Mantle

What is MNT?

MNT is the native token of Mantle Network, a modular Ethereum Layer 2 built for low-cost, high-speed, Ethereum Virtual Machine (EVM)-compatible decentralized application (dApps). It launched in 2023 via a 1:1 swap from BIT (BitDAO) and powers gas fees, governance, staking, and ecosystem incentives.

Mantle uses optimistic rollups to batch transactions off-chain, reducing network congestion and cost. As the name suggest, “optimistic” means that the transaction is assumed valid unless there is a dispute. Its use of Multi-Party Computation (MPC) nodes shortens withdrawal times from 7 days to 1–2 days, enhancing user experience.

Mantle offers mETH, letting you earn rewards on staked Ethereum while still being liquid - typically, only unstaked Ethereum can be used elsewhere for trading, lending, or liquidity provisioning. Mantle also supports Ignition fBTC, allowing users to interact with real Bitcoin directly on the network. To maintain speed and low costs, it uses EigenDA, a data storage system that keeps the network scalable and secure.

MNT plays two major roles in the Mantle ecosystem:

• Gas Token: MNT is used for transactions, with fees as low as 0.06 Gwei—over 80% cheaper than Ethereum’s average of 19 Gwei. For reference, Gwei is a small unit of Ether used to measure gas fees; 1 billion Gwei = 1 ETH.
• Governance Token: MNT holders vote on upgrades, funding, and strategy, managing one of the largest community treasuries in DeFi.

The History of MNT

Mantle was created from BitDAO’s $2B+ treasury, with early leadership from Jordi Alexander and Arjun Krishan Kalsy. Its testnet launched in January 2023.

In May 2023, BIT merged with Mantle and rebranded as MNT. The mainnet launched on July 17, 2023, alongside a $200M ecosystem fund. Since then, protocols like Pendle and Rarible have joined the network.

Key Features of MNT

• Low-Fee Gas Token: Powers transactions at over 80% lower cost than Ethereum, with 500 TPS and 10 ms block times.
• Governance Power: Empowers holders to vote on key decisions and deploy Mantle’s large DAO treasury.
• Strong Tokenomics: 3B MNT in circulation (51% of total); 49% reserved for growth, grants, and incentives.
• Modular Architecture: Separates execution, settlement, and data layers for speed and scale, using EigenDA for efficient storage.
• Developer-Friendly: Fully EVM-compatible; supports tools like Solidity, Hardhat, and Remix.
• Ecosystem Integrations: MNT connects with mETH (liquid ETH staking) and Ignition fBTC (Bitcoin on-chain), expanding utility and liquidity.