TechFlow reports that BitDAO has proposed a proposal titled "Mantle Token Design and Asset Handling," which has now been approved. According to the proposal, the Mantle token MNT should have "upgradability" and "minting" functionalities similar to ARB and OP tokens, while the one-way token conversion ratio should be set at 1 BIT: 1 MNT.
To achieve these goals, BitDAO needs to authorize the Mantle core contributor team to determine the optimal timing and sequence for delisting the BIT token, listing the MNT token, opening conversion channels, and launching the Mantle network mainnet. During this process, in accordance with the intent of BIP-10, the revenue from the unwound BIT-ETH pool can be utilized to create a DEX liquidity pool for MNT-ETH. Additionally, a Temporary Conversion Treasury (TCT) can be established to support the token creation and conversion process.
