Manta Network (MANTA) – What is outstanding about the ZK project invested b
Manta Network is a project that has received a lot of attention recently when it launched a Layer 2 solution called Manta Pacific. So what is special about this project? Let's find out with Coin68 through this article!
Manta Network (MANTA) – What is outstanding about the ZK project invested by Binance Labs?
What is Manta Network?
Manta Network is a modular blockchain ecosystem for ZK applications. Manta Network provides 2 blockchain networks, including:
- Manta Atlantic: Layer 1 blockchain on Polkadot, providing identity and credentials to web3 via zkSBT.
- Pacific Blanket: Layer 2 blockchain on Ethereum for EVM compatible ZK applications.
What is Manta Network?
The combination of these two blockchain solutions will facilitate the development and application of web3 in other areas of life.
You may be interested in:
- What is Manta New Paradigm? Instructions for participating in the airdrop program from Layer 2 Manta Pacific
- What is Optimism (OP)? Layer 2 solution with the ambition to become "Superchain"
Product of Manta Network
Manta Atlantic
Manta Atlantic is a blockchain networkLayer 1supports on-chain compliant identification. This blockchain network offers a core product suite of: zkNFT, staking projects, and an ecosystem that provides user-friendly access.
Compared to other zk Layer 1 solutions, Manta Atlantic is focusing more on the credentials layer with practical applicability that allows interactive projects without dealing with any coding.
Manta Atlantic's infrastructure was developed in 2 years with an address system based on a public account and a private address system based on UTXO technology called zkAddress. zkAddress will be able to protect types of information including: on-chain authentication information, off-chain identities. It is the first private addressing system that is reusable, independent, and auditable.
Pacific Blanket
Manta Pacific is a Layer 2 ecosystem on Ethereum for compatible ZK applicationsEVM. This blockchain network provides cheap gas fees and scalability for ZK applications through the Solidity programming language.
Outstanding features of Manta Pacific:
- Compatible withEVM.
- Manta's Universal Circuits feature enables easy ZK application development with the Solidity programming language.
- Providing high scalability and low transaction fees for ZK applications through technologyzkEVMand project data availability solutionsCelestia.
Although it was only launched in September 2023, Manta Pacific's TVL has so far experienced rapid growth and has now reached more than 700 million USD.
TVL of Manta Pacific. Source: Dune Analytics (January 6, 2024)
Features of Manta Network
High scalability, low transaction fees
Manta Pacific uses solutions from Celestia andOP stackto deliver superior scalability, low gas fees. Through its Universal Circuits feature, Manta Pacific provides an optimal environment for building and deploying ZK applications.
Developer-friendly
The multi-modular approach provides developers with the flexibility to leverage Manta's private identity tools on different blockchains and in web2 environments including mobile applications.
Manta's SDK and proof keys provide developer-friendly solutions for on-chain identity integration with just a few simple steps.
Creating new uses for ZK technology
Manta Pacific features Universal Circuits, a ZK library that helps developers call smart contracts and dAppsSoliditytheir existing.
Supports KYC without revealing personal information
Manta Network's ZkSBT allows users to verify in a trustless, decentralized way without revealing any information. This tool will provide on-chain KYC without requiring passport scanning or entering sensitive personal information.
Manta Network's ecosystem
Manta Pacific's ecosystem
Since its launch, Manta Pacific has gradually built itself a fairly complete ecosystem in different fields such as:DeFi, Infrastructure, Bridge, SocialFi, Gaming/Metaverse, ... Among them, DeFi and Gaming/Metaverse are the fastest growing fields on Manta Pacific.
Manta Pacific's ecosystem
The ecosystem of Manta Atlantic
Compared to Manta Pacific, Manta Atlantic's ecosystem is quite modest with only 9 projects.
The ecosystem of Manta Atlantic
Basic information about MANTA token
Token name
MANTA
Token
MANTA
Blockchain
Polkadot
Token standard:
Updating...
Contract
Updating...
Uses of tokens
Administration, Utilities
Total supply
1.000.000.000 MANTA
Circulating supply
Updating...
Token allocation
MANTA token distribution chart
- Mint Mining: 38%
- Long-term development fund: 18%
- Backers: 16.5%
- Strategic Round Token Sale: 4.5%
- Development team: 10%
- Public Token Sale: 8%
- Advisor: 5%
What is MANTA token used for?
- Staking: Users can use MANTA to participate in staking and receive rewards
- Burning: MANTA tokens will be burned depending on the market situation and this is the project's deflation mechanism.
- Governance: MANTA holders will be able to vote on important issues within the network
Airdrop
On January 5, 2024, Manta Network conducted the first airdrop of MANTA tokens for users using the project's products on Manta Pacific and Manta Atlantic.
In the near future, the project will continue to be plannedairdrop of 50 million tokensfor users who have bridged assets to Manta Pacific.
Development team
Manta Network's development team is a collection of professors and scholars with extensive experience in the cryptocurrency market. Prominent members of the project team include:
Development team
- Shumo Chu (Co-Founder): He is working as an Assistant Professor at UC Santa Barbara and a Systems researcher at Algorand. He has experience working with the world's leading crypto researchers who have won the Turing Award (Computer Science Association award).
- Kenny Li (Co-Founder & COO): He graduated with an MBA from MIT Sloan and has more than 10 years of experience in expanding Startup companies. He has known Bitcoin since 2013 and has extensive experience working on various Blockchain projects.
- Victor Ji (Co-Founder): He has a master's degree in Harvard economics, and is also the president of the Blockchain and Cryptocurrency Club of Harvard Kennedy School.
Investors
Through many different capital calls, Manta Network has received an investment amount of up to 60 million USD. These capital calls have the participation of leading investment funds such as:Binance LabsandPolychain Capital, ParaFi,Spartan, …
Investors
Partner
Manta Network's prominent partners include:Acala, ChainX, Parallel,…
Featured partner of Manta Network
summary
Manta Network initially intended to build a Layer 1 blockchain network on Polkadot, but this direction of the project was not really successful. Recently, the project has continued to launch a Layer 2 solution called Manta Pacific with a fairly complete ecosystem. This solution has quickly attracted TVL of more than 700 million USD.
With the interest of many investors in Manta Network's Layer 2 product, we can see that the project has great development potential in the upcoming bull run period of the cryptocurrency market. Through this article, you probably have some basic information about the project to make your own investment decision.
