BitDAO backed Mantle Network launches mainnet at EthCC

Mantle Community, the modular Ethereum Layer-2 (L2) blockchain, disclosed the launch of its mainnet on the Ethereum Group Convention (EthCC) in Paris.

This announcement comes on the heels of a big merger with BitDAO, the world’s largest DAO by treasury value, making a unified DAO-led web3 ecosystem often called the Mantle Ecosystem. The merger, sanctioned by the profitable on-chain proposition BIP-21, noticed BitDAO’s ecosystem, merchandise, governance, and BIT tokenomics all transitioning underneath a single model, Mantle.xyz.

Backed by one of many world’s largest on-chain treasuries, following the mixing with BitDAO’s substantial treasury, the mainnet unveiling follows a six-month testnet section. This transfer kickstarts a $200M EcoFund.

Mantle Community’s modular structure segments execution, information availability, consensus, and settlement into separate layers. By collaboration with EigenLayer, an Ethereum restaking protocol, Mantle gives an optimistic roll-up design and revolutionary information availability options. Based on a press launch, these options enable Mantle to retain Ethereum’s safety whereas offering enhanced efficiency at considerably decreased prices.

Jordi Alexander, the strategic advisor of Mantle, commented,

“As this burgeoning area sizzles on the eve of ‘L2 Summer season’, the agility enabled by Mantle Community’s adaptive and iterative design will maintain it on the bleeding fringe of the most recent technological breakthroughs for years to return.”

The testnet section noticed Mantle’s Mainnet Alpha dealing with over 14 million on-chain transactions, deploying over 140,000 sensible contracts from over 48,000 builders, and connecting over 690,000 distinctive pockets addresses.

Mantle Community, in the course of the testnet section, demonstrated its capability to deal with high-frequency decentralized purposes (dApps) like blockchain video games, social graph protocols, and superior DeFi protocols by internet hosting ecosystem companions reminiscent of Game7, HyperPlay, EduDAO, Bybit, and EigenLayer.

The community additionally highlights the potential of tokenized governance by connecting one of many world’s largest decentralized autonomous group (DAO)-led ecosystems of companions, builders, and innovators.

Inheriting BitDAO’s substantial treasury, the Mantle Ecosystem obtained virtually $300 million in USDC/USDT and roughly 270k ETH, with the overall BitDAO treasury valued at roughly $2.5 billion. Token holders are slated to manipulate treasury use and allocation by Mantle Governance, selling the growth and adoption of product traces.