Treasury Analysis: Mantle Reigns Supreme
Amidst the ebb and flow of the crypto market, Web3 projects have faced dwindling treasuries. However, amidst this downturn, Mantle Protocol stands out as an exception, accumulating an impressive $3 billion in its coffers. This places it far ahead of industry giants like the Ethereum Foundation, which holds approximately $512 million.
- Mantle Treasury: $3 billion
- Ethereum Foundation: $512 million
Mantle’s financial strength stems from a diversified treasury, as highlighted by DefiLlama’s analysis:
- Majors
- Own Tokens
- Others
Majors (BTC, ETH): $440.83 million
Own Tokens (BIT): $1.19 billion
Others (MNT, USDC, USDT, etc.): $1.15 billion
Exploring Mantle Protocol
Nestled within the BitDAO ecosystem, Mantle Protocol operates a rollup layer-2 blockchain for the Ethereum ecosystem. This positioning aligns it with the likes of Polygon (MATIC), Optimism (OP), and Arbitrum (ARB). Like these rivals, Mantle offers enhanced scalability, efficiency, and affordability for decentralized application developers.
Fundraising in a Challenging Market
Despite the market downturn, both BitDAO Community and Mantle Protocol have managed to maintain robust treasuries.
Funding for Mantle and BitDAO Treasuries
BitDAO has been a fundraising powerhouse, raising $230 million in a private round, $379 million in an IDO, and $14 million in an IEO.
Conclusion
In a market facing economic headwinds, Mantle Protocol’s $3 billion treasury emerges as a beacon of financial strength. This advantage positions the protocol for continued success and innovation within the Web3 landscape.
Author: Amelia Roberts
Credit and Rights: MigBase.com