According to a report by Vinicius Barbosa in Finbold, the Mantle Protocol, associated with the BitDAO (BIT) token, currently holds a treasury of over $3 billion. This amount is six times higher compared to the Ethereum Foundation, which has a treasury of $512 million. The disparity is due to the diversified treasury of the Mantle Protocol, including major cryptocurrencies, its own tokens, and others. As a rollup layer-2 blockchain operating on the Mantle Network, the protocol aims to enhance scalability, efficiency, and cost-effectiveness for decentralized app developers within the Ethereum ecosystem. Additionally, the treasury operations of the Mantle Protocol maintain transparency through on-chain surveillance and reporting.
Despite the fundraising challenges faced in 2023, the BitDAO Community and the Mantle Protocol continue to maintain robust treasuries. BitDAO experienced successful fundraisers, raising $230 million privately, over $379 million through its initial DEX offering (IDO), and an additional $14 million via an initial exchange offering (IEO) on Bybit. With a substantial treasury and significant monetary gains, BitDAO and the Mantle Protocol are positioned strongly within the Web3 domain.
This article is 95% likely factual news based on my current analysis.
