptocurrency exchange Bybit-backed Mantle (MNT) announced its reward program on Wednesday, March 27, causing the token price of the project to reach its peak. The program, called Mantle Rewards Station, attracted 11,254 users and locked in 56.6 million MNT worth 68 million dollars in a short amount of time.
Participation in the reward program will continue until April 26. Users will receive Ethena Shards (mShard) rewards in proportion to the amount of MNT they have locked.
The rewards will be covered by the Mantle treasury, and users will be able to withdraw mShard rewards daily. MShard holders will have the right to buy the altcoin called ENA to be issued by Ethana Labs:
The Ethena Shards rewards for the campaign are fully supported by the Mantle treasury and will be distributed to participants in the form of mShard receipts through the Mantle Rewards Station. MShard holders will have the right to purchase ENA, the native token of Ethena.
According to CoinGecko data, MNT, which gained momentum with the announcement of the event, quickly rose by 60% reaching an all-time high of 1.47 dollars1.21 dollars.
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