Mantle (MNT)

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Decentralized Applications (dApps)

Mantle is mainly used to power decentralized applications by providing a fast, low-cost blockchain environment compatible with Ethereum. Developers can deploy smart contracts and build dApps efficiently.

Transaction Fees and Network Operations

The MNT token is used to pay for gas fees (transaction costs) on the Mantle network, helping users and developers interact with the blockchain smoothly.

Governance

MNT holders can participate in governance by voting on proposals that affect the network’s development and management.

Asset and Data Movement

Mantle supports transferring assets and data between blockchains, enabling interoperability and integration with centralized exchanges and custom bridges.

Ecosystem Growth

Mantle has allocated funds to support early-stage dApp development, encouraging innovation in sectors like DeFi, gaming, and metaverse projects.

Scalability and Efficiency

As an Ethereum Layer 2 solution, Mantle improves scalability and reduces transaction costs using optimistic rollups and advanced data storage techniques, making blockchain use more accessible.

Pros

• Scalability: Mantle improves Ethereum’s transaction speed by using Layer 2 technology, allowing more transactions to happen quickly.
• Low Fees: It offers lower gas fees compared to Ethereum mainnet and some other Layer 2 solutions.
• Ethereum Compatibility: Mantle is fully compatible with Ethereum, making it easy for developers to build and migrate dApps.
• Modular Design: Separates consensus, execution, and data availability into layers, improving efficiency.
• Growing Ecosystem: With a large treasury and expanding partnerships, Mantle is positioned for ongoing development and adoption.

Cons

• New and Unproven: As a relatively new project (launched in 2023), it has less track record compared to older Layer 2 solutions.
• Competition: Faces strong competition from other Layer 2 networks like Optimism and Arbitrum.
• Dependence on Ethereum: Its performance is still linked to Ethereum’s base layer, so any issues on Ethereum can affect Mantle.
• Centralization Concerns: Some users worry about potential centralization aspects in its early stages.

Overall, Mantle offers promising speed and cost benefits for Ethereum users but is still growing and competing in a crowded space.

Founders

Mantle was created by BitDAO, whose founders are Ben Zhou and Daniel Yan. Ben Zhou is a serial entrepreneur and former forex trader, while Daniel Yan is a former hedge fund manager and fintech co-founder.

Leadership

Pascal Leblanc is the founder, CEO, and CTO of Mantle Technologies, a company related to Mantle, known for his background in computer science and blockchain strategy.

Summary

• BitDAO founders: Ben Zhou and Daniel Yan
• Mantle Technologies founder and CEO: Pascal Leblanc

Institutional Investors

Mantle has backing from major institutional investors including Bybit, a large centralized crypto exchange that was the largest investor in the early stages. The Mantle Treasury itself holds a significant portion of tokens and acts as a major anchor investor, committing up to $400 million in projects like the Mantle Index Four Fund (MI4).

Venture Capital Firms

Some well-known crypto venture capital firms such as Pantera Capital have invested in Mantle, supporting its development and growth.

Decentralized Autonomous Organization (DAO)

Mantle was originally developed by BitDAO, one of the largest DAOs, which provided substantial funding and governance support. The DAO structure allows community participation in decision-making and funding allocation.

Strategic Partners

Mantle has partnerships with tokenization platforms like Securitize, which help launch institutional-grade funds and bring more professional investors into the ecosystem.

In summary, Mantle’s investors include centralized exchanges like Bybit, crypto venture capital firms like Pantera Capital, the Mantle Treasury itself, and decentralized governance through BitDAO.

Halal Status of Mantle

Yes, Mantle is generally considered halal. It is a Layer 2 Ethereum scaling solution designed to improve transaction speed and reduce costs without involving interest (riba) or gambling (maysir), which are prohibited in Islamic finance. Several Islamic finance sources have screened Mantle and found it compliant with Shariah principles due to its utility and transparent technology.

Reasoning

• Mantle operates as a digital currency and blockchain technology platform, not involving prohibited financial activities.
• It has been audited and verified for legitimacy and proper function.
• It supports decentralized applications without interest-based or speculative mechanisms.

This makes Mantle suitable for Muslim investors seeking Shariah-compliant crypto options.