The Evolution of BIT: From BitDAO to Mantle Network (MNT)
Many readers may be curious about “BIT.” To clarify, the original BIT was the governance token of the decentralized autonomous organization (DAO) BitDAO, which was founded in 2021 by the cryptocurrency exchange Bybit to drive the development of the decentralized economy.However, the cryptocurrency world is constantly evolving, and BIT underwent a major rebranding and merger in 2023.
In May 2023, BitDAO officially merged with Mantle Network.Subsequently, on July 17, 2023, when the Mantle Network mainnet launched, all existing BIT tokens were fully swapped for Mantle Network’s native token, MNT, at a 1:1 ratio. Therefore, when people refer to “BIT Coin” today, they are actually referring to its evolved form—the MNT token.
What is Mantle Network (MNT)?
Mantle Network is an innovative, modular Ethereum Layer 2 solution dedicated to addressing the scalability, high costs, and inefficiencies faced by the Ethereum mainnet. It aims to provide decentralized applications (dApps) with a low-cost, high-speed, and fully Ethereum-compatible (EVM) runtime environment.
The Core Role of the MNT Token
The MNT token plays a crucial dual role within the Mantle ecosystem:
- Gas Fee Token: MNT is used to pay for all transaction fees on the Mantle network. Due to its Layer 2 nature, these fees are significantly lower than the cost of transacting directly on the Ethereum mainnet.
- Governance Token: MNT holders have the right to participate in the governance of the Mantle network. They can influence major decisions—such as network upgrade proposals, fund allocation, and future strategic direction—through voting.
Technical Features
Mantle Network employs a range of advanced technologies to optimize its performance:
- Optimistic Rollup Technology: By batch-processing transactions off-chain and then compressing and submitting the transaction data to the Ethereum mainnet, this technology significantly reduces network congestion and transaction costs.
- Multi-Party Computation (MPC) Nodes: By leveraging MPC technology, Mantle Network is able to reduce withdrawal times—which typically take 7 days—to 1–2 days, thereby improving the liquidity of funds.
- EigenDA Data Storage: Mantle utilizes EigenDA for storage in the Data Availability Layer, further enhancing the network’s scalability and security.
MNT Token Metrics
As of this writing (July 25, 2026), the market performance of the MNT token is as follows:
- Market Capitalization: Approximately $1.42 billion.
- 24-hour trading volume: Approximately $11.47 million.
- Circulating Supply: Approximately 3.3 billion MNT.
- Historical Price: Over the past 52 weeks, MNT’s highest price was approximately $2.87, and its lowest price was approximately $0.40. The current price is approximately $0.41.
Please note that cryptocurrency market data fluctuates over time, and the figures above are for reference only.
Trading and Acquiring MNT
As a mainstream Layer 2 token, MNT can be traded on several well-known cryptocurrency exchanges. These platforms typically offer trading pairs for MNT against other cryptocurrencies (such as USDT, BTC, and ETH) or fiat currencies.
Common platforms that support MNT trading include, but are not limited to:
- Binance (Binance)
- Coinbase
- Kraken
- Bitstamp
- HTX (HTX)
- Robinhood
Users can buy or sell MNT on these platforms after registering and completing identity verification. Before making any transactions, be sure to verify the latest listing status and trading rules for MNT on your chosen trading platform.
The Mantle Ecosystem and Future Outlook
The creation of Mantle Network is strongly backed by BitDAO’s reserves exceeding $2 billion.Upon the mainnet launch, Mantle also launched a $200 million ecosystem fund aimed at attracting and incubating decentralized applications and protocols built on its network. Currently, several well-known protocols, including Pendle and Rarible, have joined the Mantle ecosystem to collectively drive its development.
Through its modular design and innovative technical solutions, Mantle Network is committed to providing a more efficient and cost-effective scaling solution for the Ethereum ecosystem, and its future development warrants continued attention.
