We are pleased to share that interest in our project in these early days has been quite high:

Mantis is incredibly proud that we have launched our rollup, protocol, and application. Now, users are able to have intent-based swaps on Ethereum, on Solana, and between the two ecosystems settled in an optimized manner. With Mantis, you can trade across Ethereum and Solana in seconds with no slippage, gas fees, or MEV bots.

• $53m trading volume on Mantis.app

• Over 38,000 unique addresses on Mantis.app

Now, we turn our attention to even further enhancing the Mantis ecosystem. Thus, we introduce the upcoming $M token, which will support the Mantis framework and its users while pushing the overall ecosystem further along its decentralization pipeline. As the $M token generation event (TGE) approaches, we present the tokenomics and utility of the $M token:

Basic Token Information

• Token Ticker: $M

• Total Supply at Genesis: 100,000,000

• Percentage Distributed to the Mantis Community and Ecosystem: 32.2%

• Token Decimals: 9

• Token Standard: SPL-20

  
  

Token Distribution

The $M token will have an initial supply of 100,000,000 tokens. $M tokens will be minted on Solana L1. Approximately a third of $M tokens (32.2%) will be allocated to the Mantis community via TGE launch campaign and Ecosystem allocations. This includes a launch campaign airdrop, and allocation toward future ecosystem and community initiatives.

M Token Distribution:

Mantis Network ($M) Token Unlock Schedule:

Launch Campaign - 16.2%

Our top priority is supporting our users. That includes taking care to reward our earliest participants while also sparking the interests of the next wave of users. Thus, upon the $M token generation event (TGE), we’ll be hosting an airdrop where around 16.2 million $M tokens will be distributed to:

Launch Campaign Participants

• Mantis season 1, 2, and 3 users

• Mantis app users (incl. testnet)

• Top Galxe & Zealy campaign performers

NFT Communities

• Milady NFT holders

• Mantis NFT holders

Crowdloan and Ecosystem Supporters

• Composable Polkadot Crowdloan participants

• Picasso (PICA) Token Stakers

• Composable Vault Strategy participants

• Instrumental (STRM) token holders

Infrastructure Partners

• Solana IBC validators

Ecosystem/Community ~ 16.0%

We believe that a strong ecosystem of active users and partner protocols is incredibly important. Their contributions, collaboration, and feedback is invaluable. Accordingly, approximately 16 million $M tokens will be allocated to partner protocols and ecosystem incentives. This will enable continued support, growth, and development of the Mantis framework.

Foundation Treasury - 16.8%

Approximately 16.8 million $M tokens will be allocated to the Mantis Foundation Treasury, which will strive to support the growth, development, and utility of the Mantis ecosystem.

Backers - 25.9%

Early supporters of Mantis network who helped make it possible to build.

Team - 25%

Allocated to core contributors of Mantis supporting continued development and growth of the protocol and ecosystem.

Token Utility

The $M token is the native token for the Mantis framework, and was created to help fulfill long-term goals of the Mantis ecosystem. Mantis plans to propose various $M token use cases via decentralized governance. Utilities for the $M token that we plan to propose include:

Network Security/Decentralization

$M token may be staked to secure the Mantis rollup. $M token is also used to decentralize the network validators

Value Accrual for Token Stakers

A portion of value generated on Mantis will flow to $M token stakers as a reward for helping to secure the Mantis network. This includes a percentage of the following value sources:

• Value from native yield

• Value from swaps

• MEV generated

Governance Rights

At Mantis, we believe it is important for the community to have a significant role in decentralization and governance of the ecosystem. Thus, the $M token is used for governance of the Mantis framework, with tokenholders being able to propose and vote upon governance initiatives.

Fee Sharing & Discounts

M token stakers will be eligible for receiving a portion of fees accumulated on Mantis. They will also be able to receive discounted fees themselves.

Solver Bonds

The $M token will be used to provide entrance bonds for solvers to enter the network. These bonds will also be used to hold solvers accountable for downtime/execution failures via slashing.

AI Agent Launching

The $M token will be used to provide entrance bonds for AI Agent onboarding; new AI agents onboarding to Mantis must pay this bond to join the ecosystem, disincentivizing spam and other misbehavior.

Key Takeaways

Mantis is making great strides in improving how users interact with the blockchain. With intent-powered swaps on Ethereum, Solana, and between the two networks now live, the $M token will even further help drive the Mantis ecosystem forward. Ultimately, Mantis aims to deliver a seamless, optimized, chain-abstracted user experience for swaps and, in the future, other types of operations. We believe these improvements will help not only enhance the experience for existing blockchain users, but also onboard new users to the cryptoeconomy.

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