Mantle Network, an innovative overlay for Ethereum (ETH), recently unveiled the launch of its Alpha on the mainnet. After 6 months of successful testnet trials, Mantle Network now joins Arbitrum (ARB) and Optimism (OP) as Ethereum’s layer 2 based on Optimistic Rollups technology.
Mantle Network comes to Ethereum
Mantle Network, an overlay for the Ethereum network (ETH), has just announced the launch of its Alpha on the mainnet. Mantle joins the ranks of layer 2s built using Optimistic Rollups technology, a sector largely dominated by Arbitrum (ARB) and Optimism (OP).
The deployment of Mantle on the Ethereum mainnet follows a 6-month testnet during which the network processed more than 14 million transactions, saw the deployment of more than 140,000 smart contracts, welcomed more than 48,000 developers and saw the creation of 690,000 unique wallets.
Ethereum overlay ranking by TVL
Unlike ZK Rollups, Optimistic Rollups do not use any cryptographic proof. Optimistic Rollups currently dominate the L2 game, not least because they are easy for developers to deploy. However, as Vitalik Buterin himself stated, their validation method based on a 7-day delay is bound to present scalability problems sooner or later.
As for Mantle, its distinctive feature is its ‘multi-layer’ system, which consists of isolating execution, data and consensus in distinct layers. According to its documentation, this modular architecture enables Layer 2 to take advantage of Ethereum’s native security while offering increased performance at considerably reduced costs
Layer 2 backed by BitDAO and 200 million dollars
In May, Mantle merged with BitDAO to create a single ecosystem combining tokenomics, governance and more generally all the products offered by the 2 entities. This merger followed a vote by the BitDAO community in favour of a unified product, which will also lead to the transformation of the BIT token into a MNT token.
BitDAO is currently the largest decentralised autonomous organisation (DAO) with more than $2.33 billion. However, 65.18% of this cash is made up of its own token, the BIT.
Ranking of protocol treasuries
In addition, Mantle has announced a grant programme to encourage the development of decentralised applications (dApps) and protocols on its network. Totalling more than $200 million, the “Mantle EcoFund” will act as a venture capital fund for the various projects wishing to be developed on Mantle.
The Alpha version of Mantle was launched in the presence of leading partners in the blockchain ecosystem, including Ankr, LayerZero and The Graph. A “cutting edge” network, according to Jordi Alexander, Mantle’s strategic advisor:
“As this burgeoning space heads into L2 Summer, the flexibility offered by Mantle’s adaptive and iterative network design will keep it at the forefront of the latest technological breakthroughs for years to come.”
