Mantle (MNT) Price

BitDAO becomes Mantle

Mantle started life as BitDAO, a decentralised organisation launched in 2021 with backing from the Bybit exchange and a large treasury. In 2023 BitDAO's community voted to merge with the Mantle project, and BIT tokens were converted into MNT on a one-to-one basis.

The Mantle Network mainnet launched in July 2023. Its treasury, among the largest held by any blockchain community, has been used to fund ecosystem development and products such as mETH, a liquid staking token for ether.

From optimistic to zero-knowledge proofs

Mantle was originally built as an optimistic rollup on the OP Stack with a modular design that stored transaction data outside Ethereum to cut costs. It processes transactions off Ethereum's main chain and settles results back to it.

The network has since moved to validity proofs using OP Succinct, which applies zero-knowledge proofs generated by Succinct's SP1 system to OP Stack chains. Validity proofs let Ethereum verify state transitions directly instead of waiting out a challenge period, which shortens withdrawal times.

MNT is the network's gas token and its governance token, used to vote on how the treasury and protocol are managed. Like many rollups, Mantle still relies on centralised operators for sequencing transactions. That means a single operator can order or delay transactions, even though proofs posted to Ethereum limit what it can do with users' funds.

What affects MNT

MNT is influenced by activity on Mantle Network, treasury decisions and its relationship with Bybit, which has supported the ecosystem through listings and promotions.

Competition among Ethereum layer-2 networks is intense, and fees on such networks are low, so token value depends more on ecosystem growth and sentiment than on fee income.

Mantle's ecosystem products include mETH, which lets users stake ether and receive a token that accrues staking rewards while remaining usable in DeFi, and FBTC, a wrapped form of bitcoin, both promoted as ways to link the network with exchange and institutional users.

Frequently asked questions