- Manta Network achieves Top 3 status in Ethereum L2 with $850M TVL.
- Manta New Paradigm offers 5% native yields alongside attractive rewards.
Manta Network, a prominent multi-modular ecosystem designed for zero-knowledge (ZK) applications stands at the forefront of innovation in the crypto space by introducing two networks that redefine the landscape.
The first of its kind, Manta Pacific, establishes itself as a distinctive Layer 2 (L2) ecosystem operating on the Ethereum platform. Tailored for Ethereum Virtual Machine (EVM)-native ZK applications, Manta Pacific offers a scalable and cost-effective gas-fee environment. It simplifies the deployment of ZK applications by seamlessly integrating Solidity, providing solutions within the Ethereum ecosystem.
On the other hand, Manta Atlantic takes center stage as the fastest ZK Layer 1 (L1) chain within the Polkadot network. It introduces programmable identities and credentials to the web3 landscape through its implementation of zkSBTs. This not only enhances the speed of transactions but also brings a new level of versatility and efficiency to the decentralized web.
Manta Network Sets Record-Breaking Achievements
Manta Network’s journey began more than three years ago when it secured a $1.1 million Seed round in February 2021, supported by prominent investors such as Multicoin Capital and Polychain Capital. The initial success fueled the project’s momentum, leading to another significant funding round in October 2021, where Manta Network raised $5.5 million with participation from ParaFi Capital, The Spartan Group, and others.
Continuing its growth, Manta Network conducted a public sale on the Tokensoft platform in November of the same year. During this sale, 80 million tokens were sold for $0.36 each, generating an additional $28.8 million in funding. It’s important to note that during this period, the project was still in development on the first-level blockchain of Manta Atlantic within the Polkadot ecosystem. However, in 2023, Manta Network successfully launched on the Manta Pacific blockchain.
The project’s achievements continued as it raised an impressive $25 million in its Series A round in July 2023, reaching a valuation of $500 million. This funding round attracted notable investors such as Polychain Capital, Qiming Venture Partners, and Coinfund, amongst others.
The Series A round indicates significant confidence from investors, likely involving a token offering with a valuation of $0.5 per token in what became a billion-dollar token offering for Manta Network.
‘Since the last raise, Manta has been on the rise with the Manta Pacific’s Total Value Locked (TVL) crossing $850M and solidifying its position as the fastest-growing Layer 2 blockchain. Achieving Top 3 status in Ethereum L2, the platform has processed over 8 million on-chain transactions and accumulated 529,000 wallet addresses within 100 days of the mainnet launch.
Manta New Paradigm Unveils Native Yields and Attractive Rewards
The latest addition to the Manta Network ecosystem is Manta New Paradigm, a Layer 2 blockchain inspired by Paradigm. In alignment with Blast’s strategy, Manta New Paradigm offers native yields on Ethereum and USDC at an attractive rate of ~5%. Achieving this involves staking ETH and US Treasury Bonds, with deposited funds locked for 69 days from the day of token launch.
Apart from native returns on deposits, Manta New Paradigm presents various enticing rewards for users, including a future airdrop of the Manta token, immediate access to liquid STONE and wUSDM tokens, additional rewards from Manta Pacific ecosystem projects, restacking stETH in EigenLayer, and NFT Box Pieces for depositing and inviting friends.
Airdrop Extravaganza – ‘Into the Blue’
Manta Network recently announced the commencement of its expansive airdrop campaign, aptly named ‘Into the Blue’ – it has been the talk of the town since. The initiative seeks to distribute a substantial 50 million MANTA tokens among long-standing users and advocates, reinforcing the company’s unwavering commitment to nurturing its ecosystem.
The ‘Into the Blue’ airdrop campaign adopts a dual structure, featuring two distinct segments designed to provide a comprehensive and engaging reward system for its diverse user base.
The community members participating in IntotheBlue, the official MantaNetwork airdrop of MANTA tokens can officially claim their rewards starting on January 18, 2024
In summary, Manta Network has rapidly risen to prominence as a leading EVM-native modular Layer 2 blockchain, boasting groundbreaking achievements such as low-cost transactions, robust privacy features, and substantial funding milestones. The recent addition of Manta New Paradigm introduces native yields and enticing rewards, while the ‘Into the Blue’ airdrop campaign underscores Manta’s commitment to fostering a vibrant community.
