# \[PASSED\] MIP-22: Mantle Token Design, Conversion Parameters, and Asset Handling **URL:** \ **Category:** \[Curated Archive\] Mantle Organization\ **Created:** [May 22, 2023, 2:21pm UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352 "2023-05-22T14:21:56Z")\ **Posts on this page:** 20\ **Page:** 5
**Author:** ![rezadeli](https://avatars.discourse-cdn.com/v4/letter/r/a8b319/32.png) [@rezadeli](https://forum.mantle.xyz/u/rezadeli)\ **Post date:** [May 24, 2023, 11:16am UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/95 "2023-05-24T11:16:58Z")
congrats to the community and team, a Twitter space and a discussion about the proposal could be a good idea ---
**Author:** ![Graft07](https://avatars.discourse-cdn.com/v4/letter/g/b487fb/32.png) [@Graft07](https://forum.mantle.xyz/u/Graft07)\ **Post date:** [May 24, 2023, 12:33pm UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/96 "2023-05-24T12:33:39Z")
- It is clear and concise. You had done a good job of explaining the purpose of the proposal, the key issues involved, and the proposed solutions. - It is supported by evidence. You also provided evidence to support your claims, such as the fact that the token conversion ratio of 1 BIT to 3.14 MNT has been tested and found to be feasible. - It considers the costs and benefits. The team has considered the costs and benefits of implementing the proposal, and have made a convincing case that the benefits outweigh the costs. - It is critical of the proposal. The team has not shied away from asking difficult questions and challenging the assumptions made in the proposal. Overall, I think the proposal is a good one. It is well-written, well-supported, and well-reasoned. I would recommend voting “Yes” on the proposal. However, there are a few things that I would like to see the team address before the proposal is finalized. First, I would like to see more information about the audit of the $MNT token. I would like to know who conducted the audit, what the findings of the audit were, and how the team plans to address any of the issues that were identified. Second, I would like to see more information about the timeline for the implementation of the $MNT token on Mantle Network testnet and mainnet. I would like to know when the team expects to launch the $MNT token, and what steps they will take to ensure a smooth transition. I believe that addressing these issues would make the proposal even stronger. I am confident that the team will be able to address these issues, and I look forward to voting on the proposal when it is finalized. ---
**Author:** ![saiwor](https://avatars.discourse-cdn.com/v4/letter/s/6f9a4e/32.png) [@saiwor](https://forum.mantle.xyz/u/saiwor)\ **Post date:** [May 24, 2023, 6:27pm UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/99 "2023-05-24T18:27:40Z")
How BitDAO will turn into MantleDAO? Are there utilities/use cases provided by the BIT token currently that would be dropped after the merge? Are there new use cases to consider that were not part of the Mantle initial roadmap after the merge is completed? ---
**Author:** ![Millioncrypto](https://avatars.discourse-cdn.com/v4/letter/m/3ec8ea/32.png) [@Millioncrypto](https://forum.mantle.xyz/u/Millioncrypto)\ **Post date:** [May 24, 2023, 7:00pm UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/100 "2023-05-24T19:00:37Z")
The $BIT-ETH pool, as referenced in the future? ---
**Author:** ![Zolotoyck](https://dub1.discourse-cdn.com/flex013/user_avatar/forum.mantle.xyz/zolotoyck/32/960_2.png) [@Zolotoyck](https://forum.mantle.xyz/u/Zolotoyck)\ **Post date:** [May 24, 2023, 7:29pm UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/101 "2023-05-24T19:29:15Z")
Will bit owners, testers, early users be rewarded? We need specifics, we have been in the project for half a year! ---
**Author:** ![macaw](https://avatars.discourse-cdn.com/v4/letter/m/a8b319/32.png) [@macaw](https://forum.mantle.xyz/u/macaw)\ **Post date:** [May 24, 2023, 7:38pm UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/102 "2023-05-24T19:38:51Z")
> [@Gx](#): > > o what would you do at different prices what will be total supply of mantle token? ---
**Author:** ![macaw](https://avatars.discourse-cdn.com/v4/letter/m/a8b319/32.png) [@macaw](https://forum.mantle.xyz/u/macaw)\ **Post date:** [May 24, 2023, 7:39pm UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/103 "2023-05-24T19:39:29Z")
what will be total supply of mantle token? ---
**Author:** ![RenatoCS](https://avatars.discourse-cdn.com/v4/letter/r/e68b1a/32.png) [@RenatoCS](https://forum.mantle.xyz/u/RenatoCS)\ **Post date:** [May 24, 2023, 9:34pm UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/104 "2023-05-24T21:34:03Z")
In my humble opinion, I think it’s better to be a normal 1BIT/1MANTLE swap… This makes it easier for the cex/dex to support…another point is that it doesn’t cause a sense of loss of added value. ---
**Author:** ![Cryptoworld](https://dub1.discourse-cdn.com/flex013/user_avatar/forum.mantle.xyz/cryptoworld/32/1136_2.png) [@Cryptoworld](https://forum.mantle.xyz/u/Cryptoworld)\ **Post date:** [May 24, 2023, 9:35pm UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/105 "2023-05-24T21:35:03Z")
Greetings! Despite the fact that $BIT is much better in many forms than $MNT, I support this project, since the final proposal is made in favor of the Mantle project. Tokens should be exchanged 1:1, and not become a total of 31.4 billion. ---
**Author:** ![joseel](https://avatars.discourse-cdn.com/v4/letter/j/ecc23a/32.png) [@joseel](https://forum.mantle.xyz/u/joseel)\ **Post date:** [May 24, 2023, 9:35pm UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/106 "2023-05-24T21:35:05Z")
It is also interesting to know the maximum supply of $MNT tokens ---
**Author:** ![petrolev](https://avatars.discourse-cdn.com/v4/letter/p/f6c823/32.png) [@petrolev](https://forum.mantle.xyz/u/petrolev)\ **Post date:** [May 24, 2023, 9:43pm UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/107 "2023-05-24T21:43:24Z")
Am I correct in understanding that I can hold bit tokens (metamask) and wait for the automatic conversion without additional costs? now I would not like to spend one more time on the commission in ethereum ))) ---
**Author:** ![Svonson1715](https://avatars.discourse-cdn.com/v4/letter/s/db5fbb/32.png) [@Svonson1715](https://forum.mantle.xyz/u/Svonson1715)\ **Post date:** [May 24, 2023, 9:43pm UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/108 "2023-05-24T21:43:41Z")
It would be interesting to see the full detailed tokenomics ---
**Author:** ![kiemthanh](https://avatars.discourse-cdn.com/v4/letter/k/6bbea6/32.png) [@kiemthanh](https://forum.mantle.xyz/u/kiemthanh)\ **Post date:** [May 24, 2023, 9:45pm UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/109 "2023-05-24T21:45:54Z")
Bitdao’s total supply is 10 billion, and the exchange rate is 3.14 means the total supply of MNT will increase? ---
**Author:** ![CrimSonMAN](https://avatars.discourse-cdn.com/v4/letter/c/a5b964/32.png) [@CrimSonMAN](https://forum.mantle.xyz/u/CrimSonMAN)\ **Post date:** [May 25, 2023, 12:21am UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/110 "2023-05-25T00:21:35Z")
I kindly request to maintain the current circulating token count without any changes. Such a change is unnecessary as I do not want it to affect users who hold futures positions on the asset. This modification may lead to forced position closures on exchanges and create additional confusion. Please refrain from complicating the transition process for exchanges, limiting it to a ticker change, icon modification, and other minor adjustments. I kindly ask for your attention to my request. ---
**Author:** ![monkey\_scratch\_head](https://dub1.discourse-cdn.com/flex013/user_avatar/forum.mantle.xyz/monkey_scratch_head/32/220_2.png) [@monkey\_scratch\_head](https://forum.mantle.xyz/u/monkey_scratch_head)\ **Post date:** [May 25, 2023, 1:19am UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/111 "2023-05-25T01:19:06Z")
A fine proposal, I’m curious on these points 1. "Mint"and “Burn” are necessary utilities for token contract that need to be able to manage their velocity of supply, which is true for bridges. _The last event you want is a limiting of network growth due to restriction of the gas token_ 2. What is the reasoning behind 3.14 as the conversion ratio, despite sounding delicious, is it merely for the meme value or something else? ---
**Author:** ![canada](https://avatars.discourse-cdn.com/v4/letter/c/f14d63/32.png) [@canada](https://forum.mantle.xyz/u/canada)\ **Post date:** [May 25, 2023, 3:59am UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/113 "2023-05-25T03:59:07Z")
Please tell me max supply of MNT token? ---
**Author:** ![Renesh227](https://avatars.discourse-cdn.com/v4/letter/r/e5b9ba/32.png) [@Renesh227](https://forum.mantle.xyz/u/Renesh227)\ **Post date:** [May 25, 2023, 4:08am UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/114 "2023-05-25T04:08:38Z")
If the token conversion is 1:1 it should be fair for holders. ---
**Author:** ![0xthanos](https://dub1.discourse-cdn.com/flex013/user_avatar/forum.mantle.xyz/0xthanos/32/1057_2.png) [@0xthanos](https://forum.mantle.xyz/u/0xthanos)\ **Post date:** [May 25, 2023, 5:16am UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/115 "2023-05-25T05:16:49Z")
Team, thanks for a great job. Here’s a list of my questions on the topic: 1. What is the rationale behind incorporating the “Upgradability” and “Mint” functions from other tokens into the $MNT token? How will this benefit the Mantle Network ecosystem? 2. How was the conversion ratio of 1 $BIT token to 3.14 $MNT tokens determined? Are there any considerations or factors that influenced this specific ratio? 3. Can you provide more information about the process of delisting $BIT tokens and listing $MNT tokens on DEX and CEX platforms? What are the expected timeframes and potential challenges? 4. Regarding the creation of a DEX liquidity pool for $MNT-ETH, how will the proceeds from the deconstructed $BIT-ETH pool be used for constructing the new pool? Will there be any specific strategies or guidelines for managing the liquidity pool? 5. What are the specific roles and responsibilities of the temporary conversion treasury (TCT) in the token creation and conversion process? How will it interact with significant holders, such as the previous BitDAO Treasury and the Mantle Network budget multisig? 6. Could you provide more details about the L1 Conversion Smart Contract (L1CSC) and its role in the conversion process? How will it be audited and tested to ensure its security and functionality? 7. How will the community be involved in the decision-making process for potentially controversial issues related to the token conversion plan? Are there specific channels or platforms for community discussions and consultations? 8. What is the expected timeline for completing all the necessary steps before the $BIT to $MNT conversion channels become operational? Are there any milestones or checkpoints that need to be reached before proceeding to the next step? 9. Are there any plans or considerations for incentivizing or rewarding participants who support the token conversion process, such as liquidity providers or early adopters of the $MNT token? 10. What measures are in place to ensure transparency and accountability throughout the token conversion process? Will there be regular updates or reports to keep the community informed about the progress and asset flows? ---
**Author:** ![Faizer](https://dub1.discourse-cdn.com/flex013/user_avatar/forum.mantle.xyz/faizer/32/953_2.png) [@Faizer](https://forum.mantle.xyz/u/Faizer)\ **Post date:** [May 25, 2023, 7:28am UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/117 "2023-05-25T07:28:48Z")
Будет ли комиссия при конвертации токена bit в mnt? ---
**Author:** ![yizhuxianzhi](https://avatars.discourse-cdn.com/v4/letter/y/9f8e36/32.png) [@yizhuxianzhi](https://forum.mantle.xyz/u/yizhuxianzhi)\ **Post date:** [May 25, 2023, 8:03am UTC](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352/119 "2023-05-25T08:03:17Z")
支持该提案，以及转换参数，希望社区给出明确的路线图 [Previous page](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352.md?page=4) [Next page](https://forum.mantle.xyz/t/passed-mip-22-mantle-token-design-conversion-parameters-and-asset-handling/6352.md?page=6)