A decentralized layer-2 solution for Ethereum called Mantle has made the announcement that it would contribute $200 million to the expansion of its ecosystem via the formation of a fund called the Mantle EcoFund. The EcoFund will provide financial assistance to projects that are developing on the Mantle network. The fund’s primary emphasis will be on scaling and increasing the usability of decentralized apps (dApps) built on Ethereum.
#Mantle's EcoFund proposal, with a target size of $100M from BitDAO to catalyze a capital pool of $200M, is out on the #BitDAO Discourse forum.
Have a say in how we can better support projects building on Mantle ➡️ https://t.co/ltT23tsJYs https://t.co/T7W1pJ9Ek2
— Mantle (@0xMantle) February 26, 2023
Mantle’s development aim
It is the goal of Mantle to solve the scalability problems that have plagued Ethereum and make it possible to conduct transactions more quickly and at a lower cost. Since its layer-2 solution is built on top of Ethereum, it is able to use the security and decentralization of the Ethereum network while solving the restrictions imposed by Ethereum’s scalability.
The EcoFund will provide financial assistance to initiatives that are developing on the Mantle network and making significant contributions to the growth of the Ethereum ecosystem. Projects that are aiming to improve the scalability and usability of decentralized applications (dApps) running on Ethereum, as well as those who are working on infrastructure and tools for the Ethereum network, will be given priority by the fund.
According to the statement, the team from Mantle will collaborate closely with the projects that have been chosen to get financing, and they will provide technical direction and support throughout the process of development. The EcoFund will also give the initiatives with marketing assistance and community support, which will assist the projects in becoming more visible and attracting users.
Ethereum is striving to get better
This new advancement comes at a time when there is a continuing high demand for scalable solutions pertaining to Ethereum. The proliferation of decentralized finance (DeFi) and non-fungible tokens (NFTs) has caused severe congestion on the Ethereum network, which has resulted in significantly higher transaction fees. The layer-2 solution proposed by Mantle tries to solve these difficulties by facilitating transactions that are both quicker and less expensive than the Ethereum network’s current system, all the while preserving its reputation for decentralization and safety.
In general, the Mantle EcoFund represents a major commitment to the expansion and development of the Ethereum ecosystem. [Citation needed] [Citation needed] Mantle intends to contribute to the scalability and usability of Ethereum by offering assistance for projects that are built on its network. This will make Ethereum a more accessible and user-friendly platform for the development of decentralized apps.
