Mantle Scouts Program Returns for $5-Million Season 2 With Expanded Cohort of 40 Industry Leaders to Propel Next-Generation Web3 Projects

SINGAPORE, Dec 17, 2024/PRNewswire/—The Mantle Scouts Program, an initiative aimed at supporting the development of Web3 projects, has announced its return for a second season. With a $5-million budget and an expanded group of 40 prominent industry leaders, the program, launched in 2024, has fostered innovation and growth within the Mantle ecosystem, built on the Ethereum Layer 2 (L2) network.

The new season of the Mantle Scouts Program will run from January to June 2025, continuing its mission to fuel the next generation of decentralized applications (dApps). In addition to the expanded budget, the program’s cohort of scouts has quadrupled from 16 to 40, including new participants from Delphi Ventures, Ethena, and OrangeDAO. These scouts are industry veterans, from top investors to experienced founders and Web3 thought leaders.

Ivan Li, Founding Partner of Comma3 Ventures and a scout from Season 1, expressed great satisfaction with the inaugural season, noting that it marked the beginning of something truly significant. He highlighted Mantle’s potential to become a leading ecosystem for decentralized applications.

In its first season, the Mantle Scouts Program supported 16 projects, including the AI consumer app FIDE AI by Metafide, which has reached over 2 million on-chain transactions. The success of this and other projects highlights the program’s effectiveness in helping projects scale through grants, mentorship, and strategic support. As a result, many of these projects have become core advocates within the Mantle ecosystem.

Frank Speiser, CEO of Metafide, credited much of his project’s success to the support provided by the Mantle Scouts Program. He explained that the program’s infrastructure and backing allowed his team to scale rapidly and efficiently, with the Scouts Program playing a crucial role in their growth.

The Mantle Scouts Program is designed to identify and nurture high-potential Web3 projects. In addition to direct grants, it provides mentorship and access to other Mantle ecosystem initiatives, such as the Mantle EcoFund and Sprinter Grants. These resources help ensure that selected projects have the necessary technical, financial, and marketing backing to succeed.

Isaac Choo, Investment Principal at Mirana Ventures and operator of the Mantle EcoFund discussed the important role scouts play in bringing high-quality projects into the ecosystem. He highlighted that the scouts have been valuable partners for Mantle, utilizing their strong connections with top founders to introduce exceptional projects. Additionally, their collective networks have provided crucial resources for founders aiming to accelerate their growth.

Looking ahead, Season 2 will focus on projects in consumer applications, payments, and AI, while also exploring integrations with key ecosystem assets such as FBTC, mETH/cmETH, aUSD from Agora Finance, and USDe from Ethena.

About Mantle

Mantle is an Ethereum Layer 2 ecosystem aimed at building a sustainable hub for financial and consumer on-chain applications. It includes the Mantle Network, a decentralized autonomous organization (DAO), the Mantle Treasury, and the mETH Protocol. The Mantle Network features a modular architecture designed to improve transaction efficiency, while the mETH Protocol provides liquid staking and restaking services for Ether (ETH). Mantle’s initiatives also include the Mantle EcoFund, a capital pool designed to support Web3 innovators, and the Showcase Apps program, which publicizes ecosystem projects.