Mantle Network to Launch $BIT to $MNT Migration Channel by July 17

Layer2 network Mantle released a users' guide on how to migrate $BIT to $MNT, saying that the migration channel will be available by July 17 on 6am UTC. The on-chain migration channel will be open for at least 6 months.

Users need to migrate their $BIT to $MNT on the Ethereum mainnet, which can be bridged to Mantle via the official bridge. Mantle will rebate migration cost gas fees to qualified users. In addition, centralized exchanges supporting the migration include Bybit, MEXC, Huobi, gate.io, BingX, and Korbit.

Mantle Network is an Optimistic Rollup developed by BitDAO. It uses a modular design, where the core functions of blockchain operation are performed on specialized layers, aiming for lower costs and better overall performance. Previously, BitDAO passed a governance proposal, approving the one-way token conversion from $BIT to $MNT on a 1:1 basis.