Explore the innovative blockchain ecosystem of Mantle (MNT), formerly known as BitDAO. Backed by a substantial treasury and a dedicated community, Mantle aims to redefine DeFi, Web3 gaming, and blockchain infrastructure. Discover its functioning, evolution from BitDAO, and the potential impact of the MNT token.
Mantle (MNT) is a Layer 2 (L2) blockchain ecosystem for Ethereum, designed to offer high performance and low latency while maintaining the security of the Ethereum network. It is the result of the rebranding of BitDAO, one of the largest decentralized autonomous organizations (DAOs) by treasury size. This transition, formalized in July 2023, saw the BIT token converted to the MNT token at a 1:1 ratio.
Mantle Network positions itself as a modular scaling solution for Ethereum, using an optimistic roll-up approach with a separate data availability architecture, initially via Mantle DA (powered by EigenLayer’s EigenDA technology).
The goal of Mantle is to make Ethereum more accessible and higher-performing for developers and users by reducing transaction costs and increasing throughput. The MNT token is at the heart of this ecosystem, serving both as a governance token for the Mantle ecosystem (inheriting the governance role of the former BitDAO treasury) and as a utility token within Mantle Network (for example, for gas fee payments).
The Mantle treasury, formerly that of BitDAO, continues to play a crucial role in funding and developing the Mantle ecosystem and broader Web3 projects.
The history of Mantle (MNT) is intrinsically linked to that of BitDAO, the entity that preceded it. BitDAO was officially launched in 2021, quickly positioning itself as a substantial decentralized autonomous organization (DAO) thanks to its significant treasury.
The project attracted attention with an initial funding round of $230 million, led by Pantera Capital and supported by renowned investors such as Peter Thiel and Alan Howard, as well as entities like Polygon, Jump Capital, and especially Bybit, which became a major strategic partner. Shortly after, the public launch of the BIT governance token via MISO (SushiSwap’s launchpad) raised an additional $365 million, consolidating the treasury and expanding the BitDAO community.
During its existence, BitDAO focused on funding projects and initiatives aimed at accelerating innovation in the Web3 ecosystem, allocating considerable funds to projects such as EduDAO, Game7, and zkDAO. Governance was ensured by BIT token holders. However, to better align the brand with its technological ambitions and the creation of a unified ecosystem around its own Layer 2 network, the BitDAO community voted in favor of a major rebranding.
This transition was formalized in July 2023, marking the transformation of BitDAO into Mantle. The process involved converting all BIT tokens to MNT tokens at a 1:1 ratio. Bybit’s announcement dated June 22, 2023 detailed the platform’s support for this conversion, with a snapshot of BIT holdings taking place on July 17, 2023, followed by an automatic conversion to MNT.
This rebranding was not just a name change but a strategic evolution aimed at unifying governance, treasury, and the main product (Mantle Network) under a single coherent brand, Mantle, to foster increased growth and adoption.
Like its predecessor BitDAO, Mantle (MNT) does not have a single “creator” in the traditional sense of a centralized company. As a decentralized ecosystem, its direction and governance are collectively ensured by MNT token holders through Mantle Governance. However, the initial impetus for BitDAO, which laid the foundations for what is now Mantle, came from a consortium of influential players in the world of finance and blockchain technology.
Among the main initiators and supporters of the BitDAO phase were Pantera Capital, a leading investment firm in digital assets. Personalities such as Peter Thiel (co-founder of PayPal) and Alan Howard also provided their support. Specialized entities such as Polygon and Jump Capital also played a decisive role, but particularly strategic support came from Bybit. One of the largest cryptocurrency exchange platforms, which had committed to making a significant contribution to the treasury.
The transition to Mantle was a community decision, voted on by BIT token holders, underlining the decentralized nature of its strategic direction. The Mantle ecosystem continues to be shaped by its community and the partners who contribute to its development and growth.
The Mantle (MNT) token, at the heart of the Mantle ecosystem, fulfills several crucial functions, inheriting and extending the utilities of the former BIT token while deeply integrating with Mantle Network.
Its primary function is as a governance token. MNT holders have the power to actively participate in strategic decisions regarding the Mantle ecosystem, including the allocation of treasury funds, network upgrades, and future directions for various products and initiatives.
Beyond governance, MNT is an essential utility token within Mantle Network, the Layer 2 solution. It is used to pay for gas fees (transactions) on the network. This direct use as “fuel” incentivizes its holding and use by users and developers who interact with decentralized applications (dApps) deployed on Mantle Network.
Additionally, the MNT token plays a role in securing and operating certain components of the ecosystem. For example, it could be used in staking or delegation mechanisms for network validators or sequencers, thus contributing to its robustness and decentralization.
The Mantle ecosystem aims to foster the growth of innovative projects in Web3, and the MNT token, along with the treasury it governs, are key instruments for funding and supporting these developments, whether in DeFi, gaming, NFTs, or other emerging sectors.
The Mantle (MNT) token exists primarily as an ERC-20 token on the Ethereum blockchain. This ensures continuity for former BIT token holders and allows MNT to benefit from the vast compatibility of the Ethereum ecosystem, including wallets, decentralized exchanges (DEXs), and decentralized finance (DeFi) applications.
Secondly, and this is a key evolution with the rebranding, the MNT token is also the native token of Mantle Network, the Layer 2 (L2) solution developed by the ecosystem. On Mantle Network, MNT is used to pay for transaction fees (gas), participate in network security, and potentially for other L2-specific functionalities.
Following the conversion of BIT tokens (ERC-20) to MNT tokens (ERC-20), users have been able to bridge their ERC-20 MNT tokens to Mantle Network to use them natively on the Layer 2.
This dual presence allows MNT to serve both treasury governance on Ethereum and utility operations on its own high-performance L2.
The transformation of BitDAO (BIT) into Mantle (MNT), formalized in July 2023, represents a major strategic evolution for the ecosystem. This decision, approved by the community of BIT token holders, aimed to unify the brand, governance, treasury, and main product.
The implications of this rebranding are multiple. For users and token holders, it meant a clarification of the ecosystem’s value proposition, now centered on Mantle Network and its capabilities as an L2. For the ecosystem itself, it allowed for the concentration of development and marketing efforts under a single banner, Mantle, with the MNT token serving both as a governance token for the entire ecosystem (including management of the treasury inherited from BitDAO) and as a utility token for operations on Mantle Network (payment of gas fees, participation in network security).
This unification aims to create a more robust ecosystem that’s easier to understand and more attractive to developers, users, and potential investors in Web3.
The Mantle (MNT) ecosystem, heir to BitDAO, presents a set of advantages while facing certain challenges inherent to the cryptocurrency space and Layer 2 solutions.
The Mantle (MNT) token, having succeeded BIT in July 2023, has seen its price evolve based on cryptocurrency market dynamics and developments specific to the ecosystem. As of early May 2025, the price of MNT stands around $0.75 – $0.80, after a 45% decline since January 2025.
Regarding price predictions for MNT, it is essential to remember the highly speculative nature of the cryptocurrency market. Forecasts should be considered with caution. Several factors could positively influence the price of MNT :
Several platforms and analyses offer predictions for MNT. For example, CoinCodex forecasts a potential rise to reach approximately $2.70 by June 2025. Botsfolio indicates a possible range between $2.56 and $4.97 in the same year, and finally, CoinLore suggests a price of $1.67.
For 2030, Changelly estimates an average price for MNT around $7.39, with a possible range between $7.14 and $8.48, while Botsfolio sees a range of $3.69 to $4.44.
These forecasts are very optimistic, and investors must imperatively conduct their own research and assess the risks before making any investment decision.
The history of Mantle (MNT) is marked by key milestones of its predecessor, BitDAO, as well as by its own evolution since the rebranding. Here are the most significant moments :
This $230 million funding round, led by Pantera Capital and supported by figures such as Peter Thiel and Alan Howard, as well as entities like Polygon, Jump Capital, and Bybit, marked the official birth of BitDAO and immediately signaled its grand ambitions. This event is foundational for what would become Mantle.
The public sale of the BIT token on MISO (SushiSwap’s launchpad) raised an additional $365 million. This event engaged a broad community of token holders, laying the foundations for the decentralized governance that continues with Mantle.
Bybit’s commitment to contribute significantly to the BitDAO treasury provided a solid financial foundation. During this period, BitDAO initiated major strategic investments in projects such as EduDAO, Game7 (a $500 million fund for Web3 gaming), and zkDAO (a $200 million fund for the zkSync ecosystem), the fruits and management of which are now under Mantle’s aegis.
The community of BIT token holders voted in favor of the proposal to unify the brand and product, leading to the rebranding of BitDAO to Mantle. This decision marked a strategic turning point towards a more integrated ecosystem.
On June 22, 2023, Bybit announced its support for the conversion of BIT tokens to MNT. The snapshot of BIT balances took place on July 17, 2023, followed by the automatic conversion at a 1:1 ratio. This event formalized the birth of Mantle (MNT) and the beginning of a new era for the ecosystem.
After the rebranding, the focus was placed on the continuous launch and development of Mantle Network as a modular Layer 2 solution for Ethereum. The integration of technologies such as EigenDA for data availability and efforts to attract dApps and users to the network constitute key steps in this new phase.
These moments illustrate the transition from a major investment DAO to a complete blockchain ecosystem, with Mantle Network as the flagship product and the MNT token as the pillar of its governance and utility.
Acquiring Mantle (MNT) tokens is an accessible process for anyone wishing to gain exposure to this governance and investment ecosystem. Among the available options for buying MNT, Bitget and Bybit stand out as particularly relevant platforms.
Indeed, Bybit is not only a major strategic partner of Mantle, having contributed significantly to its treasury, but also offers a user-friendly interface and advanced trading features.
Currently, you cannot create a new account on Bybit in Every countries. We therefore invite you to check out our ranking of the best platforms in 2025 if you want to buy MNT :
When considering buying cryptocurrencies like MNT, it’s important to understand the difference between specialized exchanges and traditional brokers. We recommend prioritizing specialized cryptocurrency exchanges such as Bitget, Bybit, or Binance because you actually buy and hold the cryptocurrencies.
You have the ability to withdraw them to your own personal wallet, giving you total control over your assets. Conversely, some traditional brokers that offer exposure to cryptocurrencies often do so via derivative products (such as CFDs) where you don’t own the underlying asset. You’re simply speculating on its price variations.
Here’s how to buy Mantle in 5 steps on the best platform in our ranking.
Once you have acquired Mantle (MNT) tokens, the question of their secure storage becomes paramount, especially if you are considering long-term holding or if you possess a significant amount of tokens.
There are mainly two categories of wallets to store your MNT : hot wallets and cold wallets.
Hot wallets are wallets connected to the internet. They can take the form of mobile applications or browser extensions (such as MetaMask). Their main advantage is convenience and accessibility, as they allow for easy interaction with decentralized applications (dApps) and quick transactions.
However, their constant connection to the internet potentially exposes them to risks of hacking, phishing, and malware. They are therefore rather recommended for storing small amounts of cryptocurrencies intended for frequent use.
In contrast, cold wallets are offline storage devices, which makes them inherently more secure against online threats. The most common types of cold wallets are hardware wallets, such as those offered by Ledger (for example, Ledger Nano S Plus, Ledger Nano X) or Trezor. These physical devices securely store your private keys in a secure chip and sign transactions offline.
For long-term storage of your MNT tokens and for maximum security, we strongly favor and recommend the use of cold wallets, and more particularly Ledger hardware wallets.
They represent the most secure way to store your cryptocurrencies, as they minimize the exposure of your private keys to online threats.
Obtaining Mantle (MNT) tokens for free is generally difficult and requires great caution to avoid scams, which are frequent in the cryptocurrency universe. Since the rebranding of BitDAO to Mantle, direct opportunities to obtain MNT without financial consideration are limited, but here are some potential avenues, to be approached with discretion :
Beware of Scams! Be extremely wary of offers promising free MNT in exchange for personal information, sending other cryptocurrencies, or connecting your wallet to unverified sites. Mantle or its official partners will never ask for your private keys or recovery phrase.
The question of the legality of Mantle (MNT) and cryptocurrencies in general is complex and varies considerably from one jurisdiction to another across the world. There is no single answer, as the regulatory framework is still evolving. In Europe, for example, MNT is legal but subject to MiCA.
As a decentralized ecosystem comprising Mantle Network and the MNT token, Mantle operates in an innovative technological space that often outpaces legislation. Here are some points to consider :
In conclusion, while the Mantle ecosystem itself is not “illegal” in its technological concept, the use, holding, and exchange of MNT tokens are subject to the specific laws and regulations of each country. It is crucial for users and investors to stay informed about regulatory developments in their jurisdiction and to comply with their legal obligations, particularly regarding taxation.
Determining with absolute precision who holds the most Mantle (MNT) tokens is complex, as is the case for most decentralized cryptocurrencies. However, we can identify several categories of major players likely to hold significant amounts of MNT, based on the history of BitDAO and the current structure of the Mantle ecosystem.
It is possible to analyze the distribution of MNT tokens using blockchain explorers for Ethereum (for ERC-20 MNT) and for Mantle Network. These tools allow you to see the concentration of tokens in the richest addresses, although they do not reveal the identity of the owners of these addresses. The transparency of the blockchain allows for certain tracking, but the pseudonymity of holders remains a characteristic of the ecosystem.
In [current_date format=’Y’], Mantle (MNT) positions itself as an ambitious Layer 2 blockchain ecosystem with solid assets. The inheritance of BitDAO’s massive treasury gives it considerable investment and development capacity, while Mantle Network aims to provide a high-performance and modular scaling solution to Ethereum.
The emphasis on the modularity and EVM compatibility of Mantle Network are relevant technological choices to attract developers and users. If Mantle manages to build a flourishing dApp ecosystem and maintain effective governance of its treasury, its potential for influence in the Web3 space, particularly in DeFi and gaming, is significant.
Our opinion on Mantle (MNT) in 2025 is therefore positive, but conditional on its ability to develop in a highly competitive L2 environment and navigate regulatory uncertainties. For investors and users interested in Ethereum scaling solutions with a strong financial foundation and a long-term vision, Mantle represents a project worth following closely.
A finance graduate, "Grings" is passionate about the cryptocurrency market and the opportunities brought by blockchain technology. With his technical background and informative approach, he has the ability to break down complex topics into clear and accessible articles.
Mantle (MNT) is a Layer 2 blockchain ecosystem for Ethereum, launched following the rebranding of BitDAO in July 2023. The MNT token replaced BIT on a 1:1 basis and serves both governance and utility purposes within the Mantle Network.
Mantle Network is a modular Layer 2 solution that uses optimistic rollups and a separate data availability layer (MantleDA). It aims to deliver fast, low-cost transactions while leveraging Ethereum’s security.
MNT tokens can be purchased on major centralized exchanges like Bybit, as well as on select decentralized exchanges (DEXs) compatible with Ethereum and Mantle Network.
The MNT token has two core utilities: it functions as the governance token for the entire Mantle ecosystem (including its treasury) and as a utility token for paying gas fees on the Mantle Network.
Yes, BitDAO’s substantial treasury was transferred to the Mantle ecosystem. It is now managed by MNT token holders through decentralized governance to fund the development of Mantle and Web3 projects.
Investing in MNT, like any cryptocurrency, involves risks. Its future potential depends on the success of Mantle Network, ecosystem adoption, and broader market conditions. Always do your own research (DYOR).
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