The Creation of Mantle Economics Committee and Introduction of Liquid Staking
The Mantle community recently approved a governance vote that establishes the Mantle Economics Committee and introduces more liquid staking into the ecosystem. This layer 2 network, which recently launched its mainnet technology stack for scaling Ethereum, has a significant treasury of $4.2 billion. Here are the key points:
- A Mantle Economics Committee will manage the layer 2 blockchain’s treasury, which primarily consists of MNT, the governance token for Mantle.
- The treasury holds approximately $300 million in stablecoins USDC and USDT.
- Mantle’s total value locked (TVL) currently stands at $40.73 million, making it smaller compared to competitors Arbitrum and Optimism.
- The governance proposal also authorizes the use of Mantle LSD, a liquid staking protocol, and a collaboration with Lido for ETH staking.
- As part of the staking strategy, 40,000 ETH from Mantle’s treasury will be allocated to stETH to enhance DEX liquidity and integrations across Mantle.
With the creation of the Mantle Economics Committee and the introduction of liquid staking, Mantle aims to further develop its layer 2 network and leverage its substantial treasury to support its ecosystem. This move will provide more opportunities for crypto readers to engage with Mantle and its governance processes.
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