This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Mantle?

Mantle (MNT) is a Layer 2 scaling solution for Ethereum, built on top of the Ethereum blockchain. It leverages Optimistic Rollup technology to securely log transactions off-chain before settling them on-chain, offering lower transaction fees and higher throughput compared to Ethereum. The native MNT token serves as both a governance token and a utility token for gas fees within the Mantle network ecosystem.

How is Mantle used?

Mantle (MNT) is a utility token with dual roles within the Mantle ecosystem. It serves both as a governance token and a utility token.

Governance Role

As a governance token, each MNT token carries equal voting weight, allowing token holders to participate in the decision-making process through DAO voting. This ensures a decentralized and community-driven approach to shaping the future of the Mantle ecosystem.

Utility Role

As a utility token, MNT is used for several practical purposes:

  • Gas Fees: MNT tokens are utilized to pay for gas fees on the Mantle Network, making transactions more efficient and cost-effective.
  • Collateral Assets: MNT tokens can serve as collateral assets for Mantle Network nodes, incentivizing participation and contributing to the security and stability of the network.
Tokenomics

The distribution of MNT tokens is subject to the Mantle Governance process, with a strict procedure for budgeting, capital calls, and distribution. The token is an ERC-20 token with advanced functions on Layer 1 and a standard bridge-wrapped ERC-20 on Layer 2.

How do I store Mantle?

To store Mantle (MNT) tokens, you can use various wallet options. Here are some steps and considerations:

  1. MetaMask Wallet:

    • You can add the Mantle Network to your MetaMask wallet using Chainlist or the Mantle Network Explorer.
    • Once added, you can store and manage your MNT tokens within MetaMask.
  2. Trust Wallet:

    • You can also store MNT tokens on Trust Wallet, which supports multiple cryptocurrencies.
  3. Hardware Wallets:

  • If you have a hardware wallet like Trezor or Ledger, you can store your MNT tokens securely on these devices.
  1. KuCoin Account:

    • You can store MNT tokens in your KuCoin account, which offers a secure and trusted platform for managing your assets.
  2. Non-Custodial Wallets:

    • For more control over your assets, you can use non-custodial wallets, which allow you to hold and manage your MNT tokens independently.

Remember to always follow best practices for securing your wallet and protecting your assets from potential hacks or scams.

How to buy Mantle?

To buy Mantle (MNT) tokens, follow these steps:

  1. Choose a Reliable Exchange:

    • Select a reputable cryptocurrency exchange that supports MNT, such as KuCoin, CoinEx, Bybit, gate.io, or MEXC.
    • Research the exchange's fees, security features, and supported currencies before making a decision.
  2. Create an Account:

    • Register for a free account on the chosen exchange's website or mobile app.
    • Provide necessary personal information, including your name and email address.
    • Complete any required identity verification steps (KYC) to increase withdrawal limits and unlock additional features.
  3. Fund Your Account:

  • Choose a suitable funding method, such as credit/debit cards, bank deposits, P2P trading, or third-party payment channels.
  • Deposit the required amount to your exchange account.
  1. Buy MNT:

    • Navigate to the Buy & Sell section and select Mantle (MNT) as the cryptocurrency you want to purchase.
    • Decide on the order type:
      • Market Order: Buy MNT at the current market price.
      • Limit Order: Set a specific price at which you are willing to buy MNT.
      • Stop Order: Set a price to buy MNT when it reaches a certain level.
  2. Transfer MNT to Your Wallet:

    • Once you've purchased MNT, you can hold it in your exchange account or transfer it to a personal cryptocurrency wallet for additional security and flexibility.
  3. Store MNT Securely:

  • Use a non-custodial wallet to store your MNT, following the "not your keys, not your coins" principle.
  • Ensure you have control over your wallet's private keys and keep them safe.

By following these steps, you can securely buy and manage your Mantle (MNT) tokens.

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