Key Points:
The voting ended today with the current support rate is 100% and has reached the minimum number of votes for voting to take effect.
According to the proposal, the Mantle token MNT should contain “upgradability” and “mint” functions similar to ARB and OP tokens. The one-way token conversion ratio should be set as 1 BIT token to 1 MNT token.
The Mantle core contributor team should be authorized to determine the best time and sequence for the delisting of BIT tokens, the listing of MNT tokens, the opening of the conversion channel, and the main network of the Mantle network. According to the intention of BIP-10, the earnings of the deconstructed BIT-ETH pool can be used to create a DEX liquidity pool of MNT-ETH. A Temporary Transformation Library (TCT) can be established to support the token creation and transformation process.
Before the BIT to MNT conversion channel runs, the following work will be done in parallel:
Previously, the optimization proposal of the BitDAO community on branding, tokens, and token economics has been approved, with 235 million BIT votes in favor and 998 BIT votes in opposition. It is reported that the proposal proposes to position mantle.xyz as a unified ecosystem brand in accordance with the principle of “one brand, one token.”
The existing Rollup project will be called Mantle Network, centered on products, and BIT Convert to Mantle set the token conversion plan and conversion period. At the same time, retain all existing governance processes, simplify token economics, and prepare for the Mantle Network mainnet and token listing.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Dive into the week's top crypto news: MT Gox, Bitcoin adoption, and Aptos' achievement. Get…
Matter Labs trademark applications for "ZK" have been withdrawn after backlash from the ZK community.
The surge in Notcoin network transactions is attributed to its easy gameplay and the recent…
Port Charlotte, United States, 2nd June 2024, Chainwire
Linea Blockchain experienced a temporary block production halt during the Velocore hack, but operations have…
Pierce, who initially co-founded Tether in Hong Kong a decade ago, expressed enthusiasm for the…
This website uses cookies.