-Can you please briefly introduce yourself and the project for us to get to know you better?
You’re welcome! hello everyone! My name is Ignius Terranus, I am the Mantle Network Coordinator and oversee partner relations at BitDAO, the two main entities in the $BIT ecosystem.
BitDAO is one of the largest DAOs in the world. We have the second largest networked inventory. It is valued at about $2.5 billion, and as of now, the Mantle Network is an EVM L2 initiative, owned and operated by the $BIT community at BitDAO!
– What are the key features for Mantle chain and what do you use as a gas fee? (What is the highlight of this chain? What do you use for gas?
Having said that, Mantle has many interesting features. You can read more of the Twitter Thread right here! : https://twitter.com/igneusterrenus/status/1630005780664713216
I’m personally most excited about Mantle’s modular architecture and the data availability layer that EigenLayer supports.
The mantle will use $BIT for gas both L 2 and L 1!
Mantle’s modular design allows us to ensure that Mantle always has the latest technology as quickly as possible — such as Lego swapping, and without the need for a backwards-incompatible hard fork such as the monolithic blockchain.
EigenLayer has enabled us to significantly reduce the cost of gas fees — for L2s, most gas fees occur when re-entering L1 — and we have also seen significant reductions in costs on Mantle Testnet, all of which can be Do so without sacrificing network security. This will have a huge impact as we are the first blockchain to work with EigenLayer and the only one to offer a realistic path for games. social network and other high frequency applications to move all their transactions over the network!
-How will the launch of this chain make BIT have more opportunity to grow? Do you think more growth as BIT is now used as gas fee? (Opening this chain will give bits a chance to grow. Can you get more? from being taken as gas)
The $BIT token is currently a governance token for BitDAO.
$BIT holders will have the right to decide on the development direction of BitDAO and how to make the most of their treasury assets. Over $600 million in BitDAO assets will be allocate to new projects such as Game7, a game valued at over $500 million, and EduDAO, a school for future innovators.
Currently, $BIT also serves as a gas, staking and growing ecosystem for the Mantle Network. Due to Mantle’s modular design, we are not only validators, but also our peers. But also as a data availability (DA) provider and sequencer with Mantle’s decentralized sequencer design!
for other blockchains They only have one centralized sequencer. This gives the project team sole control over which transactions are included in a given block. high fees All while being vulnerable to fraud, dDOS attacks, censorship, and MEV exploits. And finally there is a decentralized set of sequencers to share revenue with all sequencers. and enhanced protection against censorship and sandwich attacks.
-How many dapps out there that started to run on this chain? Will there be more ? (How many dapps are running on this chain? and will there be more in the future?)
We currently have over 100 dApps on Mantle Testnet and are aiming for 250 to 300 when mainnet launches, expected this quarter! (before the end of June)
– Is there any possibilities that Mantle chain can be one of the hottest chains? Or where are the investments and supporterss of this chain from ? (Is there a chance to grow or become a popular chain? Or investment funds, where are the sponsors from, as backups?)
We think that Mantle will lead a significant shift in the development trajectory of web3 and is the blockchain that enables the vision of a decentralized economy. It’s true.
Mantle’s operating budget has been approved by BIP-9 of Bitdao (https://snapshot.org/#/Bitdao.th/proposal/0x5E82C6EF37472717D32F246F9A29DB457EA) Locate by Bitdao Treasury (https://etherscan.io/ address/0x761f2f1951 C144801f41e9811B7DB73D).
BitDAO has early backers such as Peter Thiel, Founders Fund, Pantera, Dragonfly, Alan Howard, Bybit, Spartan, and SushiSwap. Bybit has donated over $1 billion to the BitDAO Treasury.
-Which technology has been used to build this chain to compete with other layer 2 chains like of Eth’s and others? (What technology is used to create a chain to compete with other eth’s L.2)
We don’t view other L2s as competition. rather, they are colleagues working together to develop the whole sector.
Because there are more people who are not on L2 or even on the blockchain than are already there. Interoperability is more productive and results-driven than ditches and silos the way alt-L1 does with Ethereum. Unlike alt-L1s, most L2s work together via an open source code base. and we are working together And there are great work and personal relationships with almost everyone — Optimism, Arbitrum, Polygon zkEVM, Scroll, zkSync, and many others.
That said, what we have in terms of technical edge is our modularity and our synergy with EigenLayer, as well as the conscious choices we made to decentralize our sequencer and allow for Calculate multiple parties to improve fraud proof too.
We also have advantages in our ecosystem partners such as BitDAO and Bybit, as well as new upcoming projects such as Game7, EduDAO, Sozu Haus and Yeeha Games, among others L2. There is a blockchain in the search ecosystem. We already have an ecosystem that only needs a chain to support it.
For example, a successful GameFi dApp on Mantle may be funded. technical assistance and co-marketing from Mantle, access to Game7 and Hyperplay tools, and community support. Connect with the Yeeha Games community and catch up on Bybit items quickly. This is something no other L2 blockchain can do like ours!
Bybit is the third largest crypto exchange in the world right now. The Bybit logo adorns the front wings, rear wings, sides and driver halo of the Formula One Red Bull race car. Great success or true fans who love the drink from Thailand. You must definitely see it!
-As an onwer of BIT token, do we have any rights to vote for the direction of this chain? If so, how much say do we have? (If we hold bits, can we have the right to vote on the direction of the chain? How much?)
Mantle is the first L2 owned and controlled by the DAO. $BIT holders can help make decisions on both a technical level. industry-collaboration/4699) and at the fund management level (e.g. Mantle EcoFund proposed with $200 million pooled capital: https://discourse.bitdao.io/t/discussion-mantle-ecofund/4692).
all decisions since the launch of new initiatives to the transfer and recall of treasury resources. Assigning and modifying the authority to the operations team. and corrective action It will be based on proposals and votes by $BIT token holders.
-Are there anything more about the Mantle chain that you wanna tell our community? (Is there anything else about the Mantle chain that you’d like to tell our community?)
We have achieved a lot and learned a lot since Mantle Testnet launched on January 10, 2023.
We are currently entering the second phase of Testnet and aim to have the Mainnet ready by June. Our team recently organized Hakathon and workshop in Chiang Mai. and will visit Berkeley, Austin, Lisbon, Podgorica, Warsaw and Belgrade next month or so.
We already have a number of grant programs supporting dApps in various stages of development, with the top tier offering up to an upcoming $100,000 Mantle EcoFund with a total grant of $200 million if voted by the community. BIT will invest in pre-seed, seed and Series A projects at an average ticket size of $500,000 and up to $2m.
We are extremely happy and excited to introduce Mantle to Launchpad and make Mantle Mainnet available to everyone. Developers, users, and hundreds of millions more can join blockchain and Web3 with this revolutionary hyper-modular L2.