What is the cryptocurrency Mantle (MNT)?
Mantle (MNT) is a Layer 2 blockchain for Ethereum and a fast-growing DAO-driven Web3 ecosystem. Layer 2 is an additional layer built on top of Ethereum's underlying Layer 1, aiming to improve Ethereum's scalability and speed. Mantle aims to bring hyperscale to Ethereum by combining a modular chain approach and a decentralized data availability layer with Ethereum rollups.
BIT will be integrated into MNT through rebranding
Mantle Network is a product of BitDAO and was released as a decentralized Web3 infrastructure that enables the development and execution of fast, secure, and low-cost Web3 applications. BitDAO is an organization established to support the growth of the blockchain industry and is working with Mantle to drive innovation in the data storage field. It was also announced that BitDAO (BIT) will be integrated into Mantle Network's native token, MNT, and this integration is scheduled to start on June 2023, 6, with the exchange rate between BIT and MNT being 22:1.
Technical structure and features of the virtual currency Mantle
Mantle, as an Ethereum Layer 2 blockchain, adopts a modular chain approach. This approach means that Mantle is not a single monolithic chain, but a chain composed of multiple modules. The main modules are the data availability layer, the rollup layer, and the application layer. The data availability layer is a layer that stores all Mantle data and ensures availability, and is built on Arweave. The rollup layer is a layer that processes and validates Mantle transactions, and ensures security and compatibility by sending transaction proofs and aggregations to Ethereum Layer 1. The application layer is a layer that runs applications and smart contracts built on top of Mantle, and is compatible with Ethereum.
Above is the basic information and features of the virtual currency Mantle (MNT). For more information,This linkPlease refer to.
What is BITDAO (old information)
Note: This is old information. The information in MANTLE above is the latest. This is for viewing past (historical) information.
BIT DAO was established to support the development of decentralized platforms such as DeFi and dApps.DAO (Decentralized Autonomous Organization)The BitDAO ecosystem uses the virtual currency BIT.
BitDAO was founded in September 2021.bybitIt is led by Bybit, a Singapore-based cryptocurrency exchange. BitDAO launched its own cryptocurrency, BIT, in October 2022.
BitDAO's goal is to revolutionize the fields of decentralized finance and decentralized applications. BitDAO aims to provide funding and resources to support the development of these fields. BitDAO also aims to build a community that connects people working on the development of these fields.
BitDAO is a project that has the potential to have a significant impact on the fields of decentralized finance and decentralized applications. BitDAO has the potential to accelerate the growth of these fields by providing funding and resources to their development. BitDAO has the potential to accelerate the development of these fields by building a community that connects people working on the development of these fields.
Overview
BitDAO aims to empower builders of the decentralized economy. It is an open platform for proposals voted on by BIT token holders.
Governance
BitDAO is governed by BIT token holders. Submitting soft proposals on the BitDAO forum and official proposals in the BitDAO Governance Module (Snapshot) is permitted. Holding BIT, delegating BIT, and voting on proposals are also permissionless.
All decisions, from launching new initiatives, to transferring or withdrawing treasury resources, granting or changing authority over operations teams, to implementing corrective actions, are subject to proposal and vote by $BIT token holders.
Managing resources
BitDAO’s treasury will grow through:
Net inflows from BIT-powered products such as Mantle (Ethereum Rollup, which flows from various layers of the modular blockchain stack).
Increase in the value of assets held in the treasury or off-chain.
Contributions from Bybit (currently a fixed schedule of $BIT).
- The BitDAO Treasury will allocate resources as follows:
- Fund the development and adoption of products powered by BIT (see BIP-19 Mantle Budget).
- Specialized initiatives (such as Game7 in collaboration with Forte and EduDAO in collaboration with student organizations).
- Liquidity support and BIT purchase program.
- Token swaps with other organisations
- Treasury movements can be tracked on the Treasury Monitor.
principle
- BitDAO is a digital community of partners and stakeholders.
- BIT token holders will control governance, and proposals are openly invited from builders.
- By holding BitDAO and the BIT token, you can submit proposals and participate in voting.
- BitDAO is libertarian and does not force new ideas or development team proposals.
- BitDAO welcomes suggestions for partnerships and related events, and you can provide input on new topics and crowd-sourced events.