What is Mantle?
Mantle, previously known as BitDAO, is an ecosystem investment DAO that is closely affiliated with Bybit, a centralized cryptocurrency exchange. Its token, MNT, is used for governance, as gas on Mantle Network, and for staking on Sequencers, MPC nodes, and EigenDA.
Background
BitDAO transitioned to Mantle in 2022.
How it Works
Mantle has funded Mantle Network, an Optimistic rollup (ORU) technology stack for scaling Ethereum. It aims to be EVM-compatible, meaning that contracts and tools on Ethereum also work on Mantle Network with minimal modifications.
Mantle Network combines an optimistic roll-up protocol with a data availability solution, inheriting security from Ethereum and offering cheaper and more accessible data availability. It provides a superior user experience with significantly lower gas fees, reduced latency, and improved throughput. Mantle’s execution layer offers an EVM-compatible environment for transaction execution, while consensus and settlement occur on L1 Ethereum. Data availability services are provided through Mantle DA. If a state commitment gets challenged, its validity is established by executing it.
Key Takeaways
- Mantle, formerly known as BitDAO, is an ecosystem investment DAO closely affiliated with Bybit.
- The Mantle token, MNT, is used for governance, as gas on the Mantle Network, and for staking on various platforms.
- Mantle Network is an Optimistic rollup (ORU) that scales Ethereum and aims to be EVM-compatible.
- Mantle Network provides a better user experience with lower gas fees, reduced latency, and improved throughput.
- Mantle combines an optimistic roll-up protocol with a data availability solution, securing the system through Ethereum.
