Ethereum Layer 2 Mantle Network, governed by its DAO, has put forward a proposal concerning the migration of BitDAO (BIT) tokens to Mantle (MNT) as part of the ongoing merger between the two projects.

Authored by community member Cateatpeanut, the proposal states that the BIT tokens held by the troubled FTX Group shouldn’t be automatically eligible for conversion due to various disqualifying factors, adding there is no guaranteed right of migration from BIT to MNT. The on-chain migration contract has already been paused pending the outcome of this discussion and the subsequent vote, according to the proposal.

Mantle Network announced its merger with BitDAO in May, a decentralized autonomous organization known for having one of the largest treasuries in crypto, currently worth over $3 …