key takeaways
- Mantle 2.0 combines DeFi transparency with the leading centralized exchange Bybit’s liquidity to enable the tokenized RWA (real-world assets).
- The Mantle × Bybit Roadmap also provides significant MNT utility: Buy, Use, Hold, and Earn for the retail and institutional participants.
- Despite the $200M EcoFund helping accelerate DeFi-CeFi interoperability, DAO decentralization could face opposition.
Mantle 2.0 is changing the cryptocurrency landscape and has partnered with Bybit, the second-largest crypto exchange by trading volume. The initiative could potentially help to connect Decentralized Finance (DeFi) and Centralized Finance (CeFi).
As reported by Delphi Digital, Mantle is transitioning away from being an Ethereum layer-2 (L2) scaling solution to potentially become a “liquidity chain” for tokenized real-world assets (RWAs), e.g., digitized stocks or real estate.
The partnership combines DeFi’s community-centered transparency with CeFi’s greater liquidity and user base to form a hybrid model of blockchain finance.
The Development of Mantle Network
The project was initially launched in 2021 as a project of BitDAO. Mantle Network was the first Ethereum L2 (Layer 2) project to be governed by a decentralized autonomous organization (DAO) and aimed to offer lower cost and faster transactions while at the same time inheriting Ethereum’s security.
In May 2023, BitDAO and Mantle Network were merged into the Mantle brand, which came with the Mantle Token (MNT). Mantle 2.0 represents a new phase of development; it is so because the platform has transitioned from a pure scaling solution to a utility-focused platform, which is ultimately integrated into the Bybit ecosystem. By making use of Bybit’s $3–5 billion daily spot trades volume and total derivatives ranging more than $25 billion, the Mantle token will enhance the role MNT plays in payments, trading, and wealth management and eventually become a prominent and widely adopted form of tokenized RWAs.
Mantle × Bybit Roadmap: Expanding MNT’s Role
On August 29, 2025, Mantle and Bybit released a roadmap that sets out a plan to scale MNT’s utility into four main areas going forward: Buy, Use, Hold, and Earn. The plan is divided into phases running from August to September and beyond, making MNT a flexible asset for retail and institutional users.
The key elements of the roadmap include
- Buy: MNT can be purchased via spot trading over-the-counter (OTC), as well as Bybit’s auto-invest bot. By late September 2025, a “Discount Buy” feature will be introduced on select lockup products that allow buyers to pay a lower price for MNT.
- Use: MNT trading pairs will increase from four to over 20 by September, increasing its liquidity. MNT will also be used as a method for trading fee discounts and zero-fee card payments via Bybit Card & Pay, as well as on Web3 purchases.
- Hold: Onboarding will begin in early September with institutional users being able to access 8x leverage and fixed-loan terms. Retail investors need to hold MNT longer for VIP upgrades and receive more cashback on different levels.
- Earn: MNT holders will have access to fixed-term savings and flexible savings, as well as liquidity mining, with increased allocation for new token launches, with the aim of providing MNT as a wealth management tool.
Mantle 2.0 is working with Bybit on achieving the best of both worlds: DeFi transparency and CeFi liquidity and compliance, and establishing its position as one of the pillars of the Bybit ecosystem. Mantle has a $200M EcoFund for real-world asset applications and is also backed by major investors such as Dragonfly, Pantera, and Spartan. Mantle is a well-resourced venture for integrating DeFi and CeFi but Bybit’s heavy involvement raises the question of how decentralized the DAO remains.
