BitDAO Unveils Layer-2 Solution for Ethereum: Mantle

BitDAO, a decentralized autonomous organization with assets totaling $1.7 billion, has announced the launch of Mantle, a new layer-2 network for Ethereum.

On the evening of November 30th, BitDAO, a DAO backed by the Bybit exchange, revealed the launch of Mantle, a layer-2 solution built on Ethereum.

Mantle is designed as a modular layer-2 solution. Unlike traditional blockchains that operate on a single protocol layer, modular blockchains separate the consensus layer, transaction execution and settlement layer, and data storage layer. This modular design aims to enhance scalability and operational efficiency of the blockchain.

Learn More: Monolithic Blockchain vs. Modular Blockchain

According to BitDAO, Mantle will incorporate these three functional layers.

A representative from BitDAO stated:

“BitDAO aims to refocus attention on Ethereum’s layer-2 solutions and provide users with the best that Web3, DeFi, and GameFi have to offer.”

Mantle is touted to outperform existing layer-2 networks with superior performance, faster transaction speeds, and lower fees. Notably, transaction fees on Mantle will be paid using BitDAO’s BIT token.

Mantle also benefits from support by EigenLayer, a data availability developer, which will enable projects to integrate both Optimistic Rollups and zk-Rollups.

Learn More: Interchains

Projects will be able to deploy on Mantle in 2023, with a focus on platforms incubated and invested in by BitDAO.

BitDAO representatives affirmed:

“Mantle will serve as a bridge between various BitDAO initiatives, such as Game7 projects, EduDAO research, and dApps supported by BitDAO. Mantle will act as a solution to expand Ethereum, bringing a new wave of utility and innovation.”

Following the announcement of the Mantle layer-2 solution, the BIT token of BitDAO has seen a slight increase.

BIT Price Movement: 7-Day Chart (Data from CoinMarketCap as of 8:30 PM, November 30, 2022)