The new proposal from Mantle aims to convert the BitDAO token BIT into Mantle tokens to achieve brand unification

ChainCatcher news, the Ethereum Layer 2 network Mantle developed by the BitDAO ecosystem submitted a proposal today on BitDAO's governance forum to implement the principle of "one brand, one token," positioning mantle.xyz as a product-centric unified ecosystem brand. In light of this, there are plans to convert the existing BitDAO token BIT into Mantle's token (token symbol to be determined). The entire ecosystem will be called Mantle, with the website at https://www.mantle.xyz/, and the existing Rollup projects will be referred to as Mantle Network.

It is reported that the token conversion will design a flexible cycle instead of a "balance snapshot." Therefore, existing token holders do not need to take any preparatory actions, and new buyers can purchase BIT in preparation for the conversion. Additionally, the changes to BitDAO.io are merely a superficial rebranding, and the existing governance processes will be retained, including proposals, budgeting, and fund resource management. The existing BitDAO treasury holdings and exposures should continue to be managed by the token holders. (source link)