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Mantle Introduces New Governing Body for Treasury Management

Community members of the Mantle approved the creation of an economics committee that will manage the layer 2 blockchain’s hulking $4.2 billion treasury. The Mantle Economics Committee will decide how to allocate the treasury, the majority of which is in the form of MNT, the governance token for Mantle. About $300 million is in stablecoins USDC and USDT. The vote to create the governing body comes several weeks after Mantle launched its mainnet technology stack for scaling Ethereum. The network has a total value locked (TVL) of $40.73 million. The governance proposal also authorizes Mantle LSD and an ether (ETH) staking strategy in collaboration with Lido.

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