Mantle and BIT just passed the snapshot voting proposal to have a conversion rate of 1:1 $BIT to $MNT. What are your thoughts on it and how do you feel it is going to impact the project in the long run. Let us discuss… interested in knowing the views of the community.
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I am new and not really understand all the tech info, but in a role of a tiny investor I think that good for both Mantle and Bit Dao, $BIT will be more utility.
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It is important to note that the success of such a proposal and its impact on the project will depend on a variety of factors, including the size and engagement of the communities involved, the overall market sentiment, the teams’ execution capabilities, and the underlying fundamentals of the projects themselves.
To gather the views of the community and get a better understanding of the potential impact, I would suggest engaging with the communities of both projects, participating in discussions on their official channels (such as forums, social media, or Telegram groups), and considering the opinions of experts or analysts in the field. These sources can provide you with valuable insights and a more comprehensive understanding of the potential implications of the snapshot voting proposal.
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Conversion rate is important for sure, but i think that at this moment of blockchain technology adoption, more important is timing and pumpamentals. In other words, if Mantle will be able to push changes when the tide of new bull market will rise, we will have success regardless of conversion specifics.
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If, MNT is not worth a at least a 2:1 ratio of BIT token then you will actually lose money in the end especially after ETH gas fees lol. But we shall see
Provided that the 1:1 conversion carries the same market cap, total number of circulating tokens, and accessibility, I think that the majority of community members, at least, will be satisfied with the new token. Considering that the new network will bring with it an entire ecosystem built around $MNT, there will be an increase in the number of token holders and it’s utility will increase it’s trading volume. Additionally, it’s critical that the native token carry the nom de guerre of the chain.
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Good point but I’m sure they have more utilities in place so let’s see
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It was the right decision. MNT shows a clear relation to Mantle.That would have been less the case with BIT and harder to understand for those less familiar with the project. it shows a concept being followed. Appreciate it.
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