Mantle

Mantle grew out of BitDAO, which merged its governance and treasury with the network in May 2023; mainnet alpha launched on 17 July 2023. The network moved to a ZK validity rollup with the OP Succinct upgrade from 16 September 2025, cutting the withdrawal period from 7 days to 12 hours, and has announced a move of data from EigenDA to Ethereum blobs. Bybit backed BitDAO, its co-founder Ben Zhou is described as an adviser, and Mantle lists Bybit as a strategic partner. Data on the named core team is insufficient.

• Ethereum layer 2 Mantle Network unveils mainnet alpha at EthCC (The Block)
• Mantle docs: OP Succinct mainnet upgrade and withdrawal period transition
• Mantle docs: Migration of data availability to Ethereum blobs
• Mantle: official site (strategic partners)

Mantle's treasury showed about $2.80 billion on 27 September 2026, of which 75.21% was MNT and the rest ETH and staked ETH, BTC and stablecoins. Treasury MNT is not counted as circulating and moves only through holder-voted budget proposals. Bybit is the main MNT market, and Binance listed no MNT/USDT market on 27 September 2026. Data on funds, exchange-traded products or regulated holders is insufficient. MNT is on the National Bank of Kazakhstan's list of authorised digital assets of 30 April 2026.

• Mantle Governance docs: Tokenomics
• Bybit API: MNTUSDT spot ticker
• List of authorized unsecured digital assets (National Bank of Kazakhstan)

MNT's supply of about 6.22 billion was set at the July 2023 conversion from BIT, with 49% in the Mantle Treasury and 51% in circulation; about 3.30 billion, or 53%, circulated on 27 September 2026. There is no issuance schedule. The token keeps a mint function: governance may allow a once-a-year mint up to a cap that defaults to 0%, and the token is upgradable by Mantle Governance. Fees are paid in MNT, but the docs describe no fee burn. MNT has no protocol staking.

• [PASSED] MIP-22: Mantle Token Design, Conversion Parameters, and Asset Handling (Mantle Forum)
• Mantle (MNT): CoinGecko API
• Mantle docs: Fee mechanism

L2BEAT rated Mantle Stage 0 on 27 September 2026: one operator proposes blocks, and a 6-of-14 multisig can upgrade contracts instantly with no exit window. It showed about $1.51 billion of value secured. DefiLlama listed about $723 million in Bybit wallets on Mantle against about $197 million in non-exchange protocols, of which about $99 million counts as chain DeFi TVL by DefiLlama's default count. Over 30 days chain fees were about $1.28 million and DEX volume about $75 million, with about $551 million of stablecoins on the chain. mETH Protocol held about $639 million on Ethereum.

• L2BEAT: Mantle
• DefiLlama API: protocols
• DefiLlama API: Mantle fees overview
• DefiLlama: stablecoins by chain
• DefiLlama API: mETH Protocol