Mantle Milestones: Q2 2023 in a Gist
06/30/237 min read
Time flies when you're sprinting in the supercharged blockchain race — Mantle Network has been live on testnet for almost six months and counting! If you've been keeping up with Mantle, you will have seen pivotal changes, growth and improvements for the brand, ecosystem and innovative builds on the network since our last quarterly roundup. All of these together will set the stage for Mantle Network Mainnet, which we hope to unveil completely sometime in the next quarter. In case you missed out on some of our key moments in recent months, here's a summary of all that you need to know.
Testnet On-Chain Summary
Looking back to when testnet first launched, we've certainly made significant progress since block number one. We've gone from testnet phase one "Wadsley" to testnet phase two "Ringwood", onboarding multiple new builders and supporting the freshly-minted builds across NFT, gaming, infrastructure, tooling, UX and DeFi categories.
Zooming in on the current Ringwood testnet phase, we have:
Integrated Mantle DA as powered by EigenDA technology for the network's data availability layer
Successfully onboarded MPC & DA nodes
Commenced fraud proof integration
Visible reduction of up to 70% in gas fees for layer 2 (L2) transactions compared to on-chain layer 1 (L1)
We are currently in the midst of audits for Mantle Network, and are stoked to see our community of developers growing by the day. Here are some important network performance numbers since the launch of testnet in January 2023:
Total Transaction Count
Unique Smart Contracts
Unique Addresses That Have Deployed Contracts
A Unified Mantle for the Future
The biggest highlight for Mantle this quarter would undeniably be the Mantle-BitDAO rebranding, which would see the complete merger of both brands under the all-encompassing Mantle Ecosystem. Our community has shown overwhelming support for this initiative as we work towards the goal of unifying communities, messaging and mind-share between Mantle Network (and future Mantle products) and governance under Mantle. BIP-21, the corresponding proposal that went up on BitDAO Snapshot for a vote, saw one of the largest numbers of voters participating in this decision-making process.
If you're not familiar just yet, check out the overview of changes in nomenclature. Some have already been mentioned in recent communications, and others will formally be implemented soon.
In line with these changes, migrating from BitDAO-related websites and socials will gradually occur. For example, the BitDAO discussion forum has made way for the Mantle discussion forum, where all discussion topics will be published going forward. Soon on the migration list would be BitDAO Snapshot, delegation and socials.
$BIT Out, $MNT In
As a part of the rebranding, we introduced the new Mantle token, $MNT, to replace $BIT. When $BIT was first created, it was largely meant for use in governance, so with the merger, there was a need to create a token that would have expanded functionalities and use cases. The success of BIP-21 pushed the creation of $MNT into motion, and was subsequently followed by MIP-22, a proposal that detailed the token design, conversion parameters and more.
$MNT is an ERC-20 token that will be both a governance token and a utility token for Mantle-owned products. On Mantle Network, Mantle's flagship product, $MNT can be used to pay for gas fees and staking for node participation. In the future, with other products potentially in the pipeline, the new $MNT token affords Mantle and its community the flexibility to design the underlying structure of unique and innovative products.
$MNT conversion channels can be found via selected approved centralized exchanges, and can also be converted via a layer 1 conversion smart contract (L1CSC)
In the Works
Deployment of the $MNT token on Mantle Network Testnet and Mainnet
Subsequent exchange listings of $MNT are in discussion and will be confirmed at a later date
Refer to MIP-22 for more details and stay updated on $MNT via our socials.
83 Projects Live on Testnet
Mantle Network began its journey with a solid ecosystem of core collaborators, including Mantle Ecosystem (previously BitDAO) initiatives Game7, HyperPlay, EduDAO and Sozu Haus amongst others, and also EigenLayer. We've since partnered and collaborated with multiple outstanding teams across multiple pillars — all to bring our developers and users the best of what web3 has to offer.
Some notable integrations and dApps include Ankr, Bullieverse, Clique, Covalent, FusionX, Good Games Guild, Izumi, Particle Network, Pyth, Space Falcon, The Graph, Thirdweb and zkMe, just to name a few. There are a total of 83 core projects live on testnet currently, with plenty more upcoming in the announcements pipeline. We're looking forward to building even more sustainable relationships with the best web3 innovators in 2023.
Tracking Mantle Across the Globe
Mantle had a presence at 15 events this quarter, including ETHGlobal Lisbon, EDCON Montenegro, ETHPrague, Crypto Expo Asia, DAOPalace, ZK Week, ETHGlobal Tokyo and more.
We've also collaborated with multiple hackathon organizers and event teams such as Encode Club, Antalpha Labs and ETHGlobal to bring the biggest building events to developers who are interested in building on Mantle Network. This quarter alone, we received a total of 292 amazing submissions for diverse decentralized apps (dApps) built on Mantle Network across multiple events.
Kicking Off Blockchain Summer in Paris
Next, Mantle's community and partners can catch us IRL in Paris from July 15, 2023 to July 23, 2023 across multiple events, including EthCC, ETHGlobal Paris, Stable Summit and Modular Summit. We're co-hosting a Sozu Haus Hacker House there too, and there'll be plenty of fun-filled meetups for games, great conversations and building.
What's Next: Gateway to a New Mantle Ecosystem
We can't reveal just yet what's to come in the coming months, but we started off with a sneak peek on Twitter, as we prepare to unveil an expedition to a freshly-minted Mantle Ecosystem.
Rounding Up This Quarter With Mantle Pepes
Pepe took over Mantle's social feeds this quarter — signing off with our very best Mantle Pepes as we await the arrival of Mantle Network Mainnet.