The proposal to synchronize BitDAO and the Mantle network’s branding was overwhelmingly approved.
After a motion to optimize the token in advance of the start of a new layer-2 mainnet was adopted by a large majority vote on May 19TH, the BIT token will shortly undergo a branding metamorphosis to become Mantle.
Now that it’s passed, with a reported vote tally of 235 million BIT voting yes and 988 BIT voting no, the BIT token will eventually become MANTLE. As per an AMA (ask me anything) 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.”
Proposed Changes in BitDAO
According to sources, projected improvements to BitDAO are merely a cosmetic rebranding attempt and won’t have any effect on governance. Confusion will be reduced, branding will be simplified, and the BitDAO ecosystem will be improved in advance of the mainnet debut.
The BIP-21 snapshot’s changes are mostly concerned with harmonizing the branding and giving BitDAO a distinctive visual identity. These adjustments are seen to be important to improve ecosystem coherence and consistency, enabling a seamless user and participant experience in the decentralized autonomous organization.
The implementation of Mantle’s mainnet appears to be the company’s next move now that the BIP-21 proposal has passed.