Mantle was originally an L2 network project incubated and managed by the original BitDAO. In May of this year, Mantle officially became an independent brand and completed the brand merger with the original incubator. The Mantle treasury manages assets worth approximately $3.2 billion, mainly composed of BIT, MNT, ETH, USDC, and USDT. Initial supporters include cryptocurrency exchange Bybit, venture capitalists Peter Thiel, Dragonfly, Pantera Capital, and Polygon, among others.