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MNT

Mantle (MNT) Price Index

$ 0.955614 Ƀ 0.00001405
  • MarketCap
    $ 3,082,290,497
  • Volume
    $ 290,595,001
  • Change
    8.58%
mantleMantle
$ 0.955614
$ 0.955614
8.58%
0,881146
MNT
Mantle (MNT)
$ 0.955614
MNT
Mantle (MNT)
author
author
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
By Marcel Deer
author
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
on September 07, 2023 | 4 min
Updated on Dec 13, 2023

What is Mantle (MNT)?

Mantle (MNT) is the native token of the Mantle Network, a Layer-2 scaling solution based on Ethereum. A leading crypto exchange, Bybit, backs the project. Mantle (MNT) originated from the BitDAO community, and the Mantle Network merged with BitDAO in May 2023.

 

As the project originated as a BitDAO proposal via its decentralized autonomous organization (DAO), there are said to be no official founders. Still, DAO members ‘jacobc.eth’, the founder of HyperPlay, and Ben Zhou, the CEO of Bybit, proposed. The Mantle (MNT) token and mainnet launched in July 2023, and BitDAO’s BIT tokens were converted to MNT.

 

What Is the History of Mantle (MNT)?

Firstly, the Mantle Network results from a proposal in the BitDAO community. BitDAO is, or was, a decentralized cryptocurrency investment fund with substantial backing from Bybit and others, founded by Peter Thiel.

 

Mantle is the first Layer-2 solution to have been launched by a DAO. In May 2023, the BitDAO community voted to consolidate BitDAO and Mantle Network into one brand. BitDAO became “Mantle Governance, and all BitDAO (BIT) tokens were converted to Mantle (MNT) tokens in June 2023. The merger between BitDAO and Mantle combines BitDAO’s governance (its DAO) and substantial treasury with Mantle’s technical capabilities. Mantle Network reportedly has over $300 million in stablecoin reserves and nearly $500 million in the treasury.

 

Mantle Network describes itself as a technology stack for scaling Ethereum. The mainnet is now open for developers to build upon, and it is Ethereum EVM-compatible, which means that contracts and tools that work on Ethereum also work on Mantle with “minimal modifications.”

 

What Makes Mantle Coin Unique?

Mantle (MNT) has several unique features that set it apart in the blockchain and cryptocurrency landscape.

 

Firstly, Mantle’s governance occurs off-chain and involves the community in decision-making processes. MNT holders can vote on Mantle Improvement Proposals (MIPs) that influence the network’s direction​​​​.

 

Secondly, the Mantle Network utilizes a modular architecture for blockchain operations, dividing tasks such as transaction execution, data availability, and transaction finality among independent network nodes, leading to increased efficiency and lower fees​​​​. It employs Optimistic rollups as part of its Layer 2 scaling solution for Ethereum. This technology bundles and executes transactions off-chain while ultimately settling them on-chain, offering cheap and fast transactions​​. The Mantle network claims an over 80% reduction in gas fees compared to Ethereum and a transaction processing speed of 500 transactions per second (TPS), significantly faster than Ethereum’s 32 TPS​​.

Another unique aspect of the ecosystem is that a $200 million development fund supports it, and the network has launched initiatives like the Mantle Grants Program and Mantle EcoFund to support innovation and development within its ecosystem​​.

 

What Is Mantle (MNT) Used for?

Mantle (MNT) is used to pay transaction fees on the network and can be staked. MNT can also be bought, sold, and traded on cryptocurrency exchanges.

MNT is used to govern the Mantle Network and DAO. MNT holders can submit and vote on proposals for funding and token swaps, other treasury allocations, and governance and management updates.

 

How Does Mantle Work?

MNT holders have a say in the decision-making and governance of the platform and vote to decide how funds should be allocated.

Mantle has adopted BitDAO’s proposal-based system, where anyone can submit a proposal for support or funding. MNT holders vote, and projects with enough votes are approved and funded.

The Mantle Network’s Ethereum Virtual Machine (EVM)-compatible Layer-2 scaling uses Optimistic rollups for cheaper, faster transactions. The network bundles and executes transactions off-chain, but transactions are finalized on Ethereum. Transaction execution happens on Mantle’s settlement layer, but Ethereum’s Layer-1 prioritises consensus.

 

How Is the Price of Mantle (MNT) Determined?

The MNT coin price is primarily influenced by supply and demand. It’s also affected by the success and support of the Mantle Network.

The following factors determine the price of MNT:

 

  • Supply, demand, and scarcity
  • Liquidity
  • MNT market sentiment
  • Wider cryptocurrency market sentiment
  • Mantle Network performance and use
  • Competing cryptocurrencies and blockchains

 

What Is the Mantle Coin Price Prediction for 2030?

It’s almost impossible to predict the future price of any cryptocurrency accurately, but there are many MNT price predictions for 2030.

CoinCodex predicts that the MNT price in 2030 will be between $1.16 and $1.47. CoinMarketCap is more bullish, with a maximum MNT price prediction for 2030 of $11.09.

 

How Is the Mantle (MNT) Network Secured?

The Mantle Network is secured by Ethereum using a novel rollup architecture. The Mantle Network executes transactions off-chain, but they are finalized on Ethereum using the blockchain’s security and consensus mechanism.

 

Where Can You Buy Mantle?

MNT is widely traded and available on major cryptocurrency exchanges, including Bybit, HTX, KuCoin, MEXC, Gate.io, and Coinone. It’s also available on the decentralized exchange Uniswap.

 

How Can You Store Mantle (MNT)?

Mantle (MNT) can be stored in a compatible hot or cold wallet. The least safe storage method is to keep Mantle (MNT) on an exchange wallet. The safest method of storing cryptocurrency is a cold storage or hardware device such as a Ledger or Trezor.

 

FAQs

Is Mantle crypto a good investment?

Investors will decide if Mantle (MNT) is a good investment based on thorough research of the token, the Mantle Network and its technology, its competitors, the community and the projects it supports, and the whole cryptocurrency market. Since cryptocurrencies can be incredibly volatile and high-risk, investors must be vigilant of their risk tolerance and only invest what they can afford to lose.

 

How do you get a Mantle coin?

MNT is widely traded and available to buy or sell on major cryptocurrency exchanges, including Bybit, HTX, KuCoin, MEXC, Gate.io, and Coinone. It’s also available on the decentralized exchange Uniswap.

 

What is the Mantle coin network?

The Mantle Network is an Ethereum-compatible Layer-2 scaling solution. The project is backed by Bybit, originated from the BitDAO community, and merged with BitDAO in May 2023.

 

What is Mantle crypto price prediction?

There are numerous MNT price predictions despite cryptocurrencies being almost impossible to predict. CoinCodex predicts MNT price in 2030 will be between $1.16 and $1.47.

 

What is the total supply of Mantle tokens?

The maximum total supply of Mantle (MNT) is 6.2 billion tokens. There are over 3 billion tokens already in circulation.

author
About Marcel Deer
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
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