Mantle (MNT) is among the first hyper-performance L2 scaling solutions. The network integrates a developer-friendly design, optimistic roll-up tech, and other advanced tech to provide a scalable solution to the market. Here’s everything you need to know about Mantle.
What Problems Does Mantle (MNT) Attempt to Fix?
Mantle seeks to resolve many issues that have caused Dapp developers and blockchain headaches in the past. For one, the network has a strong focus on security. It’s one of the first L2 scaling solutions to provide enterprise-grade security and high performance. To accomplish this task, the network leverages Ethereum-proven security protocols while enabling L2 scalability.
Source – Mantle
Notably, Ethereum is the largest and most popular DeFi and Dapp ecosystem. As such, it has been battle-tested and tried to ensure its security. Mantle integrates this established security, adding performance and programmability.
High Gas Fees
Gas fees are a common way that decentralized networks pay network nodes for completed tasks such as executing smart contracts or transactions. These fees can add up when you have a lot of mainnet congestion. Mantle reduces congestion and provides low fees, making it the ideal solution for Dapps and token issuance.
Slow Transactions
Network congestion causes transaction delays. For certain applications, a delay in transaction finality is unacceptable. Mantle introduces hyperscale technology, combining optimistic roll-up with a data layer to support additional transaction throughput across the network.
Benefits of Mantle (MNT)
There are many reasons why Mantle continues to gain new users and developers. The network is EVM-compatible, so Ethereum developers can migrate their platforms to Mantle seamlessly. This maneuver lowers gas fees and improves user performance. Additionally, integrating a Multi-Party Computation (MPC) method introduces the Threshold Signature Scheme (TSS) as a secure way to authorize transactions.
Added Privacy
Mantel supports Zero Knowledge Rollups. This technology enables blockchain transactions without revealing specific details of the transaction between parties. This structure has proven to make transactions harder to track while improving their performance.
How Does Mantle (MNT) Work?
Mantle introduces a proprietary modular design. This structure divides the network nodes into separate tasks. For Example, some nodes handle settlement, consensus, and data availability. This approach enables developers to easily integrate, upgrade, or sap out features to improve performance.
Rollups
The Mantle blockchain gains a performance advantage by integrating both optimistic and ZK roll-up tech. Rollup technology helps blockchains scale vertically by creating off-chain storage and computation points. Additionally, batch transactions make these options faster than mainnet solutions.
Mantle DA
The Mantle Data Layer is powered by EigenDA technology. It operates as a decentralized data availability layer that resides off-chain. This data can be accessed when needed. Additionally, it can be scaled vertically to meet the needs of the network as the community expands without adding congestion to the mainnet.
AssetMantle
AssetMantle is one of the main features of the Mantle network. This feature focuses on NFT (non-fungible token) users. It provides access to a variety of tools that allow creators and collectors to issue, trade, and explore NFT collections. AssetMantle includes a high-performance marketplace that allows users to review, validate, and trade safely.
Mantle Treasury
The Mantle Treasury is a community-funded smart contract. A portion of all fees collected goes to fund the Mantle Treasury, whose main purpose is to fund market upkeep, future upgrades, and approved community proposals.
Liquidity Staking Protocol (LSP)
Mantle users gain access to a powerful liquid staking protocol. Liquid staking options operate similarly to traditional staking options with the main difference being that users get issued an LP token that represents their staked asset. They can trade, restake, or farm this token to improve ROIs and capital efficiency. Specifically, users stake ETH and receive mETH (Mantle Stacked Ether).
Token – MNT
The main utility token used by Mantle is MNT. This flexible digital asset can cover fee payments, be used to create dapps, execute smart contracts, create NFTs, and more. It is a limited supply token with 6,219,316,795 tokens scheduled for issuance over the project’s life.
mETH
Users who stake ETH receive yield-bearing mETH of an equivalent value. This ERC-20-compliant token can be used within the Ethereum ecosystem for further returns. Once your staking period ends, you deposit your mETH to unlock your original staked ETH and rewards.
Consensus
Mantle uses the Ethereum PoS (Proof-of-Stake) consensus algorithm. Unlike its original consensus mechanism, which relied on miners competing to validate transactions, PoS systems enable users to simply stake their tokens to secure rewards. As such, this method eliminates the need for expensive rigs and opens the door for more user participation in the validation process.
Governance
Anyone who holds MNT tokens can stake them and gain access to the community governance ecosystem. here, you can create and put forth proposals for community vote. These proposals can include fee changes, new features, partnerships, and protocol upgrades. Each MNT token holder holds the same weight in the voting process. Notably, if your proposal is voted in, the Mantle treasury will fund the upgrade.
History
Mantle entered the market in May 2023 as BitDAO. The platform launched its mainnet in July 2023 before rebranding to Mantle. Notably, the Mantle development team includes 25 highly skilled developers, including Arjun Krishan Kalsy. The platform’s accomplished development team helped the project secure strategic partnerships with ByBit and BitDAO. This partnership provides Mantle with access to a plethora of resources and expertise.
How to Buy Mantle (MNT)
Currently, Mantle (MNT) is available for purchase on the following exchanges.
Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.
Uphold Disclaimer: Terms Apply. Cryptoassets are highly volatile. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.
Kraken – Founded in 2011, Kraken is one of the most trusted names in the industry, with over 9,000,000 users and over $207 billion in quarterly trading volume.
Kraken exchange offers trading access to over 190 countries, including Australia, Canada, and Europe, and is our most recommended exchange for USA residents. (Excluding New York & Washington state)
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. Restrictions may apply, depending on location.
Mantle (MNT) – A DeFi L2 with Rollup Tech Designed to Win
Mantle has everything you need to create a fast and responsive Dapp to serve the Ethereum community. The project continues to expand its resources and offerings, making it a strong contender in the EVM L2 market. For now, Mantle is positioned to provide enterprise-level clientele with secure L2 solutions.
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