MOE

Merchant Moe (MOE) presents a robust investment case as the primary decentralized exchange (DEX) on the Mantle Network. Its strongest asset is its pedigree; operating as a 'franchise' of the established Trader Joe protocol, it inherits a battle-tested codebase, high-security standards (9/10), and the innovative Liquidity Book architecture. This results in a secure platform with no history of exploits and strong operational execution, despite a seemingly low velocity of local code commits. The tokenomics (7.8/10) are well-structured, utilizing a 'Real Yield' and Vote-Escrow (ve) model to drive value accrual and governance participation, though the relatively low circulating supply (~30%) presents medium-term inflationary headwinds. Community engagement is strong but heavily centralized around incentives and the Mantle ecosystem rather than grassroots viral growth. Overall, MOE combines the reliability of a blue-chip DeFi team with the growth potential of a newer Layer 2 ecosystem, making it a leading infrastructure play on Mantle.