Mantle Network is a Layer-2 scaling solution designed to enhance the Ethereum blockchain's efficiency. Leveraging Optimistic rollups, Mantle facilitates swift and cost-effective transactions, with all activities ultimately settling on-chain.
Mantle Network (website)is a Layer-2 scaling solution designed to enhance the Ethereum blockchain's efficiency. Leveraging Optimistic rollups, Mantle facilitates swift and cost-effective transactions, with all activities ultimately settling on-chain. Born from the merger of BitDAO and Mantle, the Mantle Ecosystem offers a unified DAO-led web3 platform, housing 31 projects, including prominent decentralized exchanges like Agni Finance. The $MNT token, central to Mantle's ecosystem, empowers holders with voting rights in governance decisions and is utilized for gas fees and as collateral for network nodes. With a commitment to community-driven evolution and a focus on providing a low-fee environment for web3 applications, Mantle stands as a pivotal player in the blockchain domain.
The purpose of the Mantle Network Chain is to provide a Layer-2 scaling solution for the Ethereum blockchain. It uses Optimistic rollups to facilitate cheap and fast transactions by bundling and executing transactions off-chain, but all transactions ultimately settle on-chain. Mantle Network is EVM-compatible, which means all the contracts and tools that work on Ethereum also work on Mantle Network with minimal modifications. Mantle Network aims to deliver an efficient and low-fee environment for deploying smart contracts and experimenting with web3 applications.
The Mantle Ecosystem emerged from the merger of BitDAO, the world's largest DAO by treasury size, and Mantle, a high-performance modular L2 blockchain built on Ethereum. This collaboration led to the creation of a unified DAO-led web3 ecosystem known as the Mantle Ecosystem. The merger integrated BitDAO’s ecosystem, products, governance, and BIT tokenomics under the Mantle.xyz brand. This decision was a result of an on-chain proposition, BIP-21, which received significant support from the BitDAO community.
Mantle Network currently hosts 31 projects, with a total value locked (TVL) of $33.73 million. Among these projects, decentralized exchanges (DEXes) emerge as the most prevalent type. With the biggest project on Mantle being Agni Finance. Agni Finance is a AMM-based DEX and launchpad built to support the Mantle Network ecosystem.
Token holders play a crucial role in shaping Mantle's trajectory through the Mantle Governance process. They have the power to introduce new products, amend tokenomics, allocate budgets, and make organizational and technical decisions. Mantle Governance oversees all products and the Treasury, ensuring token holders have a say in the ecosystem's evolution. Mantle Improvement Proposals (MIPs) are the primary means of proposing and deliberating changes. Initially, MIPs are presented in forums for community feedback. After refining based on this feedback, they move to the Governance Module for official voting, where $MNT token holders can cast their votes. Once approved, these policies are either executed automatically on-chain or implemented off-chain by the core contributor team. Presently, most implementations are conducted off-chain.
The Mantle ecosystem utilizes the $MNT token, which serves both governance and utility roles. Holders of the $MNT token are granted voting rights, allowing them to actively participate in DAO voting and influence the ecosystem's direction. Each token carries equal voting weight, ensuring a decentralized and community-driven approach. Beyond governance, the $MNT token is used for gas fees on the Mantle Network and can act as collateral for Mantle Network nodes, promoting participation and enhancing network security. The token follows the ERC-20 standard, with advanced functions on L1 and a standard bridge-wrapped version on L2. The initial distribution of $MNT on July 7, 2023, allocated 49% to the Mantle Treasury and 51% as circulating tokens. The distribution from the Mantle Treasury is governed by the Mantle Governance process, with potential categories for distribution including user incentives, technology partner incentives, core contributor team and advisors, and other opportunities.
