Introduction
The Mantle community has established an Economics Committee to oversee the management of its $4.2 billion treasury. This body will determine the allocation of funds, primarily held in MNT, Mantle’s governance token, with a significant portion held in stablecoins.
Formation of the Committee
The decision to establish the Economics Committee followed the launch of Mantle’s mainnet technology stack. The network has a Total Value Locked (TVL) of $40.73 million, placing it behind larger competitors such as Arbitrum and Optimism.
The committee’s authority extends to approving a Mantle LSD and an Ethereum (ETH) staking strategy in collaboration with Lido.
Staking Strategy
Mantle LSD, a liquid staking protocol, allows users to deposit ETH for mntETH, a liquid staking token. The staking strategy with Lido involves allocating 40,000 ETH from the treasury to stETH for the purpose of bootstrapping DEX liquidity and integrations.
Mantle’s treasury currently holds over 264,000 ETH.