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Mantle Network (MNT) is one of the leading Ethereum (ETH) Layer 2 solutions, designed to deliver scalability and cost efficiencies that aren’t available when transacting directly on Layer 1s. The platform’s native cryptocurrency, the MNT token, is the backbone of the Mantle ecosystem. Launched in 2023 after the rebrand of BitDAO (BIT) to Mantle, MNT serves a dual role as both a governance and utility token.
In addition to powering transactions and governance within Mantle, MNT has a range of applications within centralized finance (CeFi) and decentralized finance (DeFi). On Bybit, the world’s second-largest crypto exchange, MNT’s uses include spot and perpetual futures swaps, earning passive income through the Bybit Card and Bybit Earn programs, and access to new tokens through Launchpool and Megadrop.
In this article, we’ll take a detailed look at the MNT token, a cryptocurrency that has evolved well beyond simply being an asset to support blockchain transactions.
Key Takeaways:
MNT is a governance and utility token of the Mantle Network’s Layer 2 ecosystem.
It has a wide range of utilities and use cases across both centralized and decentralized crypto platforms, including diverse options for spot and perpetual trading, lending solutions, liquidity solutions and Ce-DeFi yield-generating products.
Mantle Network's road map is aligned with its goal of establishing itself as the liquidity chain by onboarding new high quality RWAs and connecting cross-chain solutions.