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Mantle Network, the modular Ethereum Layer-2 (L2) blockchain, disclosed the launch of its mainnet at the Ethereum Community Conference (EthCC) in Paris.
This announcement comes on the heels of a significant merger with BitDAO, the worldâs largest DAO by treasury value, creating a unified DAO-led web3 ecosystem known as the Mantle Ecosystem. The merger, sanctioned by the successful on-chain proposition BIP-21, saw BitDAOâs ecosystem, products, governance, and BIT tokenomics all transitioning under a single brand, Mantle.xyz.
Backed by one of the worldâs largest on-chain treasuries, following the integration with BitDAOâs substantial treasury, the mainnet unveiling follows a six-month testnet phase. This move kickstarts a $200M EcoFund.
Mantle Networkâs modular architecture segments execution, data availability, consensus, and settlement into separate layers. Through collaboration with EigenLayer, an Ethereum restaking protocol, Mantle offers an optimistic roll-up design and revolutionary data availability solutions. According to a press release, these features allow Mantle to retain Ethereumâs security while providing enhanced performance at significantly reduced costs.
Jordi Alexander, the strategic advisor of Mantle, commented,
âAs this burgeoning space sizzles on the eve of âL2 Summerâ, the agility enabled by Mantle Networkâs adaptive and iterative design will keep it at the bleeding edge of the latest technological breakthroughs for years to come.â
The testnet phase saw Mantleâs Mainnet Alpha handling over 14 million on-chain transactions, deploying over 140,000 smart contracts from over 48,000 developers, and connecting over 690,000 unique wallet addresses.
Mantle Network, during the testnet phase, demonstrated its capacity to handle high-frequency decentralized applications (dApps) like blockchain games, social graph protocols, and advanced DeFi protocols by hosting ecosystem partners such as Game7, HyperPlay, EduDAO, Bybit, and EigenLayer.
The network also highlights the potential of tokenized governance by connecting one of the worldâs largest decentralized autonomous organization (DAO)-led ecosystems of partners, builders, and innovators.
Inheriting BitDAOâs substantial treasury, the Mantle Ecosystem received almost $300 million in USDC/USDT and approximately 270k ETH, with the total BitDAO treasury valued at roughly $2.5 billion. Token holders are slated to govern treasury use and allocation through Mantle Governance, promoting the expansion and adoption of product lines.
The post BitDAO backed Mantle Network launches mainnet at EthCC appeared first on CryptoSlate.
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