What is Manta Network? 44th Project on Binance Launchpool

Table of Contents

What is Manta Network?

Manta Network is a unique project with three advanced networks using Zk Rollup technology, including:

Manta Pacific: Is a layer 2 blockchain built on Ethereum with high compatibility with zkEVM, similar to Scroll or Polygon zkEVM. In addition, Manta Pacific integrates Celestia’s Data Availability infrastructure, expanding the network’s data storage capabilities.
Manta Atlantic: Is a layer 1 blockchain belonging to the Polkadot system. Manta Pacific aims to create an anonymous blockchain with multi-chain interoperability and high throughput, using zk-SNARK technology.
Calamari Network: Is a layer 1 blockchain belonging to the Kusama network, sharing source code with Manta Atlantic. Therefore, Calamari Network is responsible for being a testing environment, allowing developers to deploy and evaluate new functionalities before deploying them to Manta Atlantic.

https://manta.network/

This is Binance’s 44th Launchpool project after XAI.

Product of Manta Network

Manta Pacific

Manta Pacific is a Layer 2 ecosystem on Ethereum specifically designed for EVM compatible ZK applications. This blockchain brings low gas fees and scalability to ZK applications through the integration of the Solidity programming language.

Highlights of Manta Pacific:

EVM Compatible: Manta Pacific is built with full Ethereum Virtual Machine (EVM) compatibility, making it easy to migrate and deploy applications from the Ethereum environment to Manta Pacific.
Manta’s Universal Circuits: Manta’s Universal Circuits feature enables convenient ZK application development using the Solidity programming language. This simplifies the application development and deployment process on the Manta Pacific blockchain.
Scalability and low transaction fees: Manta Pacific provides high scalability and low transaction costs for ZK applications through the combination of zkEVM technology and data availability solution from the Celestia project . This facilitates application development and deployment without cost and performance limitations.

Manta Atlantic

Manta Atlantic (Layer 1) is part of the ecosystem on Polkadot, so this network can be considered a Parachain and has the ability to expose security from Polkadot. Manta Atlantic mainly focuses on providing anonymity, meeting the internal transaction needs of organizations and businesses.

Specifically, Manta Atlantic uses zk-SNARK technology, allowing users to convert tokens on Polkadot into private tokens on Manta Atlantic – anonymous tokens that are not public. This helps users and organizations conduct internal transactions on Manta Atlantic without worrying about revealing information to the community, similar to transactions on CEX.

In addition, Calamari Network uses the same source code as Manta Atlantic, so its structure and operating model are similar to Layer 1 on Polkadot. This brings uniformity and consistency between Manta Atlantic and Calamari Network, making it easier to deploy and evaluate new functionality before it is officially integrated into Manta Atlantic.

Highlights of Manta Network

Here are some highlights of Manta Network:

zkEVM Type 1: Manta Pacific Blockchain is considered Type 1 as it is fully compatible with Ethereum. Manta Pacific guarantees full compatibility with all applications on Ethereum, and hash functions or Merkel proofs will not undergo any changes compared to Ethereum.
ZK Toolkit: Manta provides the ZK toolkit with Solidity language – the language of smart contracts on Ethereum. This helps developers integrate ZK technology into their dApp products easily.
Supporting Diverse User Needs: Manta Network is one of the rare projects that develops two networks to meet two different user profiles. For those who prioritize anonymity and insider trading, Manta Pacific is the ideal choice. At the same time, for the group of people who prioritize networks with cheap transaction fees and good scalability, Manta Pacific still meets all their expectations.

Overview of MANTA tokens

Basic information

Token name: Manta Network.
Ticker: MANTA.
Blockchain: Manta, Ethereum.
Token type: Utility, Governance.
Total Supply: 1,000,000,000 MANTA.
Circulating Supply: 251,000,000 MANTA

Token Allocation

Ecosystem/Community: 21.19%
Foundation Treasury: 13.5%
Private Investor: 19.94%
Team: 10%
Advisor: 8.1%
Public Investor: 8%
New Paradigm (Airdrop 2): 6.5%
Strategic Investor: 6.17%
Airdrop: 5.6%.
Institution Investor: 5%
Binance Launchpool: 3%

Token Use Cases

MANTA token holders enjoy the following benefits:

Participate in governance and voting of Manta Atlantic and Manta Pacific projects.
Pay transaction fees on the Manta Atlantic network.
Join the staking activities.

Token Release Schedule

Below is the payment schedule of MANTA token:

Token Sale

As for the MANTA token sale, on January 16, 2024, Binance listed the MANTA token on Binance Launchpool. Specifically, users can stake BNB and FDUSD to receive MANTA (maximum 2 days).

The amount of MANTA allocated to each pool is as follows:

BNB pool: 24,000,000 MANTA.
FDUSD pool: 6,000,000 MANTA.

To participate in Launchpool, you can register for a Binance account here.

Project team

The team behind Manta Network includes:

Kenny Li: Co-founder of Manta Network, he is an alumnus of MIT University, where he graduated in Business Administration. MIT is one of the top universities in the world.

Victor Ji: Co-founder of Manta Network, he is also an alumnus of Harvard, one of the world’s leading universities, with a degree in Public Administration.

Shumo Chu: Co-founder of Manta Network, he holds an Assistant Professor position at the University of California, Santa Barbara and is a Systems researcher at Algorand. He has experience working with the world’s leading researchers in the crypto field, some of whom are Turing Award winners (an award from the Association for Computer Science).

Investors

Currently, Manta Network has gone through four rounds of funding including:

February 2, 2021: Manta team calls Seed capital round with an amount of 1.1 million USD, with the participation of Polychain Capital, Multicoin Capital…
October 19, 2021: Manta Network continues to call for Series A capital round with an amount of 5.5 million USD from Spartan Group, ParaFi Capital, LongHash Venture…
November 10, 2021: Manta opens ICO for 0.36 USD/MANTA. The project has sold 80,000,000 MANTA, equivalent to 28.8 million USD. In addition, these tokens will be unlocked after 40 days, starting from the time Manta launches the token.
July 19, 2023: Manta raises Series A funding of $25 million, led by Polychain Capital and valued at $500 million.

In addition, the Manta Network team also successfully raised capital of 9.1 million USD from Crowdloan token sale on Kusama.

Through many different funding rounds, Manta Network has attracted a total investment of up to 60 million USD. These capital calls have the participation of leading investment funds such as: Binance Labs and Polychain Capital, ParaFi, Spartan, …

Partners

Manta Network’s strategic partners are currently very diverse and notable, including many major partners in the crypto market, from investment funds to Web3 projects. Some typical examples are Celestia, Dora Factory, Polygon, LayerZero…

Roadmap and updates

Q4/2023:

Launching Manta Pacific 2 mainnet version.
Manta Atlantic version mainnet and Ceslestia Data Availability integration.

Q1/2024:

Testing zkEVM on testnet.

Q2/2024:

Launching Manta Pacific Beta mainnet.
Bring zkEVM to mainnet.
Testing Universal Circuit 2.0, Zk-as-a-Service.

Q3/2024:

Mainnet version Manta Pacific Production 1.
Complete Universal Circuit and upload to mainnet.