Explore BitDAO's proposal to unify its ecosystem under the Mantle brand, streamline tokenomics, and enhance the long-term prosperity of token holders.
BitDAO’s Unification With ‘One Brand, One Token’ Principle
To address these challenges, BitDAO has proposed a series of changes aimed at maximizing long-term token holder prosperity, increasing the chances of success for core products like Mantle Network, and preserving the governance and economic rights of token holders. This proposal consists of two main components:
- Apply a “One brand, One token” principle: BitDAO seeks to position mantle.xyz as the unified ecosystem brand with a product focus. This will involve rebranding the product components under the Mantle brand and adopting the Mantle brand for governance components. All existing governance processes will be preserved, including proposals, budgeting, and treasury resource management. The existing BitDAO Treasury holdings and exposure will remain under the governance of token holders and will be referred to as the Mantle Treasury.
- Simplify tokenomics for a fresh start for the Mantle Network mainnet and token listings: BitDAO plans to accelerate all BIP-20 contributions and BitDAO launch vesting schedules. This will simplify the token circulating supply and make it more predictable, with no outstanding vesting schedules inherited from the original BitDAO launch. Tokenomics aggregators and media companies will no longer report large amounts of monthly vesting.
- Approve token conversion strategy: Token conversion guidelines and proportions will uniformly apply to all token holders. A versatile conversion time frame, rather than a “balance snapshot,” will be implemented to enhance user convenience. As a result, current token holders won’t need to make any preliminary preparations, and new purchasers can acquire $BIT in anticipation of the conversion. Following the audit, details on the new token design, conversion methods, and conversion channels will be disclosed.
BitDAO Sets The Stage For Mantle Network
The new Mantle token will incorporate the latest design principles and features, including additional features to support Mantle products and Mantle governance. Preliminary research and design will be shared for community feedback. The token conversion will be a gradual process with various official conversion channels for holders to choose from. Existing holders will have the option to convert their tokens at any time during the transition.
This proposal will not result in material changes to the existing governance process or resource management. Ideas and discussions are welcome on a permissionless forum, and proposals require ratification by the token holder vote on Snapshot.
Existing initiatives, such as Game7 and EduDAO, will maintain their rights to determine their brand, governance processes, mission, and strategy. The overall ecosystem will be called Mantle, and the website will be https://www.mantle.xyz/. The existing Rollup project will be referred to as Mantle Network, and new product lines powered by the Mantle token will use the naming convention Mantle [Name] as a default.