{"id":74712,"date":"2023-02-27T18:07:21","date_gmt":"2023-02-27T16:07:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74712"},"modified":"2025-09-09T21:48:58","modified_gmt":"2025-09-09T18:48:58","slug":"bitdao-participants-to-vote-on-creating-a-200-million-ecosystem-investment-fund","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitdao-participants-to-vote-on-creating-a-200-million-ecosystem-investment-fund\/","title":{"rendered":"BitDAO participants to vote on creating a $200 million ecosystem investment fund"},"content":{"rendered":"<p>Mantle Core and Mirana Ventures have proposed that the BitDAO community vote on establishing an ecosystem investment fund worth $200 million.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">[DISCUSSION] Mantle EcoFund<a 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 href=\"https:\/\/twitter.com\/hashtag\/BitDAO?src=hash&#038;ref_src=twsrc%5Etfw\">#BitDAO<\/a> Treasury.<\/p>\n<p>\u2014 BitDAO (@BitDAO_Official) <a 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><\/p>\n<p>The goal of the structure is to expand use by developers of <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\">layer-2 solutions<\/a> in the Mantle ecosystem of BitDAO. The test version of the protocol was <span data-descr=\"decentralized applications\" class=\"old_tooltip\">dapps<\/span> <a href=\"https:\/\/forklog.com\/en\/news\/bitdao-launches-mantle-l2-testnet\">launched<\/a> in January 2023.<\/p>\n<p>Under the proposal, BitDAO&#8217;s treasury would allocate $100 million to the fund over three years in the stablecoin <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-usdc-stablecoin\">USD Coin (USDC)<\/a>. An equivalent amount would be contributed pro rata to Mantle EcoFund by strategic venture partners, including Mirana Ventures.<\/p>\n<p>Interest in such a status has been expressed by Dragonfly Capital, Pantera, Folius Ventures, Play Ventures, Spartan, Lemniscap, Selini Capital, Cadenza Ventures and QCP Capital.<\/p>\n<p>The fund will back early-stage projects, up to Series A rounds. The investment size will be $500,000 per project, with the possibility of doubling for \u201cpromising startups with stronger use cases for the BIT token.\u201d<\/p>\n<p>Mirana Ventures will operate Mantle EcoFund. The firm will have one seat on the investment committee. It will also include two representatives from the Mantle team and one each from BitDAO and Bybit. The community will have the ability to propose changes to membership.<\/p>\n<p>The management fee is expected to be at the industry standard level of 2% per year of the fund&#8217;s <span data-descr=\"assets under management\" class=\"old_tooltip\">AUM<\/span>.<\/p>\n<p>To incentivize strategic partners, Mantle EcoFund proposes to allocate 20% of the revenue due to BitDAO&#8217;s treasury to them. However, this provision would take effect only after the initial investments are fully repaid.<\/p>\n<p>Targets for Mantle EcoFund include:<\/p>\n<ul class=\"wp-block-list\">\n<li>more than 100 projects deployed within the protocol&#8217;s ecosystem over three years;<\/li>\n<li>increase in invested capital by 1.5x.<\/li>\n<\/ul>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"590\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/e4646fd6772e71bb26ffcdefcbac208118628100-1024x590.jpeg\" alt=\"e4646fd6772e71bb26ffcdefcbac208118628100\" class=\"wp-image-199153\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/e4646fd6772e71bb26ffcdefcbac208118628100-1024x590.jpeg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/e4646fd6772e71bb26ffcdefcbac208118628100-300x173.jpeg 300w, https:\/\/forklog.com\/wp-content\/uploads\/e4646fd6772e71bb26ffcdefcbac208118628100-768x443.jpeg 768w, https:\/\/forklog.com\/wp-content\/uploads\/e4646fd6772e71bb26ffcdefcbac208118628100-1536x886.jpeg 1536w, https:\/\/forklog.com\/wp-content\/uploads\/e4646fd6772e71bb26ffcdefcbac208118628100.jpeg 1620w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Source: <a href=\"https:\/\/discourse.bitdao.io\/t\/discussion-mantle-ecofund\/4692\">BitDAO forum<\/a>.<\/figcaption><\/figure>\n<p>If the community approves the creation of the fund, the treasury would automatically allocate the first tranche of 10 million USDC.<\/p>\n<p>In January, the Venom Foundation, a blockchain platform developer, in partnership with Iceberg Capital, launched <a href=\"https:\/\/forklog.com\/en\/news\/venom-foundation-launches-1-billion-fund-to-invest-in-web3\">a $1 billion venture fund<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mantle Core and Mirana Ventures proposed to the BitDAO community to vote on creating an ecosystem investment fund worth $200 million.<\/p>\n","protected":false},"author":1,"featured_media":74713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[80,1133],"class_list":["post-74712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dao","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=74712"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74712\/revisions"}],"predecessor-version":[{"id":74714,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74712\/revisions\/74714"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/74713"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=74712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=74712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=74712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}