One of the biggest decentralized autonomous organizations (DAOs) in the world, BitDAO, has announced the soft launch of Mantle, its first L2 solution on 30 Nov. Ethereum L2 Network Mantle combines the security and decentralization features of the Ethereum blockchain with modular architecture.
Developers of EVM (Ethereum Virtual Machine) projects will be quite familiar with this technical stack as they use the same toolchain as Ethereum to construct their products. Incentives in full effect as well as the public test net's debut are anticipated for 2023.
With billions of dollars in assets, BitDAO has grown to be one of the biggest decentralized treasuries in the world in less than a year. BitDAO continues to demonstrate and carry out its open mandate to nurture technologies that enable whole new ways for people to work, engage, and transact together by utilizing a tokenized governance structure. The goal of BitDAO is to promote the potential of DAOs and aid in the construction of a decentralized economy.
According to Ben Zhou, co-founder, and CEO of Bybit “It is always time to build. This is a community that recognizes the true value of transformative technologies.”
He further added that
“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.”
Features of Bitdao’s "Ethereum L2 Network Mantle"
In order to actually allow a web3 environment that is suited for the future and supports a wide variety of applications and use cases, the L2 approach aims to address the issues affecting alternatives. Because of Mantle's higher throughput and lower costs compared to competing L2s, early adopters will find it simpler to build atop Mantle. Implementing a decentralized data availability layer, such as EigenDA, which is designed for Optimistic and ZK rollups and is incredibly adaptable and hyperscaled, makes this achievable.
Low gas prices, next-generation network architecture, and improved user experiences enable the most innovative use cases. It might be the first network to implement EIP-3074, which enables access to contract functionality and meta-transactions for externally owned accounts like those of MetaMask.
According to the jacobc.eth, head of product for BitDAO’s Windranger Labs
“Mantle will serve as the connective tissue for various BitDAO initiatives, such as projects from Game7, research from EduDAO, to the ecosystem of dApps being enabled by BitDAO. The mantle is BitDAO’s demonstration to scale Ethereum and web3, enabling a whole new generation of use cases and innovations.”
The mantle is marketed as having better overall performance than other tier 2 networks now in use, faster transaction speeds, and lower costs. In particular, the BIT token from BitDAO will be used to pay the Mantle transaction fee. Mantle also receives assistance from EigenLayer, a developer of information availability, which enables jobs to incorporate both the Optimistic Rollup and the zk-Rollup in this place. Mantle will fast enable tasks to be implemented right here in 2023, giving platforms that BitDAO has invested in and incubated priority.
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