BitDAO, one of the world’s largest decentralized autonomous organizations (“DAO”), has today announced the soft launch of Mantle, the first modular Ethereum layer-2 (“L2”) solution with separate execution, finality, and data availability layers, complete with high performance and highest-possible security.
- The BitDAO community welcomes the first modular Ethereum layer-2 blockchain designed for hyperscalability
- Mantle’s modular architecture, low fees and hyperscaling performance will accelerate broader adoption of web3 technology and use cases
Mantle is the first L2 solution to combine modular architecture with the security and decentralized features of the Ethereum blockchain. For EVM (Ethereum Virtual Machine) developers, this will be a very familiar technology stack to build on, as they will be able to use the same tool chain as Ethereum to build their projects. The public testnet is slated to go live in 2023 along with a comprehensive incentive program.
Mantle aims to solve current challenges facing L2 solutions and truly enable a future-ready web3 ecosystem that will power a diverse set of projects and use cases. Early adopters will find building on Mantle much easier compared with other L2s due its superior throughput and low fees. This is made possible by using a decentralized data availability layer, e.g. EigenDA, a highly customizable and hyperscaled data availability service on EigenLayer, designed for Optimistic and ZK rollups.
“When modules of chain functions are unbundled and free to mix-and-match, permissionless innovation will give rise to use cases that have not even been imagined yet,” said Sreeram Kannan, founder of EigenLayer. “We at EigenLayer are inspired by Mantle’s iterative and modular approach. It has been a pleasure to work with the Mantle team over the past months to bring it to life.”
BitDAO: Enabling an Egalitarian Web3 Space
The BitDAO collective has been a trailblazer in blockchain innovations and web3 capacity building since its inception. Mantle’s debut epitomizes BitDAO’s ambition to champion web3 ecosystems of people, products, services, and public goods.
“The BitDAO community is creating the first layer-2 blockchain that is built using a hyperscaled modular chain approach,” said jacobc.eth, head of product for BitDAO’s Windranger Labs. “At the same time, Mantle will serve as the connective tissue for various BitDAO initiatives, such as projects from Game7, to research from EduDAO, to the ecosystem of dApps being enabled by BitDAO. Mantle is BitDAO’s demonstration to scale Ethereum and web3, enabling a whole new generation of use cases and innovations.”
Owned and accelerated by BitDAO, the Mantle network has the backing of the entire BitDAO ecosystem. Low gas fees, next generation network design and superior user experience allow the most imaginative use cases to come to life. It also stands to be the first network to adopt EIP-3074, which extends contract functionality and meta-transactions to externally owned accounts such as those of MetaMask.
“It is always time to build. This is a community that recognizes the true value of transformative technologies,” said Ben Zhou, co-founder and CEO of Bybit. “Mantle has the capability to help every builder and decision-maker get to the forefront of innovation and plug into web3 — seamlessly. The path to the promise of a decentralized future is the mass adoption of blockchain, and community-driven technological solutions like Mantle will take us there.”
Established in 2018, Bybit is one of the most resilient and transparent cryptocurrency exchanges in the world. Bybit is BitDAO’s foremost proponent and a recurring contributor to the BitDAO treasury.
A product of BitDAO, Mantle will use BIT, BitDAO’s governance token as the native gas token on the network.
Using Blockchain to Solve Blockchain’s Problems
The ability to onboard users to web3 and empower them to take part in the fast-growing decentralized economy has implications beyond BitDAO’s own development. Mantle will fast-track web3 accessibility, unlocking never-seen-before web3 use cases on a global scale.
L2 solutions are Ethereum community’s answer to the limitations of traditional layer-1 blockchain solutions, in which millions were priced out by unpredictable, and sometimes exorbitant, gas fees. Mantle is the culmination of uncompromising innovation to address the unsolved issues of L2s, technological and economical limitations on hyperscalability, and data dependency on centralized entities in existing projects.
About BitDAO
In under one year, BitDAO has become one of the largest decentralized treasuries in the world with billions in assets. Leveraging a tokenized governance system, BitDAO continues to display and execute on its open mandate to foster technologies that present entirely new ways for people to work, engage, and transact together. BitDAO’s mission is to support builders of the decentralized economy and showcase the potential of DAOs.
A primary activity of the BitDAO ecosystem is to partner with BitDAO Initiatives, like Game7, that are funded in part by the BitDAO treasury. These Initiatives consist of independent governance systems, and create aligned economic links back to the treasury itself, enabling the viral growth of more value producing AEs. To learn more, please visit: https://www.bitdao.io/
About Bybit
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions, Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR), City Esports, and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.
- For media inquiries, please contact: [email protected]
- For more information please visit: https://www.bybit.com/
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