Mantle Network, a modular Ethereum Layer-2 (L2) blockchain, made a significant announcement during the Ethereum Community Conference (EthCC) held in Paris. The company revealed the launch of its mainnet, marking a major milestone in the development of its blockchain ecosystem.
What makes this news even more noteworthy is the recent merger between Mantle Network and BitDAO, the world’s largest decentralized autonomous organization (DAO) in terms of treasury value. The merger has resulted in the creation of a unified web3 ecosystem known as the Mantle Ecosystem, which is driven by DAO governance. As part of this consolidation, BitDAO’s ecosystem, products, governance, and BIT tokenomics have all transitioned under the brand of Mantle.xyz.
With the backing of one of the largest on-chain treasuries in the world, courtesy of BitDAO’s substantial treasury integration, the launch of Mantle Network’s mainnet follows a successful six-month testnet phase. This milestone also kicks off a $200 million EcoFund, which aims to fuel the growth and development of the Mantle Ecosystem.
Mantle Network’s architecture adopts a modular approach by segmenting execution, data availability, consensus, and settlement into separate layers. By collaborating with EigenLayer, an Ethereum restaking protocol, Mantle Network offers an optimistic roll-up design and revolutionary data availability solutions. These innovative features enable Mantle Network to maintain Ethereum’s security while delivering improved performance at significantly reduced costs.
In line with this development, BitDAO has introduced the MIP-24 proposal, outlining plans to deploy a substantial amount of funds to support the Layer 2 Mantle ecosystem. The proposal aims to deploy more than 40 projects and achieve a financial return of 1.5 times the Multiple on Invested Capital (MOIC) within three years. Strategic venture partners such as Animoca, Bankless, and Dragonfly, among others, have shown their support for the proposal. The proposal was co-authored by Mirana Ventures and the Mantle Core Contributor Team and incorporates valuable feedback from the Mantle community and strategic venture partners.
Read more:
- BitDAO To Merge BIT Into Mantle Network’s Layer-2 Token
- Mantle DAO Proposes 40,000 ETH Transfer To Lido’s StETH For Liquid Staking
- BitDAO Proposes $200 Million Deployment To Fuel Growth Of Mantle Network’s Layer 2 Ecosystem