token has rapidly gained popularity since its listing in mid-January 2024. Crypto World researchers note that a significant leap in progress is expected soon within the Manta Network, impacting the entire DeFi industry. In this article, we explore the reasons behind this trend and why so many want to include the MANTA token in investment portfolios in 2024.
MANTA is the governance token of the Manta Network, which is distinguished by its high level of privacy ensured by its protocols. It is an ERC-20 standard token based on the Ethereum network (), with a total supply of 1,000,000,000 tokens.
Key features of the token:
- Deflationary in nature;
- Suitable for staking;
- Allows participation in the governance of the Manta Network.
The Manta Network project was launched in 2020 by American developers, crypto analysts, and programmers with extensive experience in cryptocurrencies and blockchain. Initially conceived as a set of secure and user-friendly decentralized protocols with open-source code, it is based on the Substrate framework.
In the early stages, large companies were attracted to the project for funding and promotion. Among the major investors in MANTA are Polychain Capital, Qiming Venture Partners, Alliance DAO, CoinFund, SevenX Ventures, The Spartan Group, CMS Holdings, CoinFund, and Global Coin Research. On January 18, BINANCE listed the MANTA token.
Why is Manta Network Attractive?
The new network challenges traditional controls exercised by financial institutions. DeFi projects eliminate tracking, data leaks, and associated manipulations. Despite the concepts of free and secure data handling, decentralized platforms still face privacy issues. Projects like Manta Network aim to address this by implementing new technologies.
Manta Network is a multi-layered smart contract platform using zero-knowledge proof mechanisms and the Celestia DA data availability solution.
Manta Network comprises two networks:
- Manta Pacific. A unique network based on zk-Rollup technology, serving as an L2 solution for scaling the Ethereum network. It operates with support from the Ethereum Virtual Machine (EVM)
- Manta Atlantic. The fastest Level 2 network based on Polkadot and ZK technologies. This network offers identifiers and credentials in Web3 using zkSBT.
Where Can MANTA Token Be Used?
The MANTA token economy encourages user participation in the Manta Network ecosystem. Token use in the network includes:
- Passive income for holders. MANTA owners earn interest from productive revenue redistribution within the network through efficient technological resource allocation.
- Active participation and development income. Developers and active Manta Network users receive income from retroactive funding of on-chain activities. Revenues are retained within the system to support new projects, develop progressive solutions, and ensure public goods.
- Support for all community participants. The ecosystem continually incentivizes its members to continue their activities and promote products. Through simple actions within Manta Network (e.g., token exchanges), users can receive bonuses.
- Exchange and management. MANTA serves as the internal currency of the Manta Network, facilitating peer-to-peer transfers and transactions with smart contracts. Tokens also serve as a means to manage solutions within the protocols. MANTA holders have the right to participate in significant discussions within the ecosystem, engage in referendums, and influence governance.
Key Aspects of the MANTA Project
Let’s take a look at main features of MANTA network:
- Generalized ZK. Manta Pacific offers a set of generalized ZK circuits, providing developers with tools to create applications with ZK support.
- Own profitability. Token profitability support is based on ETH and USDC.
- Permissionless usage. The MANTA Network project is a public L2. All developers have equal opportunities to create their scalable dApps.
- zkEVM Type 1. Manta Pacific uses Polygon CDK to create zkEVM Type 1, ensuring the operation of EVM on L2.
How to buy MANTA?
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The MANTA Network and its token, MANTA, emerge as standout prospects for 2024 in the cryptocurrency realm. Boasting essential features like deflationary dynamics, staking options, and active governance participation, MANTA has garnered considerable anticipation.
The network's commitment to tackling privacy concerns in DeFi through innovative technologies like zero-knowledge proofs is commendable. MANTA's multi-layered structure, incorporating Manta Pacific and Manta Atlantic, showcases adaptability and scalability, catering to diverse technological needs.
The recent Binance listing, a notable milestone, enhances accessibility and liquidity for the MANTA token. With support from major investors and early-stage backing from prominent companies, MANTA is on a promising trajectory.
The easiest way to buy, sell or exchange coins is to use SimpleSwap services
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