Comprising two pivotal components, Manta Pacific and Manta Atlantic, the Manta network leverages Celestia’s modular data availability layer to deliver a fast infrastructure at a fraction of the cost of conventional Layer 2 (L2) rollups.
On January 15th, Binance announced its 44th launchpool project – Manta Network (MANTA).
This marks the initiation of a modular layer-two solution (L2) designed for zero-knowledge proof (ZK) applications. But what exactly is Manta Network? Let get deeper
Manta Network: A Modular Marvel for ZK Applications
Manta Network emerges as a contender in the modular blockchain landscape, purpose-built for the development of zero-knowledge (ZK) applications. Comprising two components, Manta Pacific and Manta Atlantic, this network aims to redefine the way we approach decentralized applications (dApps).
1. Manta Pacific: Laying the Foundation for ZK Applications on Ethereum
Manta Pacific is a Layer 2 (L2) ecosystem operating on Ethereum, specifically optimized for EVM-native ZK applications. Its primary focus is on providing a scalable and cost-efficient environment for deploying ZK applications, with an emphasis on leveraging Solidity.
The modular structure, coupled with Celestia’s data availability, ensures scalability while keeping gas fees at a minimum. Manta Pacific is inherently developer-centric, offering Software Development Kits (SDKs) and proof keys for seamless integration of on-chain identity in decentralized applications (dApps).
2. Manta Atlantic: Pioneering ZK Compliance Credentials on Polkadot
Simultaneously, Manta Atlantic operates as a swift ZK Layer 1 (L1) chain on Polkadot, concentrating on programmable identities and credentials.
Here, Manta introduces zkSBTs (Zero-Knowledge Simple Barter Tokens), facilitating a private, reusable, and auditable address system known as zkAddresses. Notably, Manta Atlantic’s interoperability allows seamless interactions with other projects without the need for intricate cryptographic processes.
This layer extends its support to various applications, including zkNFTs, staking, and diverse ecosystem projects.
Manta Network Token allocation is as follows:
Manta Founding Team
Originating from a team of experts with backgrounds from institutions like Harvard, MIT, and Algorand, Manta Network has attracted investments from leading entities in the web3 sector.
Binance Labs and Polychain Capital, along with support from top-tier web3 accelerators, position Manta Network as a torchbearer for the next generation of web3 application development. Founded in 2020 by Victor Ji, Shumo Chu, and Kenny Li, Manta Network operates as a privacy-focused protocol on the Polkadot blockchain and is a venture of P0x Labs.
Manta Network recently achieved a notable milestone, reaching a valuation of $500 million following a successful $25 million Series A funding round. Crypto-centric Polychain Capital and Qiming Venture Partners, known for their strong presence in web3 and backing projects like the imToken wallet and InfStones, led this funding round.
Recently, Binance announced Manta Network as the 44th project on Binance Launchpool – Manta (MANTA). The webpage is set to be available in 5 hours before the Launchpool commences. Users will have the opportunity to stake their BNB and FDUSD into separate pools to farm MANTA tokens over two days, with farming starting from 2024-01-16 00:00 (UTC).
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