Bitcoin, Ethereum And Now Mantle? New Layer-2 Network Proposes $200M Ecosystem Fund
Portfolio Pulse from Murtuza Merchant
Mantle Network, an Ethereum layer-2 network, is proposing a $200 million ecosystem fund, the Mantle EcoFund, to promote developer and decentralized applications (dApps) adoption. The fund will consist of $100 million USDC from the Mantle Treasury and an expected matching capital of $100 million from various venture partners. An independent committee will oversee the investments made by the Mantle EcoFund. The fund will operate with a three-year target deployment period and a possible two-year extension.
July 10, 2023 | 1:55 pm
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The proposed Mantle EcoFund by Mantle Network, an Ethereum layer-2 network, could potentially increase the adoption and usage of Ethereum, which may have a positive impact on its price.
The Mantle Network operates on the Ethereum blockchain. The proposed $200 million ecosystem fund aims to promote the adoption of decentralized applications (dApps), which are primarily built on Ethereum. This could increase the demand for Ethereum, potentially driving its price up.
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