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Mantle: How does BitDAO's economic model transformation serve L2 development?
Written by: VIKTOR DEFI, Foxi Compiled by: Deep Tide TechFlow
Mantle Network is a second-layer blockchain incubated by the BitDAO team. Like Optimism and Arbitrum, it is also built using Optimistic Rollup technology. It also enhances network throughput and scalability through modularity, its own Data Availability layer (DA), a decentralized sequencer, and other advantages.
The benefit of this second layer is that it can share network security with the Ethereum mainnet, reduce transaction fees through modular "compressed blocks", and increase the overall throughput of on-chain transactions.
Mantle differs from other L2 solutions in that:
**1.**Modular Data Availability: By using EigenLayer, Mantle can achieve higher transaction throughput than traditional L2. Accessible data availability also means that Mantle can increase throughput without compromising security or reducing the burden on validating nodes, thereby reducing processing requirements and promoting decentralization.
2.Multi-Party Computation (MPC): Mantle uses MPC to minimize the trust risk of L2 execution results. By using Threshold Signature Scheme (TSS) technology, dedicated nodes contribute multi-party signatures to improve the correctness of off-chain transactions. This makes the challenge period for withdrawals shorter.
3. Decentralized collator: Mantle will decentralize its collator to provide secure and trustless block production. By rotating sets of permissionless orderers, Mantle will reduce the possibility of single points of failure or censorship on the network.
Relationship with BitDAO, token and its treasury
BitDAO has changed its name to Mantle and plans to build an ecosystem on top of its second-layer solution. BitDAO's $BIT tokens have been converted to $MNT tokens on a 1:1 basis.
Regarding its updated treasury and token economic model, here are some key takeaways:
$MNT token distribution?
There has been no formal discussion of macro goals or limits for $MNT token distribution. The core contributor team provided only an estimate of potential priorities.
Overall, the MIP-22 proposal discusses key aspects of the $MNT token economic model, such as token design, conversion ratios, and allocation priorities. Actual macro goals and limits will likely be determined through further governance discussions and proposals. The current focus appears to be on incentivizing users, partners, and core contributors through the distribution of $MNT tokens.
Epilogue
Mantle aims to increase transaction throughput and reduce costs by adopting multiple methods such as OptimisticRollup, EigenLayer modular data availability, multi-party computation, and a more decentralized orderer. However, the effectiveness of these solutions in practice remains to be seen. In terms of ecosystem, most of the dApps on Mantle are currently gaming-focused, with fewer DeFi or infrastructure products. The main Ethereum protocol is not yet integrated with Mantle.
Key to Mantle's success will be its ability to deliver on the technology's promise and capitalize on the growing demand for LSDFi solutions.