BitDAO, a self-governing decentralized organization backed by Bybit, proposes to merge the entire ecosystem into Mantle Network, a new layer-2 solution launched by BitDAO.

On May 5, the autonomous organization BitDAO submitted a proposal to unify the entire ecosystem into its layer-2, the Mantle Network. The proposal includes converting BIT into Mantle's, other features such as token design, trading mechanism, trading channels will also be adjusted to merge into Mantle.

Besides, BitDAO will be changed to Mantle DAO.

The proposal clearly states the criteria "One brand, One token" to simplify its ecosystem, instead of having to issue tokens for each product and be managed by separate DAOs. BitDAO wants to combine them all. make a Mantle again, from tokens to treasury and DAO.

Accordingly, the proposal will not lead to major changes in the way the existing system is managed. Those holding BITs will also be flexibly converted to the mechanism without having to do any work, suggesting sharing.

Launched by BitDAO at the end of 2022, Mantle Network is a layer-2 scaling solution on Ethereum in modular form, with separation of the consensus layer, transaction execution and payment layers, as well as like data storage. Therefore, Mantle is expected to increase the scalability and operational efficiency of blockchain.