Mantle Proposes $200 Million Fund for Web3 Startups

Introduction to Mantle's Proposal

Mantle Core has introduced a significant proposal aimed at fostering growth within the Web3 startup space. This initiative proposes the establishment of a $200 million fund specifically dedicated to supporting early-stage Web3 startups, with the goal of enhancing the adoption of Mantle’s network among developers and decentralized applications (Dapps).

Understanding the Fund Structure

This proposed fund is strategically designed to be deployed over the next three years to maximize its impact on the ecosystem. The financial structure of the fund involves a collaboration between BitDAO’s treasury and external partners. BitDAO’s treasury is expected to contribute $100 million in USD Coin (USDC), while an additional $100 million is anticipated to come from strategic venture partners. This combination aims to create a robust capital pool to sustain and grow the Mantle ecosystem.

Mantle's Role in the BitDAO Ecosystem

Mantle functions as an Ethereum layer-2 network within the BitDAO ecosystem, playing a critical role in its development and expansion. The proposal to establish this fund underscores Mantle's commitment to strengthening its network and engaging developers more deeply. By providing a substantial financial backing, Mantle seeks to encourage innovation and the creation of new Dapps, which are crucial for the ecosystem's success.

Conclusion

The $200 million fund proposal by Mantle Core signifies a strategic move to invigorate the Web3 startup landscape. By leveraging both internal and external financial resources, the initiative aims to boost developer interest and facilitate the growth of the Mantle network. This development is expected to have a lasting impact on the adoption of decentralized technologies within the BitDAO ecosystem.