Mantle DAO and FTX holdings: A critical decision
posted 18 Aug 2023
Currently, Mantle DAO is evaluating a proposal that would prohibit the conversion of BIT tokens held by FTX Group into the new MNT token.
Previously, Alameda Research, a branch of the FTX Group, swapped 3.4 million FTT tokens for a staggering 100 million BIT tokens, which equated to around $43 million. Yet FTX's descent into bankruptcy prompted DAO members to introduce this proposal.
MNT is a token that was launched as Mantle's L2 mainnet went live. The blockchain was established by the Bybit exchange, which initiated the merge of BIT (BitDAO) and MNT tokens.
Controversies aside, there's robust support for this proposal within the Mantle enclave, spotlighting the overarching investor community's interests.
Previously, Alameda Research, a branch of the FTX Group, swapped 3.4 million FTT tokens for a staggering 100 million BIT tokens, which equated to around $43 million. Yet FTX's descent into bankruptcy prompted DAO members to introduce this proposal.
MNT is a token that was launched as Mantle's L2 mainnet went live. The blockchain was established by the Bybit exchange, which initiated the merge of BIT (BitDAO) and MNT tokens.
Controversies aside, there's robust support for this proposal within the Mantle enclave, spotlighting the overarching investor community's interests.
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