{"id":556954,"date":"2023-02-27T00:47:59","date_gmt":"2023-02-26T21:47:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitdaos-mantle-core-proposes-200m-for-web3-fund\/"},"modified":"2023-02-27T00:47:59","modified_gmt":"2023-02-26T21:47:59","slug":"bitdaos-mantle-core-proposes-200m-for-web3-fund","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitdaos-mantle-core-proposes-200m-for-web3-fund\/","title":{"rendered":"# BitDAO\u2019s Mantle Core proposes $200M for Web3 fund"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2bfe5d3d995\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2bfe5d3d995\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitdaos-mantle-core-proposes-200m-for-web3-fund\/#%E2%80%9D_BitDAOs_Mantle_Core_proposes_200M_for_Web3_fund_%E2%80%9C\" >&#8221; BitDAO\u2019s Mantle Core proposes $200M for Web3 fund  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BitDAOs_Mantle_Core_proposes_200M_for_Web3_fund_%E2%80%9C\"><\/span>&#8221; BitDAO\u2019s Mantle Core proposes $200M for Web3 fund  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>A proposal seeking to create a $200 million fund dedicated to early-stage Web3 startups was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/discourse.bitdao.io\/t\/discussion-mantle-ecofund\/4692\">submitted<\/a> on Feb. 26 by Mantle Core on BitDAO\u2019s governance forum. The ecosystem fund aims to boost the adoption of Mantle\u2019s network among developers and D<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>s.\u00a0<\/p>\n<p>Mantle is an Ethereum layer-2 network developed by the BitDAO ecosystem. According to the proposal, a capital pool of $200 million would be deployed within the Mantle ecosystem over the next three years. BitDAO\u2019s treasury would provide $100 million in USD Coin (USDC), while another $100 million would be supplied by external matching capital from \u201cstrategic venture partners.\u201d<\/p>\n<p>Funds that have expressed interest in participating include Dragonfly Capital, Pantera, Folius Ventures, Play Ventures Future Fund, Spartan, Lemniscap, Selini Capital, Cadenza Ventures and QCP Capital, according to Mantle\u2019s proposal. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">[DISCUSSION] Mantle EcoFund<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/0xMantle?ref_src=twsrc%5Etfw\">@0xMantle<\/a> has posted a discussion proposing:<\/p>\n<p>\u2705 Authorization to establish Mantle EcoFund 1 of a capital pool of $200M (catalyzed with a target size of $100M from BitDAO).<\/p>\n<p>\u2705 Authorization of first capital call: $10M USDC from the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BitDAO?src=hash&amp;ref_src=twsrc%5Etfw\">#BitDAO<\/a> Treasury.<\/p>\n<p>\u2014 BitDAO (@BitDAO_Official) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BitDAO_Official\/status\/1629772197177995267?ref_src=twsrc%5Etfw\">February 26, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>If approved, the Mantle EcoFund and venture partners will participate in projects with 1:1 co-investment ratio. Web3 startups raising pre-seed, seed, and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> A round will be targeted by the ecosystem fund.<\/p>\n<p>The fund is proposed to have a three-year active investment period, plus two years of optional extension, a Mantle spokesperson told Cointelegraph by email. The initial fund operator is proposed to be Mirana Ventures, Bybit and BitDAO\u2019s venture partner, with an investment committee comprising representatives from Mirana Ventures, Mantle, BitDAO and Bybit.<\/p>\n<p>\u201cThe fund targets to invest in more than 100 projects deployed on Mantle and have a multiple on invested capital (MOIC) of 1.5x of cumulative performance through the fund\u2019s lifecycle,\u201d Mantle\u2019s spokesperson said.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/86b84a75-e7c3-47fa-996e-1c355cb4e207.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>EcoFund proposal summary from Mantle Core. Source: BitDAO\u2019s governance forum.\u00a0<\/em><\/figcaption><\/figure>\n<p>Management fees would be \u201cindustry standard,\u201d with a 2% fee to support operational expenses of the EcoFund team, including sourcing, due diligence, legal, portfolio support and fund administration.<\/p>\n<p>Across the crypto industry, similar initiatives aim to drive adoption and innovation. Last year, Ethereum scaling solution Polygon launched a $100 million fund aimed at improving access to decentralized finance, onboarding users and accelerating adoption.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitdao-s-mantle-core-proposes-200m-for-web3-fund\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; BitDAO\u2019s Mantle Core proposes $200M for Web3 fund &#8220; A proposal seeking to create a $200 million fund dedicated to early-stage Web3 startups was submitted on Feb. 26 by Mantle Core on BitDAO\u2019s governance forum. The ecosystem fund aims to boost the adoption of Mantle\u2019s network among developers and Dapps.\u00a0 Mantle is an Ethereum&#8230;<\/p>\n","protected":false},"author":1,"featured_media":556955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/8a146c13-a8b7-4921-ab1e-778a85bb60af.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75186,75719,93542,74355,117,70917],"class_list":["post-556954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-dao","tag-funding","tag-web3","tag-adoption","tag-business","tag-startups"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/556954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=556954"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/556954\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/556955"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=556954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=556954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=556954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}