Manta Network Cooperates with Celestia to Optimize Transaction Fees

Manta Network cooperates with Celestia to optimize transaction fees

On December 18, 2023, Manta Pacific, a layer-2 blockchain of Manta Network focusing on zero-knowledge (ZK) applications, officially announced its partnership with Celestia. Celestia is a pioneering project in the field of modular blockchain.

In this cooperation agreement, Celestia allows Manta Pacific to use the Data Availability (DA) solution to provide storage bandwidth for multiple layer-2 at the same time. Through the light node network on Celestia, the project is able to verify DA without putting great pressure on the entire system. From there, it is possible to optimize transaction costs for users.

Manta Network is a Layer-1 blockchain built on the Substrate software framework and supports Polkadot’s entire DeFi ecosystem. Notably, according to the initial announcement, Optimism’s OP Stack would support scaling, but Manta Network later changed to Polygon’s layer-2 development kit (CDK).

In July 2023, p0x labs – the development unit of Manta Network – successfully raised $25 million in Series A round, led by Polychain Capital and Qiming Venture Partners, with the participation of Binance Labs. Bringing the total capital raised to more than 30 million USD. This round of capital raising has brought the total valuation of the project to 500 million USD.

In the announcement, Mr. Kenny Li, founder and core member of Manta Network shared:

“We are taking Manta Pacific to the next level by partnering with Celestia, bringing a secure and cost-effective network environment to users.”

In addition to Manta Pacific, there are a number of other rollup projects that have also decided to cooperate with Celestia. Typical examples are Polygon Labs’ layer-2 development toolkit and Arbitrum’s Orbit toolkit to handle the Data Availability process.

Related: What is Celestia (TIA)? Celestia Cryptocurrency Overview

TVL of Manta Network

In the announcement, the founder of Manta Network also revealed that in just over two months since the official launch of the mainnet in September 2023, the total value locked (TVL) of the project has exceeded 20 million USD.

Total value locked (TVL) on December 19, 2023 on defillama