Mantle is an L2 blockchain featuring a modular architecture constructed using Optimistic rollup technology. This approach has effectively delivered reduced fees, approximately 80% lower than those on Ethereum, while still inheriting the key security benefits of the primary blockchain.
Mantle’s primary objective is to establish itself as the most EVM-compatible blockchain. This entails ensuring that most contracts and tools functioning on Ethereum are also accessible on the Mantle platform. This compatibility proves to be a convenient and valuable characteristic, significantly expediting the growth of the project’s ecosystem, which currently encompasses over 150 dApps.
👉 Official links: Website | Discord | Twitter | Telegram
Mantle is a creation of BitDAO, renowned as one of the largest decentralized autonomous organizations (DAOs). This initial backing undoubtedly bestows numerous advantages upon the project.
The concept of developing a new blockchain was introduced in August 2022 and promptly garnered substantial community support. In a remarkably short period, approximately six months later, the Mantle Network was launched on the test network, followed by another six months leading to its introduction on the mainnet.
Shortly after the mainnet’s inauguration, the establishment of the EcoFund was unveiled, boasting an impressive pool of $200 million. This fund is expressly designed to bolster new projects over the ensuing three years.
It’s crucial to acknowledge that any blockchain involves a trade-off between security, scalability, and decentralization. Presently, there is no universally applicable solution to address all the challenges connected to expanding the primary network.
The objective of the Mantle Network, like any other Layer 2 (L2) project, is to deliver the optimal solution by considering current knowledge in the field and leveraging existing technologies.
Following the BIP-21 and MIP-22 votes, the community’s decision led to the merger of BitDAO and Mantle. Consequently, the new native token became $MNT.
As part of this merger, the $BIT token was delisted from all exchanges and replaced with $MNT. Ultimately, all $BIT tokens will be transitioned to $MNT.
If you still possess any remaining $BIT tokens, you can convert them on a one-to-one basis to $MNT through a dedicated website: https://migratebit.mantle-network.today. Simply input the amount of $BIT you wish to convert, and click the “Request $BIT migration” button. Please be aware that the process may take up to 24 hours to complete.
In August of this year, the project introduced the Mantle Journey campaign, offering users the chance to navigate the project’s ecosystem by accumulating “Miles” (MJ Miles).
The first Alpha season of this campaign is slated to conclude on January 15, 2024. This implies that there are still ample opportunities to earn points and qualify for rewards from the project before the season’s end.
The event itself, as well as the MJ Miles, represent a gamification process that aids users in gaining a deeper understanding of the blockchain ecosystem while highlighting its strengths. Such activities typically come with rewards, and Mantle Journey is no exception.
For the alpha season, the project has allocated 20,000,000 $MNT in rewards. Half of these rewards will be distributed to users, and the remaining half will be awarded to the top protocols. Specifically, these projects must utilize 50% of the received tokens as rewards for future Mantle Journey seasons.
Moreover, participants are promised rare NFT traits for the Citizens of Mantle collection, ecosystem rewards, access to Whitelists for new drops, and more.
In future seasons, two types of miles will be introduced instead of one:
– MJ Season Miles: Miles collected within a single season that cannot be carried over to the next.
– MJ Lifetime Miles: Miles that persist on your account across all seasons.
To engage in the campaign, you must initially mint an SBT (Soulbound Token) Mantle Journey. This token is unique, akin to an NFT, and it serves as your identification within the campaign. Soulbound tokens are firmly linked to your profile and are non-transferable between wallets.
- Go to the project website — https://journey.mantle-network.today
- Connect your wallet and add the Mantle Network
3. On the same page, find the «MINT MJSBT» button and top up the network using one of the suggested methods.
The most cost-effective method involves transferring funds from the ByBit exchange. You can purchase $MNT and send it directly to your wallet on the Mantle Network. The blockchain fees for this operation are also economical, typically around 0.001MNT, making an initial investment of $50 to $100 sufficient to cover all your planned activities.
Additionally, when interacting with any project, it is advisable to utilize the main Bridge at least once. This not only facilitates your participation but also earns you additional MJ Miles for the Mantle Journey campaign.
Step 1: Buy $MNT on ByBit and send it to your wallet in Mantle Network to pay for the bridge fee.
Step 2: If you have tokens in the Ethereum network, you can exchange them for $MNT via Uniswap. Otherwise, you can buy $MNT on ByBit and send it to your ERC20 wallet. Remember that you will need $ETH in Ethereum network. The fee will be ~$1.5–2 at current gas prices.
Step 3: Go to the website and delegate tokens to yourself to participate in votes. This is important to do at this stage to minimize costs. We will describe this process in more detail later in the text. For now, simply click the «Get Started» button, then «Self-Delegate», and then «Delegate». After that, check the change in Voting Power.
Step 4: send $MNT tokens in Mantle Network. Go to the official bridge website: https://bridge.mantle-network.today
To initiate the process, select the $MNT token and click on “Deposit Tokens to L2.” The transfer is expected to take approximately 12 minutes.
Once the $MNT tokens are in your wallet, you can proceed to mint a Mantle SBT digital identity. The associated fee will be around 0.2MNT, which translates to roughly $0.6 at the current exchange rate.
With your Mantle SBT digital identity in place, you’re now ready to delve into the core activities of the campaign, aiming to accumulate as many miles as possible before the season’s conclusion.
- Go to the profile page and link Twitter
To ensure your Twitter page is active within the anti-sybil system, follow these steps:
1. Click on “Create” and complete the process by paying a 0.2MNT fee. At this stage, you will receive a bonus of 100 miles.
2. Go to your account settings and gain an additional 20 miles by filling in your username and email address.
Please don’t be concerned if the mile counter doesn’t display the correct amount immediately. It will be updated by the end of the following day, between 00:00 UTC and 23:59 UTC.
- For each on-chain transaction, you will receive +10 MJ Miles. This includes swaps, minting NFTs, and other activities, except for deposits and transfers between networks. In this way, you can earn up to 1,000,000 miles within a single season.
- Each deposit to your account over $500 will bring you +1 MJ Miles. This includes both using the official bridge and transferring funds from another wallet. Tokens that can be transferred: ETH, USDC, USDT, wBTC, xETH and xUSD. The maximum you can earn is 300,000 miles within a single season.
- Every day you will earn +1 MJ Miles for holding 500 $MNT or $WMNT in your wallet. If you have 1000 $MNT or $WMNT, you will earn +2 miles per day. The maximum you can earn is 150,000 miles within a single season.
- For interactions with verified liquidity protocols and bridges, you will earn +20 and +50 MJ Miles.
Liquidity protocols: FusionX, Lendle, iZUMi, Reax, Gamma, MYSO Finance и AGNI. Let’s show FusionX as an example:
A) Go to the Liquidity tab — https://fusionx.finance/liquidity
B) Connect your wallet and select one of the pools:
C) We choose the USDT/WMNT pool, but we only have $MNT in our wallet. Go to the Trade tab and exchange them for the tokens you need:
If you see the following message when you click the Swap button:
You need to go to the settings and increase the slippage percentage until the transaction goes through.
In our case, 3% was enough to successfully complete the transaction. After that, add a new token to be displayed in the wallet:
D) Swap $MNT to a wrapped $WMNT in the same way:
E) To focus on earning miles, we’ll proceed with the following steps regarding the USDT/WMNT liquidity pool:
Please note that the specific values you should use are not provided in the text. Make sure to replicate the values from the screenshot you have, as they may change over time.
1. Go back to the Liquidity tab.
2. Select the USDT/WMNT pair.
3. Replicate the values displayed in the screenshot to participate in the liquidity pool.
F) To engage in the liquidity pool, follow these steps:
1. Confirm the use of each token: Enable USDT and Enable WMNT.
2. Click “Add” to contribute liquidity.
J) You can collect your tokens from the pool under the My Gamma Pools tab
All you have to do is select a pair and click the Remove button
Select the number of tokens you want to take away and click Remove again
For point 4, where you can earn miles through using approved bridges, you have several options including Orbiter, Symbiosis, Rubic Exchange, and Mantle’s Mainnet Bridge. The process for transferring funds through these bridges is similar to the official bridge, but you should choose the network with the lowest fees to save on costs. By participating in liquidity pools and transferring between networks, you have the potential to earn up to 2,000 MJ Miles.
Regarding points 5 and 6:
5. You’ll receive +100 MJ Miles for verifying each of your social media accounts. Currently, only Twitter verification is available, but Discord, Steam, and GitHub verifications will be added in the future.
6. You can earn up to +500 MJ Miles for activity on the Testnet. Transactions conducted before July 7, 2023, will be considered. If you meet the required conditions, the miles will be automatically added to your balance.
7. You can earn +20 MJ Miles for customizing your profile. You need to add a nickname and confirm your email address, which we did at the beginning.
8. You will receive +50–100 MJ Miles for voting and delegating tokens (for each event).
Delegation website: https://delegatevote.mantle-network.today
Click Get started and sign the message in the wallet:
We have 2 delegation options: via L1 and L2 network. You will receive +100 MJ Miles for each.
We click Self-Delegate or manually enter our wallet address and click L2 Delegate. This will activate your Voting Power, which will be equal to the amount of $MNT tokens in your wallet. Delegation does not lock your tokens! You will also be able to move them to another wallet or sell them, but you will lose Voting Power in the process.
After you have delegated your tokens, check the change in your Voting Power:
Similarly, we delegate tokens in the L1 network (Ethereum). For this, you will need $BIT/$MNT tokens in this network. That is why we advised you to transfer tokens to Ethereum first, then delegate them, and then transfer them to the Mantle network. For delegation in each network, you will receive +100 MJ Miles.
Now we can participate in Snapshot votes: https://snapshot.org/#/bitdao.eth
There are currently no active votes in the project, but when they appear, you will need to go to the Snapshot website, select one of the options, and vote. You will receive +50 MJ Miles for each vote.
These are all the ways we can earn MJ Miles at the moment. Try to regularly maintain activity in the network and interact with various protocols. Do not make many repetitive transactions to inflate statistics, the system may consider you a sybil and exclude you from the rewards list.
Rewards will be awarded at the end of the season, information about this will appear on the project’s Twitter and blog.
In mid-summer, the project announced a new NFT collection that will be closely linked to future activities.
Your unique Citizens of Mantle NFT will accompany you on your journey through Mantle and serve as your digital identity in the Mantle ecosystem, providing you with access that only a Citizens of Mantle companion can provide
Its main feature is that it will be dynamic. The more you interact with the project, the more opportunities you have to improve your NFT. You could get a whitelist for this collection for active participation in the test network.
Recently, on October 11, the minting of Citizens of Mantle began. If you have a whitelist, you can mint your NFT on the project website until November 11: http://journey.mantle-network.today/nft
NFT is free, you only have to pay for gas. There are a total of 100,000 NFTs in the collection, but only 20,000 are available for the first wave.
If you didn’t get on the whitelist, you still have the opportunity to get an NFT from the collection. There are currently 2 ways to do this:
- Buy an NFT on the Mintle marketplace
- Participate in the Mantle Journey campaign. It is likely that the whitelist for the next minting stage will be given to users with a certain number of miles.
Mantle Network is an interesting and promising project in our opinion, which, with the support of BitDAO, can become a serious competitor to other L2 solutions. Mantle does not have cutting-edge technical features, but the team is striving to provide users with the best experience among current L2 blockchains.
The rewards for the Mantle Journey program have been confirmed by the team. Given the weak market activity and low costs, we believe that participating in it would be a wise decision.
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