Mantle
MNT#44MNT is the coin of Mantle, an Ethereum layer-2 network backed by a large DAO treasury, used to pay fees and vote in governance.
- Market cap
- $2.15B
- Volume 24h
- $35.9M
- All-time high
- —
- Circulating supply
- 3.3B of 6.22B
Passes our 8 Shariah criteria. Needs caution: business model and excessive uncertainty (gharar).
- 6 pass
- 2 caution
- 0 fail
Verdict history
- HalalCurrent
First publication
Fundamentals, market picture and news will appear here.
About Mantle
MNT is the coin of Mantle, an Ethereum layer-2 network backed by a large DAO treasury, used to pay fees and vote in governance.
Mantle is a layer-2 network for Ethereum: it runs transactions on its own chain and publishes data and proofs to Ethereum, so fees are lower. It grew out of BitDAO, a treasury organisation backed by the Bybit exchange. In May 2023 BitDAO merged with Mantle, BIT holders could convert to MNT one-to-one, and the mainnet launched on 17 July 2023. Since September 2025 Mantle has used zero-knowledge validity proofs (OP Succinct), which cut withdrawals to Ethereum from 7 days to 12 hours.
MNT is the network's gas token and its governance token: each MNT gives voting weight on Mantle proposals. About 6.22 billion MNT were issued at launch, with 49% placed in the Mantle Treasury. There is no inflation schedule and no protocol staking; the treasury releases MNT through budget proposals voted by holders. Under the MIP-22 proposal (2023), governance can approve minting at most once a year within a cap that is 0% by default.
The treasury is one of the largest in crypto: about $2.8 billion on 27 September 2026, three quarters of it in MNT itself and the rest in ETH and mETH, BTC and stablecoins. Mantle also runs mETH, a liquid ETH staking token with about $639 million locked, plus a Bitcoin bridge (Function/FBTC), an index product (MI4) and a payments app (UR).
Mantle still depends on its operators. L2BEAT rates it Stage 0: one sequencer produces all blocks, and a 6-of-14 multisig can upgrade the contracts instantly. Bybit is its main trading venue and a strategic partner, and most MNT trading happens there.
Sources · 11
- Ethereum layer 2 Mantle Network unveils mainnet alpha at EthCC (The Block)
- Mantle docs: Overview
- Mantle docs: OP Succinct mainnet upgrade and withdrawal period transition
- Mantle Governance docs: Tokenomics
- [PASSED] MIP-22: Mantle Token Design, Conversion Parameters, and Asset Handling (Mantle Forum)
- Mantle docs: Fee mechanism
- Mantle: official site (treasury dashboard)
- mETH Protocol docs: Overview
- DefiLlama API: mETH Protocol
- L2BEAT: Mantle
- Bybit API: MNTUSDT spot ticker
AI-assisted analysis checked against sources. Not a fatwa or investment advice.
What it is used for
- Paying transaction fees on the Mantle network
- Voting on Mantle governance and treasury proposals
- Using Ethereum apps on a cheaper layer-2 network
- Liquid staking of ETH through mETH
- Moving stablecoins and tokenised assets on Mantle
Market data
- Market cap
- $2.15BRank #44
- Fully diluted value
- $4.06BAt 6.22B MNT
- Volume 24h
- $35.9M1.67% of market cap
- Total supply
- 6.22B MNTIssued so far
- All-time high
- —
- All-time low
- —
- Circulating supply
- 3.3B MNT53.1% of max supply
- Max supply
- 6.22B MNTFixed by protocol
Where it trades
Section in preparation
Similar halal assets
Halal verdict, same category