MantlePrice

(MNT)

Mantle is a modular Ethereum Layer 2 (L2) scaling solution designed to enhance the speed and reduce the cost of transactions. It operates using "optimistic rollup" technology, which processes transactions off-chain before settling them on the Ethereum mainnet. This approach allows Mantle to inherit Ethereum's robust security while significantly increasing transaction throughput and efficiency. Its modular architecture distinguishes it by separating core functions like execution, settlement, and data availability for optimized performance.

Mantle stands out as the first modular Layer 2 solution, fundamentally differing from monolithic L2s like Arbitrum or Optimism. It achieves this by separating its core functions: transaction execution, settlement, and data availability. Crucially, Mantle employs a dedicated data availability layer, Mantle DA (powered by EigenDA), rather than posting all transaction data directly to the Ethereum mainnet. This innovative approach substantially lowers transaction costs and enhances scalability compared to other existing L2 solutions.

The MNT token serves multiple essential utilities within the Mantle ecosystem. Firstly, it functions as the native gas token, meaning all transaction fees on the Mantle Network are paid using MNT, distinguishing it from many other L2s that use ETH. Secondly, MNT holders possess significant governance power, allowing them to vote on "Mantle Improvement Proposals" (MIPs) and influence the strategic allocation of the substantial Mantle Treasury. Lastly, MNT can be utilized by network nodes as collateral, facilitating their participation in the network's decentralized operational mechanisms.

MNT is the direct successor to the BIT token. The transition occurred after a significant community vote and rebranding initiative, which led to the complete merger of the previous ecosystem into Mantle. As part of this process, all existing BIT tokens were migrated to MNT tokens at a straightforward 1:1 conversion ratio, ensuring a seamless continuity for all token holders who previously held BIT and automatically becoming MNT holders after the migration.

Yes, the official migration portal for converting BIT to MNT remains active at `migratebit.mantle.xyz`. For many users, particularly those holding BIT on major centralized crypto platforms, the migration process was handled automatically. These platforms typically converted BIT holdings to MNT on behalf of their users without requiring manual intervention, simplifying the transition for the majority of the community. Users still holding BIT in self-custody or on other platforms can use the official portal.

The Mantle Treasury is a colossal, community-controlled fund, inherited from the former BitDAO, making it one of the largest decentralized treasuries in the cryptocurrency space. It holds substantial assets, which are strategically deployed to foster the growth and development of the Mantle ecosystem. Its primary functions include financing new projects, implementing liquidity programs, and forging key strategic partnerships to expand Mantle's reach and impact within the Web3 landscape. This treasury empowers the community to direct significant resources.