MNT · a fixed supply with a huge treasury still to come.
MNT is the token of Mantle, an Ethereum layer-2 network — ~3.3B circulating out of a fixed 6.22B cap, with no protocol mint and vesting long finished. The other ~2.92B sits in the Mantle Treasury.
Sell pressure. No new coins are minted — supply only grows as the treasury releases MNT into the market, about 26M over the next 90 days.
Buy pressure. Nothing structural removes supply — there is no active buyback and the fee burn is too small to count.
Net. About +0.8% to market over 90 days — supply edging up slowly as the treasury drips into circulation.
MNT has a fixed supply of about 6.22B coins, set at the 2023 merger — there is no protocol mint, no inflation curve and no new issuance, so nothing is created on a schedule.
Every original team, investor and contributor allocation finished vesting back in 2023, so MNT is fully unlocked and no cliff reaches the market.
The Mantle Treasury still holds about 2.92B MNT — roughly 47% of supply, DAO-controlled. Coins reach the open market only when governance budget proposals and the ecosystem rewards program move them out, about 26M over the next 90 days at the recent on-chain pace. The remaining ~2.92B is a tracked overhang with no fixed release calendar.
No bankruptcy estate or court-ordered distribution applies to MNT. The large treasury overhang is governance-controlled, not a bankruptcy claim.
No protocol buyback is executing on a published rate. The treasury could fund one if governance votes for it, but none is active in the window — monitored.
MNT is not burned by the network. The total supply is fixed at 6.22B and the circulating figure is rising, not falling, so no supply is being removed by fees — monitored.
No discretionary open-market buying of MNT by the treasury has been announced or observed in the window — monitored.
No new multi-year lock or escrow that removes circulating MNT has been announced in the window — monitored.
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