Mantle Network Readies Mainnet, Fueled by BitDAO Largesse

Mantle Network is preparing for its mainnet launch. Earlier last month, the Ethereum layer-2 scaling solution, and BitDAO, the team building the rollup merged, forming the Mantle ecosystem.

Timeline of Bitdao

The world's largest DAO by treasury size, BitDAO, has joined forces with Mantle, a high-performance modular L2 blockchain built on Ethereum, to establish a DAO-led web3 ecosystem called the Mantle Ecosystem. The merger combines BitDAO's existing ecosystem, products, governance, and BIT tokenomics, all under a single brand, Mantle.xyz.

Key Points: Blockworks Research tweeted on January 8 that the BitDAO token BIT has increased by 47% in the previous 14 days. For 50 days, the price is set at 2 million USDT (a total of 100 million USDT).

BitDAO, at press time, was caught between mixed reviews from its community over the latest proposal regarding token buyback program. BitDAO is one of the largest decentralized autonomous organizations (DAO) in the world and is backed by popular names like Pantera and Bybit.

The BitDAO community will soon have to agree on whether to spend $100 million from the treasury to buy back its native bit token. The post BitDAO mulls $100 million token buyback for next year appeared first on The Block.

On Wednesday, one of the world's largest decentralized autonomous organizations, Bitdao, announced the soft launch of a modular Ethereum layer two (L2) network called Mantle that claims to bolster lower fees and fast transactions. According to the Bitdao team, Mantle's public testnet is scheduled to release in 2023.

BitDAO [BIT], the token of the Bybit contribution group, dumped as much as 20% in less than two hours after Alameda Research made moves to sell-off its BIT holdings. In an unanticipated tweet, Bybit CEO, Ben Zhou, alerted the crypto industry about some concerns of the BitDAO community.

The BitDAO community is one of the most recognized decentralized autonomous organizations – known as DAOs. BitDAO carries out its operations by allocating funds to ensure the constant development of the decentralized finance (DeFi) sector.

After the Bitdao token's quickfire plunge on Nov. 7, members of the Bitdao community have asked Alameda Research to address rumors the principal trading platform has dumped Bitdao's BIT tokens.

BitDAO (BIT)suspected FTX founder Sam Bankman Fried's venture capital firm Alameda Research of breaching an agreement made in 2021 and selling its 100 million BIT tokens, causing BIT to plummet. The post BitDAO suspects Alameda of dumping BIT tokens, asks for proof of funds appeared first on CryptoSlate.

BitDAO had asked Alameda Research to provide on-chain proof that it had not sold the 100 million bit tokens it received last year. The post Alameda provides proof it holds 100 million bit tokens after BitDAO query appeared first on The Block.