Exploring Manta Network: An In-Depth Project Overview

Nearly a Month Post-Launch: Manta Network ranks 12th in Total Value Locked (TVL) with $494.2 million, surpassing Base, Cardano, and zkSync Era. Discover what makes this platform a standout in the blockchain ecosystem.

What is Manta Network?

Manta Network is an EVM-compatible platform optimized for zero-knowledge proof (ZKP) applications. It combines scalability, security, and a multi-module environment, offering two specialized blockchains and comprehensive Web3 development tools.

Key Features:

• EVM Compatibility: Seamless integration with Ethereum-based applications.
• Dual-Layer Architecture: Manta Pacific (Layer 2) and Manta Atlantic (Layer 1).
• ZK Proof Focus: Enhances privacy and scalability for decentralized apps (DApps).

The Story Behind Manta Network

Developed by p0xeidon labs—a team with members from Harvard, MIT, and Algorand—Manta Network pioneers ZKP applications to address blockchain scalability challenges. Their mission is to bridge ZKP innovation with Ethereum’s ecosystem.

👉 Discover Manta Network’s latest developments

Manta Network’s Mission

The core goal is to create the first EVM-compatible platform for ZKP applications, resolving Ethereum’s compatibility issues. This ensures:

• Interoperability: Projects on Manta can run on Ethereum (and vice versa).
• Security: Leverages Ethereum’s robust infrastructure.
• Developer Tools: Access to Solidity-based ZK app development via Universal Circuits.

How Does Manta Network Work?

1. Manta Pacific (Layer 2 on Ethereum)

• Purpose: Optimized for ZK applications on EVM.
• Technology: Uses Celestia for data availability and zkEVM for scalability.

• Key Features:

  • Low gas costs.
  • Simplified ZK app development with Solidity.
  • SDK and proof keys for developers.

2. Manta Atlantic (Layer 1 on Polkadot)

• Purpose: Private, reusable credentials via zkSBTs (zkAddresses).
• Applications: Supports zkNFTs, staking, and cross-chain compatibility.

MANTA Tokenomics

Launched on January 18, 2024, the MANTA token serves three primary roles:

1. Transaction Fees: 72% fees fund ecosystem growth; 10% reward block producers.
2. Governance: Holders vote on project upgrades and partnerships.
3. Security: Used for staking in Manta’s Proof-of-Stake network.

Token Distribution:

• Total Supply: 1 billion MANTA.

• Allocations:

  • Community/Ecosystem: 21.19%
  • Public/Private Sales: 20.94%
  • Team/Advisors: 18.1%
  • Airdrops: 12.1%

👉 Learn more about MANTA token utility

Vesting Schedule: Full supply unlocked by September 2030. Initial price surged 70% post-launch, reflecting strong buyer interest.

Funding and Team

• Total Raised: $60.4 million (48% public sales, 52% institutional).
• Investors: Polychain Capital, Binance Labs, Multicoin Capital, and 30+ VCs.

• Founders:

  • Shumo Chu (Algorand researcher).
  • Victor Ji (Harvard Blockchain Dean).
  • Kenny Li (Serial entrepreneur).

Why Manta Network Stands Out

1. Innovative L2 Solution: ZKP-powered scalability for Ethereum.
2. EVM Compatibility: Unmatched developer flexibility.
3. Dual-Layer Design: Combines ZK apps (Pacific) with private credentials (Atlantic).
4. Strong Backing: Tier-1 investors and academic expertise.
5. Community-Centric: 56 million MANTA distributed via airdrops.

Conclusion

Manta Network merges privacy, scalability, and EVM compatibility to redefine ZKP applications. With robust tokenomics and elite backing, it’s poised to shape Web3’s future. A must-watch for developers and investors alike.

FAQ

1. What is Manta Network’s primary use case?
It’s an EVM-compatible platform for ZKP applications, enhancing Ethereum’s scalability and privacy.

2. How does Manta Pacific differ from Manta Atlantic?

• Pacific: Layer-2 for ZK apps on Ethereum.
• Atlantic: Layer-1 for private credentials on Polkadot.

3. What’s unique about MANTA tokenomics?
70% of fees fund ecosystem growth, with a community-centric distribution model.

4. Who are Manta Network’s key investors?
Polychain Capital, Binance Labs, and Multicoin Capital lead the funding.

5. How can developers build on Manta?
Use Solidity and Manta’s SDK to deploy ZK apps with low gas costs.

6. When will all MANTA tokens be released?
By September 2030, per the vesting schedule.