What is Mantle ($MNT)?

This community-driven Layer 2 is flying under the radar, it has a market cap of over $3B, a rewarding ecosystem and is fully governed by its token holders, as it should be…

This is Mantle.

What is Mantle ($MNT)?

Mantle ($MNT) which used to be known as BitDAO is now an Ethereum Layer 2 built using Optimism Stack and is on the mission to create the ultimate ecosystem of token-governed products and solutions.

The future of the Mantle network is in the hands of $MNT holders.

What makes Mantle so unique is its three-layer modular architecture which utilises the Ethereum Virtual Machine (EVM) for settlement and consensus, the Mantle network for execution and the newly integrated EigenLayer which is used for data availability.

Mantle Ecosystem

The Mantle ecosystem is entirely governed and controlled by the $MNT token holders. New products and solutions are all decided by fellow Mantlers. The first and prominent product $MNT holders decided on was the Mantle Liquid Staking Protocol (LSP).

Mantle users can seamlessly stake $ETH for $mETH (1:1) on both the Ethereum mainnet and the Mantle network providing you with passive, compounding rewards with no lock-up requirements! For those staking $mETH on Mantle, they can simultaneously earn EigenLayer points!

Excluding the native Mantle products, the Mantle Layer 2 ecosystem of dApps is growing exponentially and has become a desired network for both developers and users. In the ecosystem, you will find major protocols such as Ondo Finance, LayerZero and hundreds more.

Mantle Token ($MNT)

The $MNT token is the driving force behind the entire ecosystem and is used for:

Governance (Mantle DAO)
Pay for gas fees on the Mantle network
Collateral for Mantle Nodes
Staking
With more utilities possibly coming soon…

Further dedicating more rewards to $MNT holders, for those locking up $MNT will gain access to an exclusive array of token rewards in their dedicated Mantle Rewards Station which currently has over 14K stakers and over 24.5 $MNT locked up!

Check it out here over on the official Mantle Rewards Station.

Conclusion

At the time of writing, $MNT is currently priced at $1.04 with a market cap of $3.4B. Very recently, in April 2024 the $MNT broke and achieved a new ATH of $1.51 and almost peaked at a market cap of $5B. Now let’s imagine what $MNT could do in a bull run…

The Layer 2 narrative will go ballistic in the bull run when Ethereum gas fees are once again unbearable and the only place to enjoy a cheap Ethereum experience will be from the selection of Layer 2 networks.

Mantle, are you ready to onboard the next wave of Web3 users?