BitDAO passes BIP-21 token optimization and branding proposal
A proposal to unify branding between the Mantle network and BitDAO passed with overwhelming support. The BIT token will soon undergo a branding transformation to become Mantle, a measure approved through a high majority vote on May 19 on a proposal to optimize the token ahead of the launch of a new layer-two mainnet. As Cointelegraph reported on May 12, the BIP-21 proposal sought to unify the BitDAO ecosystem under a “One brand , One token ” principle. Now that it’s passed, with a reported votes tally of 235 million BIT voting yes and 988 BIT voting no, the BIT token will eventually become MANTLE. As per an AMA cited in a Mantle blog post: “Many people were anticipating a separate gas token and didn’t understand that the utility of $BIT was growing. With the changes, Mantle will act as the common binding thread across the ecosystem.” While no specific date for conversion has been given, the blog post states that the conversion will occur before the implementation of the Mantle lay...