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BitDAO Proposes One-Year Budget for Ethereum L2 Network Maintenance

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On February 14, the BitDAO community launched the BIP-19 proposal, which proposed to plan a one-year budget for the Ethereum L2 network Mantle launched earlier…

BitDAO Proposes One-Year Budget for Ethereum L2 Network Maintenance

On February 14, the BitDAO community launched the BIP-19 proposal, which proposed to plan a one-year budget for the Ethereum L2 network Mantle launched earlier, including 10 million BITs and 14 million USDCs to cover the six-month operating expenses of the test network, and 145 million BITs and 34 million USDCs to cover the one-year operating expenses of the main network.

BitDAO community launched a new proposal to vote, and planned to plan 1 year budget fund for Ethereum L2 network Mantle

Interpretation of the news:


BitDAO, a decentralized autonomous organization (DAO), made a significant effort in planning the one-year budget for the Ethereum L2 network Mantle. On February 14, the community launched the BIP-19 proposal, which aimed to allocate a total of 155 million BITs and 48 million USDCs to cover both the test and main network’s operating expenses.

The budget proposal involves allocating 10 million BITs and 14 million USDCs for the six-month operating expenses of the Mantle test network, covering salary expenses, infrastructure costs, and other necessary expenses. The proposal further suggests allocating 145 million BITs and 34 million USDCs for the one-year operating expenses of the Mantle main network.

The BitDAO community is aware that a well-defined budget allocation is necessary to scale the Ethereum network sustainably. Moreover, the proposed budget will ensure that the Ethereum L2 network Mantle runs smoothly and securely while supporting a more massive number of transactions.

The Ethereum L2 network Mantle provides a highly scalable, low-cost, and fast-transaction processing ecosystem, which is ideal for decentralized applications and the execution of smart contracts. Since the Ethereum network has encountered several scalability issues, it necessitates the development and implementation of layer 2 solutions like Mantle.

The proposed budget allocation for Mantle demonstrates BitDAO’s keen interest in maintaining the Ethereum network’s robustness and sustainability. The allocation of 155 million BITs and 48 million USDCs is evidence that the community is committed to the long-term success of the Ethereum network, which will, in turn, benefit the cryptocurrency market.

In conclusion, the BitDAO community’s proposal to allocate 155 million BITs and 48 million USDCs to cover the one-year operating expenses of Mantle test and main network respectively will significantly contribute to the Ethereum network’s scalability and sustainability. By doing so, BitDAO is playing a critical role in maintaining a decentralized financial infrastructure that benefits the entire cryptocurrency market.

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