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Mantle (MNT) Token Review 

The Mantle network's native utility and governance token, MNT, gives token holders access to both voting rights and useful functionality. It functions similarly to other layer-2 tokens and is an ERC-20 token.

The Decentralized Autonomous Organization (DAO) on Mantle Network allows token owners to cast votes and take part in the decision-making process. In addition to being used to pay gas fees on the network, MNT tokens are collateral assets used by Mantle network nodes. 

About 

A group of 25 individuals, including Joshua Lapidus and Arjun Krishan Kalsy, formed the Mantle Network. It is a BitDAO product under community governance, which began with discussions on merging BitDAO and the Mantle network. Ultimately, the decision was made in May 2023 to rename the DAO under the Mantle network, converting the BIT token into the MNT token.

To alleviate Ethereum's congestion, the Mantle network mainnet was introduced in July 2023. It offers a hyper-scalable architecture and modular design. It is the first modular Ethereum layer 2 solution, compatible with the Ethereum Virtual Machine (EVM), and built on top of Ethereum, enabling developers to use smart contracts.

Utilizing the Multi-Party Computation (MPC) technique, the Mantle system reduces the risks associated with trust during protocol execution. To authorize transactions, it also made use of the Threshold Signature Scheme (TSS). Resources are separated on a new level by its modular architecture enabling the switching, replacing, and altering of each layer to provide flawless functioning.

Additionally, Mantle works with initiatives like EigenLayer, LayerZero, Pyth, and Biconomy, which enhances the ecosystem's capability and provides an excellent user experience for users everywhere. 

MNT Coin Use Cases

Within the Mantle ecosystem, the MNT token has the following use cases:
Utility: On the Mantle Layer 2 network, MNT tokens are used to pay gas fees, which makes ecosystem transactions and operations easier.
Governance: Each MNT token has an equal weight in votes, and holders of MNT tokens are able to cast votes in the Mantle DAO. This gives token owners the ability to affect the network's decision-making process.
Collateral: To maintain the stability and security of the Mantle network, MNT tokens can be utilized as collateral for operating nodes. 

Economic Value

There are 6.2 billion MNT tokens in total supply, of which 3.3 billion are in use. 60% of the MNT token reward pool is distributed proportionately based on the amount of MNT staked, and this process is how the tokens are produced through the node staking payouts. The Mantle Treasury receives the remaining 40% of the prize pool. The token supply is deflationary because of the burning of the undistributed portion of the node staking incentives. The MNT tokens' scarcity is preserved in part by this burning process. 

Challenges

In contrast to other well-known layer 2 blockchains (such Arbitrum, Optimism, and zkRollups) that are fierce competitors, Mantle is a recently created project. Its reliance on Ethereum's speed and scalability as a layer 2 blockchain is also a cause for worry. The MNT coin must be widely used and well-liked by cryptocurrency enthusiasts. Other problems with the coin that are preventing it from becoming widely used include price swings, market instability, and regulatory uncertainty.