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Altcoin Review

What Is Manta Network (MANTA)? A Comprehensive Guide

Author

Jay Solano

Tags

Tags Editor's Choice / Slider Posts

Reading time

4 mins
Last update

Author

Jay Solano

Tags

Editor's Choice / Slider Posts

Category

Altcoin Review

Reading time

4 mins
Last update

Author

Jay Solano

Tags

Editor's Choice, Slider Posts

Reading time

4 mins
Last update


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manta network

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Key Takeaways

  • Manta Network is the first modular blockchain built on top of Celestia (TIA), and it also integrates the EigenLayer protocol for restaking.
  • The network is also built using Zero-Knowledge (ZK) technology, plugging into all of the latest technology in the scaling solution space right now.
  • They are also one of the most popular token launches in early 2024, having raised over $60 million from top investors such as Binance Labs, CoinFund, etcetera.

What Is Manta Network (MANTA)?

Founded in 2020, Manta Network is a groundbreaking modular blockchain with a two-layer structure: the Manta Pacific on Ethereum for layer-2 Solutions, and Manta Atlantic on Polkadot for layer-1 solutions. The project also brings programmable identities and credentials to Web3 through Zero-Knowledge Soul-Bound-Token (ZK SBTs), bringing private on-chain data verification methods especially for mobile applications.

Manta Network aims to be a game-changer in the blockchain space as a privacy protocol, and the project paints a future where privacy reigns supreme in the blockchain world. They envision a space where you, the user, control 100% of your data, participating anonymously and securely in all that Web3 offers.

How Does Manta Network (MANTA) Work?

Manta Network allows the creation of applications that use Zero-Knowledge proofs, a cryptographic method that allows one party to prove knowledge of specific information without revealing the information itself and leveraging technologies like Celestia for data availability.

Manta Network has two main segments or layers:

  • Manta Pacific (Layer-2) – Manta Pacific’s main feature includes universal circuits which ease the development of ZK applications using Solidity, a programming language commonly used for smart contracts development on the Ethereum blockchain.
  • Manta Atlantic (Layer-1) – This layer is centered around ZK compliance credentials. Manta Atlantic implements these Zero-Knowledge proofs to ensure compliance with certain credentials enhancing privacy and security.

So together, Manta Pacific and Manta Atlantic will deliver a unique experience for the next generation of Web3 application development and the adoption of the ZK cryptography.

Interoperability

Manta Network facilitates seamless interaction between Manta Pacific and Manta Atlantic through the cBridge cross-chain bridge powered by Celer. This bridge enables users to freely transfer assets, especially the native governance token of the Manta Network, MANTA, between both chains.

Manta Network (MANTA) Token And Tokenomics

Manta Network’s native token, MANTA, serves as the utility token for the network, powering various functionalities within the ecosystem. Here’s a breakdown of the token and its tokenomics:

Token Details

Total Supply 1,000,000,000 MANTA

Circulating Supply 251,000,000 MANTA

Current Price $2.96

Market Capitalization $738,837,906

This information is current as of March 7th, 2024. Please note that the token’s price, market value, and available supply may fluctuate.

Distribution

  • Ecosystem/Community: 211.90 million (21.2%)
  • Foundation Treasury: 135 million (13.5%)
  • Private Round: 129.40 million (12.9%)
  • Team: 100 million (10.0%)
  • Advisors: 81 million (8.1%)
  • Public Sale: 80 million (8.0%)
  • Airdrop 1: 56 million (5.6%)
  • New Paradigm (Airdrop 2): 65 million (6.5%)
  • Strategic Investors: 61.70 million (6.2%)
  • Institutional Investors: 50 million (5.0%)
  • Binance Launchpool: 30 million (3.0%)

Where Can I Buy Manta Network (MANTA)?

Manta Network (Manta) is available on these cryptocurrency exchanges:

  • Binance: Another major exchange with a wide range of cryptocurrencies, including PYTH. Binance offers multiple ways to buy crypto, including using credit cards, debit cards, and peer-to-peer (P2P) trading.
  • Bybit: This exchange is known for its derivatives and margin trading features, but you can also use it for spot trading MANTA.
  • KuCoin: A smaller exchange is known for its competitive fees and support for a large number of cryptocurrencies.

Please note that availability may vary depending on your location and the regulations in your country. Always make sure you are using reputable and secure exchanges when buying cryptocurrencies, and consider storing your tokens in a secure wallet for added security.

Still struggling to find MANTA? Head over to CoinMarketCap, search for “Manta Network (MANTA),” and explore the “Markets” tab. This will reveal a list of exchanges where the token is actively traded, allowing you to compare options and find the one that best suits your preferences.

Is Manta Network (MANTA) A Good Investment?

Whether Manta Network (MANTA) is a good investment for you will heavily depend on your investment goals and risk tolerance. Here’s a quick overview:

Pros:

  • Unique technology: Manta Network offers a unique layer-1 and layer-2 scaling solution that aims to address the scalability issues faced by many blockchains. This technology has the potential to be disruptive and could lead to widespread adoption.
  • Strong team and backing: The team behind Manta Network has a strong track record and includes experienced individuals from prestigious institutions like Harvard, MIT, and Algorand. Additionally, the project has received backing from prominent crypto investment firms.
  • Growing community: Manta Network has a growing and engaged community of supporters. This can be a positive sign, as it suggests that there is interest in the project.

Cons:

  • High risk: The cryptocurrency market is inherently volatile and risky as it only came out recently in the crypto markets.
  • Early stage: Manta Network is still in its early stages of development, and its technology has not yet been fully proven. This means there is a higher degree of uncertainty associated with the project.
  • Competition: There are many other blockchain projects working on similar solutions, and Manta Network will need to compete effectively to gain market share.

Ultimately, it’s crucial to remember that newer cryptocurrencies are highly speculative and volatile. Do your own research, understand the risks, and never invest more than you can afford to lose.

Final Thoughts

Backed by a strong team and significant investments from top players in the industry, Manta Network envisions a future where users have complete control over their data, participating anonymously and securely in the decentralized ecosystem.

While the project holds promise, potential investors should exercise caution due to the inherent volatility of the cryptocurrency market and the early stage of Manta Network’s development, ensuring thorough research and understanding of the associated risks before considering investment.