MNT · nothing moved. Half the supply is waiting on a vote.
MNT is the gas and governance coin of Mantle, a layer built on top of Ethereum. There are 6.22B in existence, 3.30B of them trade, and the other 2,917.02M sit in the community treasury.
Sell pressure. Zero. The chain pays no reward for making blocks, the release calendar ended in 2023, and all eleven treasury wallets held the identical balance at both ends of the quarter.
Buy pressure. Also zero. No buyback, and no burn: gas is paid in this coin, but the fees are parked in protocol accounts rather than destroyed — they grew by 41.03K.
Net. 0.00% — flat, and flat again looking forward. Not shrinking: the count never rises, but nothing is being taken away either. The one thing that can change it is a governance vote.
Nothing was created. The chain pays no reward for producing blocks, so there is no stream of new coins at all. The contract does keep a way to make more, and the account that could use it is still live — but the dial that sets how much reads zero, at both ends of the quarter, so any attempt would mint nothing. The headline count sat on 6.22B the whole way through.
There is nothing left to unlock. The release calendar finished in 2023 and no cliff, tranche or escrow remains — the unlock trackers read this coin as fully unlocked with no future dates at all. What is still off the market is not vesting; it is a treasury that votes.
No public evidence of release in window — monitored. The treasury holds 2,917.02M across eleven published wallets on two networks, about 47% of every coin that exists, and every single one of them held the identical balance to the last decimal at both ends of the quarter. It is one of the largest treasuries in crypto and it did not move — capacity, not a schedule, because it only releases on a passing vote and no vote was held. Also watched: 201.19K sitting in the network's own fee accounts, which grew by 41.03K as people paid gas, and 5.55M of bridge collateral backing coins issued on other networks.
No bankruptcy estate and no court-supervised trustee holds this coin, so nothing arrives from that side.
There is no buyback contract and no buyback programme. A proposal to burn 3-8% of the treasury has been sitting in the discussion stage since Feb 25 2026 and has never reached a vote, let alone execution. It would count if it ever passed — the treasury sits outside the tradable count, so destroying part of it would genuinely shrink the float.
Nothing meaningful was destroyed, and this one is easy to get wrong. Gas on this network is paid in the coin itself, which looks like a burn and is not: the fees went into three protocol accounts that grew 160.16K to 201.19K over the quarter. Moved, not destroyed. Both burn addresses were checked on both networks and the only thing that arrived anywhere was 1 single coin.
No public evidence of release in window — monitored.
Nothing new was locked away — the opt-in rewards lock actually shrank, from 7.16M to 7.07M, a net release of 89.81K. The 5.55M that appeared in a bridge pool this quarter is collateral for coins issued on other networks, not supply taken off the market, and counting it as a lock would have invented a buy row out of a plumbing change.
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