Curious About $MNT? Mantle’s Public Liaison Igneus Terrenus Talks About Its Ecosystem

Amidst the complexities of the blockchain space, understanding the intricacies of decentralized governance and navigating the challenges of innovative technologies becomes paramount. In this interview, we unravel the layers of Mantle, a DAO-governed ecosystem, exploring how it addresses inherent problems in the blockchain landscape.

From the nuanced design of the $MNT token to strategies for scalable and secure blockchain networks, this conversation provides valuable insights, shedding light on potential solutions and offering a thoughtful perspective on the ongoing evolution of decentralized technologies.

1. Please briefly explain your project to our audience.

Mantle is a DAO-governed ecosystem of decentralized and token-governed technologies powered by Mantle’s native token, $MNT. Mantle Ecosystem comprises Mantle products such as the Ethereum L2, Mantle Network, Mantle Governance (DAO),  Mantle Treasury, one of the largest on-chain treasuries in web3, and Mantle LSP, an upcoming ETH liquid staking protocol. Mantle token ($MNT) is the unified product and governance token of the ecosystem. We’re pioneering a vision for a more collaborative decentralized economy to showcase the potential of tokenized governance.

2. What sets Mantle Network apart from its competitors?

Our flagship product, Mantle Network, is a high-performance EVM layer-2 blockchain built with modular architecture — separating transaction execution, data availability, and transaction finality into modules, which can be individually upgraded for building efficiency. Optimistic roll-up technology coupled with modularity allows us to create a specialized, decentralized data availability layer, MantleDA, allowing Mantle Network to inherit security from Ethereum and offer much lower fees compared to the L2 industry standard. Mantle Network is also the world’s first DAO-spawned L2 and the first L2 to partner with ETH restaking protocol EigenLayer for its data availability module.

As with any blockchain ecosystem, we’re focused on building value capture for our community while upgrading the underlying infrastructure to create the best of both user experience and utility. This includes expansion through top-tier DeFi protocols, diverse dApps, and innovative products in the RWA and LSD realm. This underscores our priorities in building ecosystem composability and a strong application layer to put the users first. We tie this together with Mantle Journey, our ecosystem engine where all users’ and protocols’ on-chain activities are indexed for future rewards. This not only builds engagement between ecosystems, projects, and users but acts as a bridge between these three stakeholders that fundamentally make up any on-chain ecosystem.

3. What are the benefits that Mantle token holders get?

The Mantle token ($MNT) is the unified token for products, governance, and treasury across the Mantle Ecosystem. Mantle token holders are provided both voting rights and practical functionality to navigate the vast Mantle Ecosystem.

In terms of governance, each $MNT token carries an equal vote weight, enabling token holders to actively participate in DAO voting and influence the decision-making process. This ensures a decentralized and community-driven approach to shaping the future of the Mantle Ecosystem.

This further extends to the governance of product decisions. Community members are encouraged to submit and contribute to soft proposals on the Mantle Forum, which serves as an avenue for discussion and feedback on the proposal prior to a snapshot vote. Submitted proposals determine the strategic direction of the Mantle Ecosystem — whether it’s the next Mantle product, governance parameters, treasury management, tokenomics, or new initiatives.

In terms of utility, $MNT is utilized for gas fees on Mantle Network. $MNT tokens can additionally serve as collateral assets for Mantle Network nodes, which further incentivizes participation and contributions to the security and stability of the network.

4. Can you share your vision for the future of Mantle?

We are pioneering a vision for the mass adoption of token-governed technologies. As we look to onboard more decentralized applications (dApps) and protocols in the future, we are also making a strategic push toward building LSDFi on Mantle with two key focus areas: sustainability and composability. We want to make Mantle the hotbed of innovation, and by using LSDs, we aim to supercharge yields and develop a highly composable ecosystem. To that end, we’ve most recently announced our entry into real-world assets (RWAs) with Ondo Finance’s USD Yield ($USDY) token, a tokenized note secured by short-term U.S. Treasuries and bank demand deposits. $USDY is also the first project of Mantle Showcase, which highlights projects’ product-market fit and Mantle community benefits.

Ultimately, it all comes down to user experience. By allowing people to be able to protect their funds and have ways to obtain a sustainable yield, all underpinned by great UI, these cumulative elements will come together to create a utility flywheel on Mantle.

On a macro level, as networks and systems become increasingly interconnected, the development of dApps within the ecosystem will contribute to a robust infrastructure for blockchain technologies to survive and thrive in today’s economy.

5. How has the recent partnership with Okapi played out? Will there be new partnerships in the future?

Our recent partnership with Okapi is focused on redefining the dApp discovery process, codified by genuine user contributions. We’re excited to see how verified attestations and authentic user reviews will drive growth for dApps on Mantle Network while giving new builders a novel way to build reputation and trust in their dApps. As Okapi is still in its private Alpha phase, it will first be deployed on Mantle Network in late November. Mantle community members will receive a myriad of benefits, including tailored authentication and verification processes, as well as the ability to share their insights and discoveries for rewards.

There will definitely be new partnerships in the future. We’re known for supporting next-generation innovators and builders via the Mantle Grants Program and Mantle EcoFund, a catalyzed capital pool of $200M invested in native applications and technology partners of Mantle Ecosystem. Mantle’s Showcase Apps program further denotes our security-first approach to bolster the tech and audit capabilities of select dApps, as well as to lend additional support and publicity. This not only grows the might of the Mantle Ecosystem but also spawns active reinvigoration of various blockchain communities that are looking to bootstrap their next big innovation.

6. How does Mantle address the blockchain trilemma?

Mantle Network actively addresses the blockchain trilemma by utilizing modular blockchain architecture for security, optimistic roll-up technology for scalability, and DAO governance for decentralization.

In order to maintain Ethereum-level security, traditional optimistic rollups must use Ethereum for data availability and as an execution layer for fraud proofs. This exposes L2 users to expensive fees and constrained throughput as subject to Ethereum’s limited data availability.

To combat this, Mantle utilizes modular blockchain architecture, wherein all core functions of blockchain operation — execution, consensus, settlement, and data availability — are performed on specialized layers. Modularity and the adoption of a separation principle result in a series of performance benefits currently difficult to achieve in other systems. Allowing each layer to specialize in its task enables many degrees of freedom in building (as opposed to hard forks) and system optimization for latency and throughput (compared to dealing with other matters like ordering the ledger).

As mentioned previously, central to blockchain scalability is the data availability problem. As EigenLayer’s first L2 network partner, we’re leveraging a decentralized data availability layer through MantleDA while using optimistic rollup technology to hyperscale performance. Both mechanisms derive security from the Ethereum mainnet. This ensures all users operate at the same level of improved security, as opposed to only validators or full nodes on L1.

Furthermore, as the world’s first DAO-led L2, we are committed to pioneering the future of a decentralized economy. Token holders determine the strategic direction of Mantle via the Mantle Governance process — whether it’s launching new product lines and initiatives, tokenomics modifications, budget allocations, course-corrective actions, organizational structuring, selecting technical architecture choices, or modifications to Governance parameters. Mantle Governance holds authority over all Mantle products and the Treasury, enabling token holders to actively participate in shaping the future of the ecosystem.