Mantle Network, a modular Ethereum Layer 2 (L2) blockchain, announced the launch of its mainnet at the Ethereum Community Conference (EthCC) in Paris.
The announcement comes on the heels of a significant merger with BitDAO, the world’s largest DAO. financial value, creating a unified DAO-driven Web3 ecosystem known as the Mantle Ecosystem. The merger was sanctioned by the successful on-chain proposal BIP-21, moving the BitDAO ecosystem, products, governance and BIT tokennomics all under a single brand, Mantle.xyz.
Backed by one of the world’s largest on-chain treasuries, following BitDAO’s de facto treasury integration, the mainnet announcement comes after a six-month testnet phase. The move will launch a $200 million eco fund.
The Mantle Network’s modular architecture separates execution, data availability, consensus, and settlement into separate tiers. Mantle offers an optimistic rollup design and an innovative data availability solution through its collaboration with his EigenLayer, the Ethereum re-staking protocol. According to the press release, these features will allow Mantle to maintain the security of Ethereum while delivering improved performance at a significantly reduced cost.
Mantle Strategic Advisor Jordi Alexander commented:
“While this burgeoning universe will erupt on the eve of ‘L2 Summer’, the agility enabled by the adaptive and iterative design of the Mantle Network will allow it to stay ahead of the latest innovations for years to come. We can stay on top.”
During the testnet phase, Mantle’s Mainnet Alpha has processed over 14 million on-chain transactions, deployed over 140,000 smart contracts from over 48,000 developers, and connected over 690,000 unique wallet addresses. bottom.
In the testnet phase, Mantle Network will host ecosystem partners such as Game7, HyperPlay, EduDAO, Bybit, EigenLayer, etc. to develop high-frequency decentralized applications (dApps) such as blockchain games, social graph protocols, and advanced DeFi protocols. demonstrated the ability to handle
The network also highlights the potential for tokenized governance by connecting the world’s largest Decentralized Autonomous Organization (DAO)-driven ecosystem of partners, builders and innovators.
The Mantle Ecosystem, which took over BitDAO’s large amount of funds, received approximately $300 million and approximately 270,000 ETH in USDC/USDT, and BitDAO’s total funding was valued at approximately $2.5 billion. Token holders will control the use and allocation of their treasury through Mantle Governance to drive product line expansion and adoption.