Mantle MNT

Commentary versus actual token vesting

Mantle Network emerged from BitDAO, and its token distribution has undergone several major historical changes as detailed below: 1. Genesis Era: BitDAO Setup (2021) as shown on our dashboard Initial Supply: Fixed at 10,000,000,000 $BIT. Initial Allocations: - Bybit Locked (45%), - Bybit Flexible (15%), - BitDAO Treasury (30%), - Launch Partner Rewards (5%), - Private Sale (5%). Core contributors and private investors had a 12-month cliff followed by 12–24 months linear vesting. Treasury reserves unlocked linearly over 3 years. 2. Core Governance Restructuring (2023) BIP-21 / MIP-21 (Unification): Merged BitDAO and Mantle into a single ecosystem and accelerated vesting schedules for pre-existing BitDAO contributors. MIP-22 (Token Conversion & Cap): Implemented a 1 $BIT : 1$MNT conversion ratio, removed linear lockups, and set a 0% default annual mint cap. MIP-23 (The 3 Billion $BIT Burn): Voted not to convert roughly 3 billion$BIT held in the treasury, sending them directly to a burn address. This permanently cut total supply down to ~6.219 billion $MNT. 3. Current Supply Dynamics & Vesting Status No linear vesting schedules remain. All tokens were either fully vested during the $BIT migration or converted into uncirculated treasury reserves controlled by DAO governance. The Token Distribution after MIP-23: - Circulating Supply (~51.0%): ~3.17 billion $MNT held by public tokenholders, exchanges, and market participants. - Mantle Treasury (~49.0%): ~3.05 billion $MNT managed directly by Mantle Governance for ecosystem funding, grants, and liquidity programs (requires MIP budget approvals). Details can be found here: https://docs.mantle.xyz/governance/parameters/tokenomics 4. Calculating Circulating Supply Because there are no private investor cliffs or team vesting locks remaining, the circulating supply calculation is transparent and straightforward: Circulating Supply} = Total On-Chain Supply - Mantle Treasury Balance