Mantle Network Proposal for Staking Up to 200,000 $ETH Approved

Mantle Network Proposal for Staking Up to 200,000 $ETH Approved
Source: Mantle Network

Layer 2 network Mantle Network has passed a community proposal to stake up to 200,000 $ETH from the Mantle Treasury.

The proposal includes the establishment of the Mantle Economic Committee and authorizes a cumulative limit of up to 200,000 $ETH for staking strategies, with a separate cap of up to 40,000 $ETH for the Lido ETH staking strategy. It also involves building stETH-ETH and mntETH-ETH LP trading pairs on Ethereum L1 and Mantle L2 DEX.

Mantle Network is an Optimistic Rollup developed by BitDAO. It uses a modular design, where the core functions of blockchain operation are performed on specialized layers, aiming for lower costs and better overall performance. Previously, BitDAO passed a governance proposal, approving the one-way token conversion from $BIT to $MNT on a 1:1 basis.

Related: Mantle Network Launches Mainnet Alpha, $BIT to $MNT Conversion Open

 

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.

Source

Layer 2

In This Article

Related News
Morph CEO Cecilia Hsueh stepping down with ex-Binance exec to take over Morph CEO Cecilia Hsueh stepping down with ex-Binance exec to take over
Sony’s Soneium debuts its first music NFT collection with crypto record label Sony’s Soneium debuts its first music NFT collection with crypto record label
Corn raises $8.3 million in community funding to push Bitcoin’s use on its Ethereum Layer 2 Corn raises $8.3 million in community funding to push Bitcoin’s use on its Ethereum Layer 2
Sony’s Layer-2 Blockchain 'Soneium' Goes Live Sony’s Layer-2 Blockchain 'Soneium' Goes Live
Polkadot-based Phala Network launches Ethereum Layer 2 rollup Polkadot-based Phala Network launches Ethereum Layer 2 rollup
Latest News More More
9 Hours Ago Tether plans further Bitcoin mining expansion in South America with Adecoagro tie up
1 Day Ago North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms
1 Day Ago JPMorgan's blockchain unit tests new carbon credit tokenization application with S&P Global
4 Days Ago Ethereum community plans onchain ‘time capsule’ to mark 10th anniversary of network’s genesis block
June 25 Circle's post-IPO stock surge pushes market cap near Coinbase and USDC
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open