What is Mantle Network? Information About MNT Token

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What is Mantle Network (MNT)?

Mantle Network is a layer-2 blockchain layer on the Ethereum platform, developed by BitDAO – one of the largest decentralized autonomous organizations on the market. Through the use of Optimistic Rollups technology, Mantle Network is able to process transactions quickly, while improving security and reducing costs.

Minterest website: https://www.minterest.com/

Mantle’s special strength lies in its focus on developing towards Modular Blockchain. This provides the flexibility to handle independent tasks, creating a large block space and minimizing validation by focusing on specific small parts. Thanks to this mechanism, Mantle’s information processing ability is significantly enhanced.

Minterest highlights

Minterest is built on the Moonbeam ecosystem, an Ethereum-compatible blockchain on Polkadot. With the flexibility of Moonbeam and the power of Polkadot, Minterest aims to provide a smooth user experience, low fees, low network latency, and access to Polkadot Network’s cross-chain bridge. At the same time, Minterest allows access to diverse assets in the Polkadot ecosystem and leverages the network effects of Moonbeam and Polkadot to enhance liquidity.

With Moonbeam being fully EVM compatible, the Minterest core is built using smart contracts with the Solidity language, making it compatible with any other EVM compatible blockchain.

Additionally, Minterest is releasing 3000 NFTs in 12 different rarity levels. NFT rarity affects the number of copies, Emission Boost, and validity period. Participants in the Minterest Next Level public token sale have the opportunity to receive Minterest NFTs, with the amount of NFTs depending on the ratio of MNT token purchases in USD during the Next Level LBP Token event compared to other participants.

Detailed information about MNT Token

Key Metrics

Token Name: Minterest Token
Ticker: MNT
Blockchain: Moonbeam Network
Token Standard: ERC-20
Contract: Updating…
Token Type: Utility
Total Supply: 6,219,316,795 Tokens
Circulating Supply: 3,126,673,946 Tokens

Benefits of holding MNT Token

MNT is the governance token of Minterest. MNT holders have the opportunity to participate in the MNT Buyback feature, an important element of Minterest’s design.

The MNT Buyback process goes as follows:

Accumulation of fees:

All remaining assets after liquidation are converted to stablecoins and stored in the Preliminary Treasury.
Surplus obtained from interest rate differentials for Minterest’s various token markets is stored directly in these pools and then extracted and redeemed for stablecoins.

Exchange assets with MNT token:

Stablecoins accumulated in the Preliminary Treasury can be redeemed for MNT tokens on the market.
The goal is to reduce stablecoin holdings and accumulate more MNT tokens in the Treasury.

Allocation:

Each month, a percentage of all fees accumulated in the Treasury are transferred to Buyback for distribution.
MNT is distributed to users participating in the protocol’s governance processes, based on the amount of MNT staked and the length of time MNT has been staked, called MNT Loyalty Rewards.

The Emission Reward rate for each user is determined by the relative percentage of MNT they have staked, plus a Loyalty Reward adjustment based on the length of time they have staked MNT. When the Minterest protocol distributes Buyback rewards, each user’s rate will be adjusted to take into account the Loyalty Reward.

MNT Token Allocation

Community: 50.03% (50,032,400 MNT)
Team: 21.52% (21,517,000 MNT)
Private/Pre-Sale: 12.50% (12,501,000 MNT)
LBP Distribution: 5.00% (5,000,500 MNT)
Ecosystem: 4.50% (4,499,800 MNT)
Market Making: 3.00% (3,000,000 MNT)
Strategic Partners: 2.45% (2,449,250 MNT)
Marketing: 1.00% (1,000,000 MNT)

MNT Token Release Schedule

Project team, investors & partners of Mantle Network

Project team Mantle Network

Investors & Partners

Roadmaps & Updates Mantle Network

The project has deployed and introduced features and tokens. Expected plans for 2021 have been completed. Currently, there is no specific information about expected plans in 2022. We will update the latest information to the community as soon as there are new developments.

Conclude

Through the overview article about the Mantle Network (MNT) project above, azc.news hopes readers will grasp basic information about this project to make their own investment decisions. Wishing you a successful investment!