TL;DR
It’s been some time now since the BitDAO project launched Mantle Network. Regarded as the scalable layer2 for Ethereum. It can be hard to tell if this type of technology is still even relevant. Keeping in mind that when Mantle first launched it was necessary to have an Ethereum sidechain to operate basic functions unimpeded. But how about now, after Ethereum has undergone several upgrades that might appear to make some of these networks look obsolete? That’s part of what’ll be discussed in today’s topic about Mantle. How scalable is it and how much time is left on the clock before it could potentially be obsolete?
Not many protocols can ride the narrative super train in the way that Mantle has. Initially launched by the ByBit Exchange, the BitDAO project is a direct reflection of that time in the market. DAO’s were all the craze before NFTs started taking over. With many of these DAO-structured projects being the first examples of decentralized finance. Smart contracts were finally getting utilized and heady days were ahead for all of us rooting ourselves deeper into the Ethereum ecosystem. But, the tides change quickly in crypto. With the hottest thing in 2021, being just barely an afterthought in 2025. For what it’s worth, Mantle was able to anticipate this shift and pivot from a DAO to a Layer2 network within just a couple of years. Keeping up with the curve and buying themselves a pass to remain a relevant protocol.
Transition of BitDAO to Mantle
Originally established as a think tank to deploy initiatives, BitDAO’s primary focus has always been to create products that rely on the use and expansion of the BIT token. As time progressed on the BitDAO journey certain limitations caused by the Ethereum Network it called home kept preventing BitDAO from reaching this goal. Originally, Mantle was launched as an accelerant for BitDAO and a separate entity from the DAO’s governance and control. Eventually, this became a problem and BitDAO called for a vote to decide how to move forward.
After very little debate the direction was clear. Merge BitDAO with Mantle to optimize the brand and direction for the future of Mantle. Applying a “One brand, One token” principle. The reason this proposal was such a hit with the BitDAO community is due to the way it seamlessly allowed BIT holders to swap for MNT at a rate of 1:1. Making it clear that BitDAO did not want to devalue any of its investors and complete a fair swap into the primary brand moving forward.
Combined with the fact that BitDAO had an estimated $3.2 billion in total value captured by its BIT token. Bybit management provided no real benefits to Bybit users. The launch and migration from a simple token on Ethereum to a Layer2 Network was definitely in order. At the time, a growing demand for Ethereum scalability was the main topic of conversation. Making the decision to launch its own Layer2 an easy one to make. However, as pointed out, this was more than a change in names. The transition to Mantle indicated a clear shift in focus from a simple DAO, to a robust and expansive ecosystem capable of delivering cost-effective, scalable, and user-friendly DeFi solutions. Making BitDAO’s Treasury part of Mantle’s Ecosystem instead of the other way around.
The Mantle Architecture
Head of Research Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin. As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom. “The swarm is headed towards us” -Satoshi Nakamoto
