BitDAO is a very familiar coin for those who trade on Bybit. In 2023 the coin will be rebranded under the name Mantle. 2023 Bybit is moving to facilitate the token conversion from BitDAO to Mantle.
What is BitDAO?
BitDAO is a virtual currency that can be traded on major exchanges such as ByBit. In 2021, Bybit took the initiative and raised funds to create a new autonomous decentralized organization. Many celebrities have also contributed to this project. BitDAO aims to revitalize the DeFi market, which represents decentralized finance, and is a project that has received a large amount of investment from Bybit. It is a project that aims to expand the DeFi market and contribute to the development of the market. Currently, it is handled by Bybit and Gate.io, and it is possible to actually trade.
|Current price (01/2023)||¥38.67|
|Market capitalization ranking(01/2023)||58位|
What is Mantle?
Mantle is a kind of Ethereum’s Layer2 blockchain, a DAO-driven Web3 ecosystem. The rebranding of BitDAO to Mantle was passed on May 19, 2023. After that, the brand transition is underway. Mantle brings hyperscale to Ethereum by taking a modular chain approach and combining it with a decentralized data availability layer.
Features of Mantle
Mantle has the following features:
Mantle can comfortably handle the service. It uses a modular approach that allows it to scale better than other networks.
Mantle uses the latest technology such as rollup to enable transaction processing with low fees.
In addition to rollups, Mantle plans to use a re-staking mechanism to give Ethereum validators additional rewards on BIT. With the help of validators, it is possible to ensure security equivalent to L1.
Mantle is related to Bybit
Mantle is associated with cryptocurrency exchange Bybit. Bybit provides support for BitDAO projects. Bybit is effectively backing Mantle. There will also be support for ecosystem growth directly from Bybit.
Mantle’s roadmap is mostly complete as of 2023. We have a mainnet launch and network upgrades to come, so far so good. Once these are completed, it will be a very safe investment brand for users.
Recommended by Bybit
Bybit has solid security measures and is an exchange with a large number of users around the world, so even beginners can invest with peace of mind. If you are interested, please refer to the article below to open an account.