04/21/2024
BTC64,894.0
ETH3,167.86
USDT1.0
BNB580.63
SOL151.61
USDC0.999754
XRP0.53153
DOGE0.161274
BUSD1.004
Last news
Mantle Network Launches Second Phase of its Testnet
06/13/2023

Mantle Network Launches Second Phase of its Testnet

06/13/2023
4,5

Mantle Network, a Layer-2 protocol developed by BitDAO, has recently announced the second phase its public testnet named Ringawood. Mantle Network was brought to life by BitDAO, one of the largerst decentralized autonomous organizations (DAOs).

The Mantle network is currently in its Phase Two Ringwood testnet phase. Early users who actively participate in the testnet phase may be eligible for a future airdrop of the MNT token.

To be eligible, users need to possess a decentralized wallet such as MetaMask, and acquire some GETH, which is a test token typically used for the Goerli Ethereum network.

Next, you will need to acquire some GETH (Goerli ETH), a test token with no real value commonly used in the Goerli Ethereum network, which is a test network of the Ethereum ecosystem. 

Once you have obtained GETH, you can proceed to the Mantle website and connect your Twitter account. Mint at least 1000 BIT tokens on the testnet using the provided process. After acquiring the BIT tokens, navigate to the "bridge" section of the website and complete a few tasks. These tasks involve depositing GETH and BIT test tokens on the "deposit" item and approving and confirming the transactions.

Users can also withdraw tokens from the "fake staking" section. The more steps you complete, the higher your chances of being selected for the airdrop, which will distribute the real-value MNT tokens. For more details refer to this article

Apart from the testnet activities, active participation in the Mantle community and governance is crucial. Since Mantle is under the umbrella of BitDAO, engaging in governance proposals made by the community is recommended. You can vote on proposals by owning a small amount of BIT tokens (not on the testnet). 

Mantle itself is built as a Layer-2 scaling solution on the Ethereum blockchain, utilizing optimistic rollup technology. It aims to process transactions at a lower cost and with higher throughput compared to Ethereum. Additionally, Mantle maintains compatibility with the Ethereum Virtual Machine (EVM), making it easy for existing decentralized applications (DApps) on Ethereum to deploy on Mantle in the future.

Backed by notable investors like Peter Thiel, Founders Fund, Pantera Capital, and Dragonfly Capital, BitDAO powers the Mantle Network with its native token, BIT. BIT serves as the governance token for BitDAO decisions and is also used as the gas token for transactions on the Mantle Network.

 


Subscribe to Cryptonica.News
on social networks

The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.

MetaMask


How useful is this article for you?
Thank you for your review!

Last news