After 6 months of testing, Mantle Network has finally launched its alpha mainnet, aiming to redefine the context of Ethereum’s layer2.
This announcement comes after a significant merger with BitDAO, the world’s largest treasury-backed DAO, creating a unified web3 ecosystem led by DAO called the Mantle Ecosystem.
Now, the ecosystem, products, governance, and token BIT of BitDAO are all consolidated under a single brand – Mantle.xyz.
The mainnet launch is a significant milestone after 6 months of testnet, with rigorous security audits to mitigate potential risks and vulnerabilities. Additionally, the Mantle network has recorded 700,000 unique wallet addresses and successfully processed 15 million on-chain transactions.
On May 20, 2023, BitDAO officially merged with Mantle and initiated the process of converting BIT into MNT tokens. After the merger, the Mantle ecosystem currently holds nearly $300 million in USDC/USDT and approximately 270,000 ETH, with a total BitDAO treasury value of around $2.5 billion.
The project is planning to establish a $200 million ecosystem fund and allocate the funds through Mantle Governance to drive expansion, implement product lines, and support the development of decentralized applications on the network over the next three years.