Share this article
Mantle Introduces New Governing Body for Treasury Management
The new layer 2 network passed a governance vote that establishes the Mantle Economics Committee as well as introduces more liquid staking into the ecosystem by authorizing liquid staking protocol Mantle LSD and the allocation of 40,000 ETH from its treasury to stETH.
Updated Aug 7, 2023, 4:44 p.m. Published Aug 7, 2023, 4:44 p.m.
Community members of the Mantle approved the creation of an economics committee that will manage the layer 2 blockchain’s hulking $4.2 billion treasury.
The Mantle Economics Committee will decide how to allocate the treasury, the majority of which is in the form of MNT, the governance token for Mantle. About $300 million is in stablecoins USDC and USDT.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The vote to create the governing body comes several weeks after Mantle launched its mainnet technology stack for scaling Ethereum. The network has a total value locked (TVL) of $40.73 million, according to DefiLlama, making it substantially smaller than competing L2s Arbitrum and Optimism, which have $1.9 billion and $874 million, respectively.
The governance proposal also authorizes Mantle LSD and an ether staking strategy in collaboration with Lido. Mantle LSD is a liquid staking protocol where users can deposit ETH in exchange for mntETH, a liquid staking token
Mantle’s staking strategy with Lido includes allocating 40,000 ETH from Mantle treasury to stETH as a way “to bootstrap DEX liquidity and integrations across Mantle,” said Lido contributor “Seraphim,” in a forum discussion. Mantle’s treasury currently holds more than 264,000 ETH, according to its website.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
JPMorgan Pushes Deeper Into Tokenization With Galaxy's Debt Issuance on Solana
Galaxy’s onchain debt deal, where JP Morgan acted as arranger, was settled in USDC stablecoin and backed by Coinbase and Franklin Templeton.
What to know:
- J.P. Morgan arranged Galaxy Digital’s commercial paper issuance on the Solana blockchain, one of the first of its kind in the U.S.
- Coinbase and Franklin Templeton bought the short-term debt instrument, settled in USDC
- Tokenization of real-world assets is gaining traction, with projections suggesting the market could reach $18.9 trillion by 2033.
Top Stories
