Mantle Network is like the boss that helps everything to work smoothly.
On May 19, BitDAO, a decentralized organization in the crypto world with a lot of money, changed its name to Mantle and decided to change its BIT token to MNT tokens. They are following a rule of using one brand and one token.
A blog post says that Bybit, MEXC, and Huobi are helping with the token migration. According to Etherscan, Bybit has a lot of MNT, which is the third largest amount held by any company. They have over 15% of all the MNT available. Additionally, two related companies, Jump Capital and Jump Trading, have collected over $5. 3 million MNT tokens by converting BIT to MNT in many transactions, according to data from the blockchain analysis platform Nansen.
A person from Jump Trading did not answer right away when CoinDesk asked for a comment.
People who use cryptocurrency have put in about 4,200 ETH and 14 million MNT tokens into a pool on the Uniswap exchange. Together, these are worth more than $15 million.