What is Mantle (MNT) crypto?

Mantle is an Ethereum layer 2 network, a blockchain that processes transactions cheaply and then settles them on Ethereum. Mantle crypto usually means its token, MNT, which pays fees on the network and carries governance votes. As of October 2026, the project describes itself as an open financial network focused on bringing real-world and capital market assets on-chain.

Where did the Mantle network come from?

Mantle began as a layer 2 funded by BitDAO, a DAO with a large treasury. In May 2023 BitDAO members approved a proposal, BIP-21, to merge the two under the Mantle name and convert the BIT token into MNT.

Bybit, the crypto exchange, was closely tied to BitDAO. It had pledged a share of its trading volume to the treasury, and after the vote its unvested BIT tokens were sent to the treasury. Blockworks reported at the time that the near-unanimous vote came from just 20 wallet addresses, a sign of how concentrated voting power was.

Mantle's mainnet went live on July 7, 2023.

How does the Mantle blockchain work?

Mantle is a rollup. It bundles transactions, executes them off Ethereum and publishes the results back to Ethereum. It started as an optimistic rollup that kept its data on a separate service, EigenDA, to cut costs.

Two upgrades changed that. On September 16, 2025 Mantle switched to OP Succinct, which uses zero-knowledge proofs to show each batch is valid. Mantle said this would shorten withdrawals to Ethereum from about seven days to about an hour. On April 16, 2026, the Arsia upgrade dropped EigenDA so that all data goes to Ethereum.

The network still has trust trade-offs. As of October 2026, L2BEAT rates Mantle at Stage 0. A single operator orders transactions, and a 6-of-14 multisig can upgrade core contracts with no delay. Users can force a transaction through Ethereum if the operator ignores them, with a delay of up to 12 hours.

What is Mantle crypto used for?

MNT has two main jobs:

• Gas. Fees on Mantle Network are paid in MNT, which L2BEAT lists as the network's gas token.
• Governance. MNT holders vote on proposals, such as grants and treasury spending, through a forum and Snapshot voting.

Mantle's other products include mETH, a liquid staking token for ether, and FBTC, a bitcoin-backed token.

Who controls the Mantle treasury?

The treasury is governed by MNT holders, and the project calls it community-owned. As of October 16, 2026, Mantle's site showed that about 72% of the treasury was held in MNT itself, with the rest mainly in ETH, BTC and stablecoins. Because so much of it is in its own token, its value moves with MNT.