Date: 20-01-2024
Mantle Introduction
- Mantle is the second layer in Earth’s interior and occupies a whooping 84% of earth’s total volume. Like its namesake, Mantle L2 is also a Layer2 in the Ethereum ecosystem. While far from the 84% share of Earths’s Mantle, Mantle L2 has seen a significant growth and adoption after it Mainnet launch at ETH CC last year and today it boasts of a TVL of $307M (L2beat) and has $134M assets within Mantle DApps (DefiLlama) at the time of writing.
- Mantle is an Optimistic L2 and was incubated by the BitDAO community.
- BitDAO itself was established on August 3rd, 2021, with the investment of notable backers including Peter Thiel, Bybit, Panterra, Founders Fund, Spartan Fund,Dragonfly Capital,etc.
- As part of Mantle Network's Mainnet Alpha launch on July 17, 2023, BitDAO and Mantle Network merged, laying the groundwork for the Mantle ecosystem.
- The erstwhile $BIT token of BitDAO was converted to $MNT with a 1:1 conversion ratio
- Mantle has 600K Twitter followers and 352K Discord members
Mantle Token - $MNT
Price trend from Kaito (Portco of Superscrypt)
MNT token has TOTAL and MAX supply of 6.2B ****MNT, and current FDV of $4.2 B
MNT Token Utility
- You can pay gas in the Mantle network using MNT
- You can participate in the governance of the Mantle protocol
- You can staking MNT for Mantle DA
- MNT can be used in Mantle Ecosystem Grants