Mantle (MNT) Review (8.7/10⭐)

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Mantle's native token promotes network participation through various incentives. As a $MNT holder, you can enjoy rewards and other benefits. The network has events where token holders get the chance to win prizes. Is that enough reason to consider buying Mantle (MNT), though? Of course not. The token has low fees, making it a cost-effective payment alternative. It's also an opportunity to be an active part of the Mantle community. You should be able to understand the token better after this quick overview.

 

A Bit About Mantle

Mantle (MNT) is an ERC-20 designed with practical functionality for Mantle network users. Typical of most Layer2 solutions, Mantle aims to fix the scalability problems of the Ethereum network. The blockchain's native token, $MNT, leverages Ethereum's plus points. Thus, expect fast transactions. Mantle's modular architecture is another reason for quick transactions since it hyperscales network performance. You can use $MNT to pay for transactions on the Mantle networks, which reduces costs significantly, compared to transacting on Ethereum.

An exciting layer two project on Ethereum!CryptoLists.com

 

$MNT users benefit from advanced token functions on Layer1, while the L2 version is a standard EC-20 token. Mantle has different offerings for $MNT holders. Its Rewards Station is the gateway to passive earning. Being part of the Mantle ecosystem also means access to its NFT marketplace. The DAO teamed up with a renowned visual artist to create an NFT collection – Citizens of Mantle. Whether earning, playing, or trading on Mantle, you can capitalize on the NFT collection to enjoy an immersive experience.

 

Utility of Mantle?

The value of a crypto token depends on what you can do with it. Hence, it's understandable that you want to know $MNT use cases before deciding if it's the right acquisition. Whether you prefer holding or trading with cryptocurrency, here is what to look forward to if you choose Mantle (MNT).

DAO projects like Mantle are community-driven. It means they depend on the support of their communities to expand. One way they facilitate this is by giving members voting rights. Owning $MNT affords you voting power in the Mantle community.

Having asset holders give their opinions on what to do is how the project remains decentralized. Every $MNT has equal voting weight. With a particular number of tokens in your wallet, you can earn the right to contribute to major decisions, thus contributing to the reputation and direction of the project. For example, you can help vote on new initiatives, tokenomics modifications, and organizational restructuring.

You can use MNT to pay gas fees when transacting on the Mantle network. The tokens can also help boost security and stabilize the network by acting as collateral assets for the network nodes.

Mantle (MNT) allows you to earn rewards through its locking systems. While you might be content with the token you hold, it doesn’t hurt to get something extra, especially when you don’t have to do too much for it. The Mantle Rewards Station provides a step-by-step for locking tokens. Once you put away your $MNT, you receive MNT Power (MP), which you delegate to a specific prize pool to accumulate points.

You receive rewards according to the amount and duration of your MNT Power. Mantle holds events to reward token holders. Prizes vary across events. You have two locking options – fixed or flexible. Fixed locking only allows you to access your tokens after maturity. Flexible Unlock allows withdrawals at any time. If you want your $MNT to work for you, then locking them is a practical alternative. Ensure you understand all the terms before participating in any event.

An important point worth noting is that these token utilities can shift over time because Mantle is a DAO, meaning it changes according to the current status.

 

Advantages of Mantle

+ $MNT is available to buy on a decent selection of centralized exchanges, including KuCoin, Kraken, and ByBit
+ You can easily swap various tokens for $MNT on DEXs built on the Ethereum Network
+ Transactions benefit from Ethereum's robust security measures, thanks to a partnership with the EigenLayer restaking protocol
+ You can use Mantle (MNT) to explore the NFT marketplace for an immersive experience in the Mantle Ecosystem
+ Grow your assets by earning rewards when you lock in your tokens for a prolonged period
 

Disadvantages

- Transaction speeds rely on the performance of the Ethereum network, which can sometimes get congested
- Since the token runs on Ethereum, it's subject to the network's Layer1 scalability issues.
- Only a few selected exchanges facilitate direct withdrawals and deposits to the Mantle Network
- Compared to other Layer2 solutions, the MNT token has a modest user base and faces challenges of slow adoption.
- A high supply and low demand for the token reduces its value
 

Costs

▪ Rated at 9/10

Cost-effectiveness is one advantage Mantle has over various layer 2 tokens. Transacting on the network costs about 0.02 $MNT, which translates to less than $0.02. The traffic on the Ethereum network determines the gas fees for this token. So, fees fluctuate dramatically. What about withdrawing from an exchange? This cost varies from one exchange to another. It ranges from 0.05% to 0.2% of your transaction.

 

Reputation and Buzz

▪ Reputation rated at 8.5/10
▪ Buzz rated at 8.5/10

Layer2 projects always create quite a buzz, and Mantle was no exception. The team behind it promised a ground-breaking project that will help solve the persistent scalability challenges of the Ethereum network.

So, when it launched, the crypto scene was keen to see what Mantle will achieve. The fact that Mantle was a product of BitDAO is an advantage because the latter is an established brand with a strong reputation. Interest in the network benefits the token.

Although $MNT might not be as popular as most Layer2 coins, it's making waves in the industry. Increasing demand for Layer2 tokens means that Mantle (MNT) has a bright future if it continues delivering fast and cheap transactions.

 

FAQ

How many MNT tokens are out there?

The total market supply of Mantle (MNT) is 6.2 billion. As of August 2024, 3.7 billion, about 52%, is in circulation. The remaining 47.4% of the supply is in the Mantle Treasury.

Is there a minimum number of tokens for locking?

No. Mantle doesn't impose a minimum locking requirement for asset holders who want to stake their tokens. However, every event sets a winning threshold, which determines the users who receive rewards. Therefore, confirm the terms and conditions before staking.

Where can I find $MNT?

You can buy the Mantle token at several leading cryptocurrency exchanges, such as MEXC, Gate.io and Bithumb. Check the withdrawal fees, KYC requirements, and reputation before choosing a centralized exchange.

 

History of Mantle

July 2023 - After rebranding to separate from BitDAO, Mantle launches its mainnet. By then, the Mantle testnet had been running for six months.

October 2023 - Mantle (MNT) hits its lowest price since launching at $0.32.

August 2024 - The company announces the next phase of the Mantle AI Fest, where participants can grab 50K $MNT in rewards.

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Screenshots from Mantle

 

More sites where to buy/sell/trade Mantle

Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.