Mantle (MNT)
Mantle Network is a Layer-2 scaling solution designed to be compatible with the Ethereum Virtual Machine (EVM). Utilizing Optimistic rollups, it facilitates efficient and cost-effective transactions by processing them off-chain and settling them on-chain, thereby enhancing Ethereum's capabilities.
Overview
Founded by Anon, Mantle Network aims to develop a scaling solution that seamlessly integrates with the Ethereum ecosystem, ensuring interoperability with minimal changes to existing contracts and tools. It features a modular architecture that incorporates an optimistic rollup mechanism and innovative data availability solutions, improving accessibility and affordability while maintaining Ethereum's security standards.
The protocol is designed to enhance user experience by reducing costs and simplifying processes for developers. It provides a robust infrastructure for decentralized applications (dApps), leveraging Ethereum's validators and consensus protocols to reduce gas fees, transaction latency, and increase throughput. Users can customize transaction confirmation requirements for optimized security.
| Ticker | MNT |
| Category | Smart Contract Platform |
| Website | https://www.mantle.xyz/ |
| @0xMantle | |
| Telegram | mantlenetwork |
| Contract Addresses | |
|---|---|
| ethereum | 0x3c...54 Copied! |
| mantle | 0xde...00Copied! |
Mantle Network's architecture separates transaction execution, consensus, settlement, and storage functions into distinct modules. This includes an EVM-compatible execution layer, a consensus and settlement layer on Ethereum, and an external data availability component, currently powered by EigenDA technology.
History
Launched in July 2023, Mantle Network was the first Layer-2 solution introduced by a DAO. It originated from BitDAO, known for its significant treasury, and underwent consolidation with Mantle after a community vote in May 2023. This led to the rebranding of BitDAO under Mantle, with BIT tokens convertible to MNT tokens at a 1:1 ratio from June 2023.
Features
Modular blockchain rollups
Mantle Network's layered approach to execution, consensus, settlement, and data availability allows different network participants to manage specialized layers. This design significantly reduces gas costs and enhances overall performance by addressing the Scalability, Security, and Decentralization trilemma. The segregation of resources improves efficiency by allocating specific tasks to each layer, ensuring enhanced security for all users.
Data availability
Mantle Network uses EigenLayer, a re-staking protocol, to ensure data availability for Layer-2 solutions while maintaining security levels comparable to the Ethereum Mainnet. EigenDA, EigenLayer's data availability solution, allows nodes to provide data availability services. Validators stake $MNT tokens to participate in Mantle Network's economic model, enhancing block data completeness and accuracy.
Fraud proofs
In Mantle Network's optimistic model, trust in participants' behavior requires robust fraud proofs for network integrity. Mantle Network compiles and verifies fraud proofs using EVM instructions, allowing all Ethereum clients to interact with a shared proof system and reducing trust assumptions.
Transaction lifecycle
Transactions in Mantle Network start when initiated by a user or dApp. Tools like Mantle SDK facilitate request creation and submission for Sequencer processing. Verified transactions are added to pending blocks, utilizing batch processing to minimize fees. Threshold Signature Scheme nodes verify block data before transmission to Ethereum, where data is recorded on-chain. Data Availability nodes ensure access within Mantle Network, earning $MNT tokens as rewards.
$MNT Token
The $MNT token serves as both a governance and utility token within the Mantle Ecosystem. It carries voting rights for DAO decisions and is used to cover gas fees on the Mantle Network. Additionally, $MNT can act as collateral for Mantle Network nodes.
Tokenomics
The initial distribution of Mantle (MNT) tokens was divided as follows:
- 49.00% allocated to Treasury
- 51.00% allocated to Circulating
Citizens of Mantle
Citizens of Mantle is a native NFT collection created with visual artist Chen Man, rewarding active community members. It synchronizes with the Mantle Journey program, offering incentives for community engagement. Users can join the whitelist by connecting their wallets. The NFT avatars evolve as users reach milestones, reflecting engagement and accomplishments within the Mantle Ecosystem.
mETH Protocol
The mETH Protocol is a permissionless and non-custodial ETH liquid staking protocol governed by Mantle. It features a modern design and robust risk management to enhance Mantle's yield potential. Mantle Staked Ether ($mETH) serves as a value-accumulating receipt token, facilitating ETH deposits from stakers. Upon unstaking, stakers receive their staked ETH and rewards, including priority fees and maximal extractible value (MEV).
Partnerships
Nansen
On March 6th, 2024, Nansen integrated Mantle's data into its blockchain analytics platform, enhancing users' ability to access and analyze on-chain data from Mantle Network.
Ethena
Announced on November 24th, 2023, Mantle Network partnered with Ethena to introduce USDe, a synthetic dollar backed by staked ETH collateral, to the Mantle Ecosystem, providing a crypto-native dollar solution.
Ondo Finance
On November 7th, 2023, Mantle Network collaborated with Ondo Finance to introduce USDY, a yield token backed by real-world assets, on Mantle Network, offering yield through token value appreciation.
NEAR
On September 20th, 2023, NEAR's Blockchain Operating System integrated Mantle Network into its multi-chain ecosystem, expanding access to decentralized applications.
OKX
On September 7th, 2023, Mantle Ecosystem integrated OKX Wallet's DEX aggregator, enabling Mantle Network access on OKX DEX for a broader selection of assets and transactions.
LayerZero
On July 20th, 2023, Mantle Network collaborated with LayerZero to enable cross-chain messaging within the Mantle Ecosystem, connecting over 35 supported blockchains.
Biconomy
On April 18th, 2023, Biconomy partnered with Mantle to provide account abstraction for seamless Web3 experiences with enhanced Ethereum-grade security.
EigenLayer
Mantle Network teamed up with EigenLayer to enhance data availability for rollup-based Layer 2 solutions, ensuring data availability until EigenDA's mainnet launch.