What is the Mantle Protocol?
The Mantle Protocol has managed to accumulate over $3 billion in its treasury, making it the richest among all Web3 projects. This surpasses the Ethereum Foundation, which has a treasury of $512 million, according to data from DefiLlama.
The Mantle Network, despite being associated with the BitDAO token, has its own native token called Mantle (MNT). It is used for governance, on-chain fees, and staking rewards. The network is an Ethereum layer-2 rollup blockchain that is fully compatible with the Ethereum Virtual Machine (EVM). This allows ERC-20 tokens to be bridged to Mantle.
Like other layer-2 solutions such as Polygon and Arbitrum, the Mantle Protocol aims to provide scalability, efficiency, and affordability to the Ethereum ecosystem.
The protocol’s $3 billion treasury operations are transparent and can be monitored through on-chain reports.
Funding for Mantle and BitDAO treasuries
The fundraising environment in 2023 has been challenging for both public and private sales. Many projects have struggled to raise funds or sustain their treasuries.
However, both the BitDAO Community and the Mantle Protocol have successfully maintained healthy treasuries. They are currently the richest in the Web3 space, which positions them advantageously for future endeavors.
BitDAO has been particularly successful in fundraising, raising $230 million in a private funding round, over $379 million through its IDO, and $14 million in an IEO on Bybit. These achievements occurred in July, August, and September of 2021, respectively.
Hot Take: The Mantle Protocol Leads the Way with a $3 Billion Treasury
While many Web3 projects have struggled to maintain their treasuries in the bear market, the Mantle Protocol stands out with its impressive $3 billion treasury. This makes it the richest project in the Web3 space, surpassing even the Ethereum Foundation.
The Mantle Network, incubated by the BitDAO community, offers a rollup layer-2 blockchain solution for Ethereum. It aims to enhance scalability, efficiency, and affordability for decentralized applications and smart contract deployment.
With its transparent treasury operations and strong funding support from BitDAO, the Mantle Protocol is well-positioned to lead the way in the evolving Web3 landscape.
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