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Mantle logoMantle

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About

Mantle is an under development EVM compatible Optimium, based on the OP Stack.


Value Locked
$2.27 B11.3%
Canonically Bridged
$1.58 B
Externally Bridged
$553.54 M
Natively Minted
$137.76 M

  • Tokens
  • Daily UOPS
    5.7149.3%
  • 30D tx count
    10.57 M

  • Type
    Optimium
  • Purpose
    Universal
  • Sequencer failureState validationData availabilityExit windowProposer failure

    Badges

    About

    Mantle is an under development EVM compatible Optimium, based on the OP Stack.


    Value Locked
    Activity
    Milestones & Incidents

    Mainnet v2 Tectonic Upgrade

    2024 Mar 15th

    Mantle completes Mainnet v2 Tectonic Upgrade.

    Learn more

    Mainnet launch

    2023 Jul 14th

    Mantle is live on mainnet.

    Learn more
    Risk summary
    Risk analysis
    Sequencer failureState validationData availabilityExit windowProposer failure

    Sequencer failure

    Self sequence

    In the event of a sequencer failure, users can force transactions to be included in the project’s chain by sending them to L1. There is a 12h delay on this operation.

    State validation

    None

    Currently the system permits invalid state roots. More details in project overview.

    Data availability

    External

    Proof construction and state derivation rely fully on data that is NOT published on chain. Mantle DA contracts are forked from EigenDA with significant modifications, most importantly removal of slashing conditions. DA fraud proof mechanism is not live yet.

    Exit window

    None

    There is no window for users to exit in case of an unwanted regular upgrade since contracts are instantly upgradable.

    Proposer failure

    Cannot withdraw

    Only the whitelisted proposers can publish state roots on L1, so in the event of failure the withdrawals are frozen.

    Technology

    Fraud proofs are not enabled

    OP Stack projects can use the OP fault proof system, already being deployed on some. This project though is not using fault proofs yet and is relying on the honesty of the permissioned Proposer and Challengers to ensure state correctness. The smart contract system permits invalid state roots.

    • Funds can be stolen if an invalid state root is submitted to the system (CRITICAL).

    1. L2OutputOracle.sol - Etherscan source code, deleteL2Outputs function

    Data is not stored on chain

    The transaction data is not recorded on the Ethereum main chain. The sequencer posts the transactions data batch root, and then propagates the data to off-chain permissioned nodes to sign. It subsequently posts the nodes signatures on chain to verify they belong to the specified members of the quorum, and that the minimum stake threshold is met.

    • Funds can be lost if the external data becomes unavailable (CRITICAL).

    1. DataLayrServiceManager.sol#L389 - Etherscan source code, confirmDataStore function
    2. DataLayrServiceManager.sol#L404 - Etherscan source code, signature verification check
    3. Derivation: Batch submission - OP Mainnet specs
    4. BatchInbox - Etherscan address
    5. OptimismPortal.sol - Etherscan source code, depositTransaction function
    Learn more about the DA layer here: Mantle DA logoMantle DA
    Operator

    The system has a centralized operator

    The operator is the only entity that can propose blocks. A live and trustworthy operator is vital to the health of the system.

    • MEV can be extracted if the operator exploits their centralized position and frontruns user transactions.

    1. L2OutputOracle.sol - Etherscan source code, CHALLENGER address
    2. L2OutputOracle.sol - Etherscan source code, PROPOSER address

    Users can force any transaction

    Because the state of the system is based on transactions submitted on the underlying host chain and anyone can submit their transactions there it allows the users to circumvent censorship by interacting with the smart contract on the host chain directly.

    1. Sequencing Window - OP Mainnet Specs
    2. OptimismPortal.sol - Etherscan source code, depositTransaction function
    Withdrawals

    Regular exit

    The user initiates the withdrawal by submitting a regular transaction on this chain. When the block containing that transaction is finalized the funds become available for withdrawal on L1. The process of block finalization takes a challenge period of 7d to complete. Finally the user submits an L1 transaction to claim the funds. This transaction requires a merkle proof.

    • Funds can be frozen if the centralized validator goes down. Users cannot produce blocks themselves and exiting the system requires new block production (CRITICAL).

    1. OptimismPortal.sol - Etherscan source code, proveWithdrawalTransaction function
    2. OptimismPortal.sol - Etherscan source code, finalizeWithdrawalTransaction function
    3. L2OutputOracle.sol - Etherscan source code, PROPOSER check

    Forced exit

    If the user experiences censorship from the operator with regular exit they can submit their withdrawal requests directly on L1. The system is then obliged to service this request or halt all withdrawals, including forced withdrawals from L1 and regular withdrawals initiated on L2. Once the force operation is submitted and if the request is serviced, the operation follows the flow of a regular exit.

    1. Forced withdrawal from an OP Stack blockchain
    Other considerations

    EVM compatible smart contracts are supported

    OP stack chains are pursuing the EVM Equivalence model. No changes to smart contracts are required regardless of the language they are written in, i.e. anything deployed on L1 can be deployed on L2.

    1. Introducing EVM Equivalence
    Permissions

    The system uses the following set of permissioned addresses:

    Challenger is an actor allowed to challenge or delete state roots proposed by a Proposer.

    Guardian is an actor allowed to pause deposits and withdrawals.

    Proposer EOA 2

    Proposer is an actor allowed to post new state roots of the current layer to the host chain.

    Sequencer EOA 1

    Sequencer is an actor allowed to commit transactions from the current layer to the host chain.

    MantleEngineeringMultisig 0x2F44…daC9
    • A Gnosis Safe with 3 / 7 threshold.
    • A Challenger.
    • A Guardian.

    Those are the participants of the MantleEngineeringMultisig.

    MantleSecurityMultisig 0x4e59…D40f
    • A Gnosis Safe with 6 / 13 threshold.
    • Can act on behalf of MantleTokenProxyAdmin, ProxyAdmin, ProxyAdmin, ProxyAdmin.
    • Can change the configuration of SystemConfig - it can update the preconfer address, the batch submitter (Sequencer) address and the gas configuration of the system.
    • Can change the configuration of Lib_AddressManager (acting via ProxyAdmin) - set and change address mappings.
    • Can upgrade the implementation of BLSRegistry, InvestmentManager, L2OutputOracle, SystemConfig, DataLayrServiceManager, PubkeyCompendium, MantleSecondStrat, RegistryPermission, OptimismPortal, DataLayrChallenge, MantleFirstStrat, DataLayrChallengeUtils, Delegation (acting via ProxyAdmin).
    • Can upgrade the implementation of L1MantleToken (acting via MantleTokenProxyAdmin).
    • Can upgrade the implementation of EigenDataLayerChain.
    • Can upgrade the implementation of L1StandardBridge (acting via ProxyAdmin) - upgrading the bridge implementation can give access to all funds escrowed therein.
    GnosisSafe 0x7735…635A
    • A Gnosis Safe with 2 / 2 threshold.
    • Member of MantleSecurityMultisig.
    GnosisSafe participants (2) 0x5881…9B120x2288…3f1e

    Those are the participants of the GnosisSafe.

    Smart contracts
    A diagram of the smart contract architecture
    A diagram of the smart contract architecture

    The system consists of the following smart contracts on the host chain (Ethereum):

    PauserRegistry 0x075a…A86f
    MantleTokenProxyAdmin 0x0cac…9ADd

    Can be used to upgrade implementation of L1MantleToken.

    This contract stores the number of Mantle DA operators and their public keys. It also store the quorum threshold and the minimum stake required to be part of the quorum.

    Can be upgraded by:

    Upgrade delay: No delay

    Contract managing different investment strategies, forked from EigenLayer StrategyManager.

    Can be upgraded by:

    Upgrade delay: No delay

    ProxyAdmin 0x2Cd3…9e83

    Can be used to upgrade implementation of InvestmentManager, MantleSecondStrat, RegistryPermission, MantleFirstStrat, Delegation.

    Contains a list of proposed state roots which Proposers assert to be a result of block execution. Currently only the PROPOSER address can submit new state roots.

    Can be upgraded by:

    Upgrade delay: No delay

    MNT token contract: Mantle uses Mantle (MNT) as the designated gas token, allowing users pay for gas in MNT.

    Can be upgraded by:

    Upgrade delay: No delay

    Contains configuration parameters such as the Sequencer address, gas limit on this chain and the unsafe block signer address.

    Can be upgraded by:

    Upgrade delay: No delay

    ProxyAdmin 0x47D5…1EBb

    Can be used to upgrade implementation of BLSRegistry, DataLayrServiceManager, PubkeyCompendium, DataLayrChallenge, DataLayrChallengeUtils.

    PauserRegistry2 0x4ca7…92D0
    Can be upgraded by:

    Upgrade delay: No delay

    This contract is the main entry point for data availability. It is responsible for storing transaction data headers and confirming the data store by verifying operators signatures.

    Can be upgraded by:

    Upgrade delay: No delay

    Sends messages from host chain to this chain, and relays messages back onto host chain. In the event that a message sent from host chain to this chain is rejected for exceeding this chain’s epoch gas limit, it can be resubmitted via this contract’s replay function.

    Lib_AddressManager 0x6968…5a42

    Legacy contract used to manage a mapping of string names to addresses. Modern OP stack uses a different standard proxy system instead, but this contract is still necessary for backwards compatibility with several older contracts.

    Can be upgraded by:

    Upgrade delay: No delay

    The main entry point to deposit ERC20 tokens from host chain to this chain. This contract can store any token. This contract can store any token.

    Can be upgraded by:

    Upgrade delay: No delay

    Basic do-nothing investment strategy.

    Can be upgraded by:

    Upgrade delay: No delay

    Can be upgraded by:

    Upgrade delay: No delay

    The main entry point to deposit funds from host chain to this chain. It also allows to prove and finalize withdrawals. This contract stores the following tokens: ETH, MNT.

    Can be upgraded by:

    Upgrade delay: No delay

    Can be upgraded by:

    Upgrade delay: No delay

    ProxyAdmin 0xca35…7794
    • Can be used to configure Lib_AddressManager - set and change address mappings.
    • Can be used to upgrade implementation of L2OutputOracle, SystemConfig, OptimismPortal.
    • Can be used to upgrade implementation of L1StandardBridge - upgrading the bridge implementation can give access to all funds escrowed therein.

    Basic do-nothing investment strategy.

    Can be upgraded by:

    Upgrade delay: No delay

    Can be upgraded by:

    Upgrade delay: No delay

    Can be upgraded by:

    Upgrade delay: No delay

    Value Locked is calculated based on these smart contracts and tokens:

    Main entry point for users depositing ERC20 token that do not require custom gateway.

    Can be upgraded by:

    Upgrade delay: No delay

    Main entry point for users depositing ETH, MNT.

    Can be upgraded by:

    Upgrade delay: No delay

    The current deployment carries some associated risks:

    • Funds can be stolen if a contract receives a malicious code upgrade. There is no delay on code upgrades (CRITICAL).

    Knowledge nuggets