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Polkadot-based privacy layer project, Manta Network, is all set to witness the launch of its upcoming token event called ‘Squad Game’, which, as the name suggests, is a play on the title of the popular tv show Squid Game. While nowhere close to being as gruesome as its Netflix counterpart, Squad Game does share a similarity with its Netflix counterpart insofar that it uses a round-by-round system to help facilitate its issuance-related matters. Lastly, as a fun fact, a group of Manta tokens is referred to as a ‘Squadron’ of Manta, hence the name.
It should be pointed out that Squad Game will be open only to members of the project’s fast-growing community, allowing individuals to acquire MA (Manta) tokens by virtue of their participation alone. Also, it is worth mentioning that news of the event’s launch comes right after the project was able to raise $5.5-million worth of funding from more than 30 venture funds, including established financial entities such as CoinFund and ParaFi Capital.
In terms of what the Manta Network is all about, the platform can be thought of as a decentralized ecosystem that delivers plug-and-play privacy for any project operating within the burgeoning decentralized finance (DeFi) market. Technically speaking, Manta can be viewed as a layer-1 protocol that is designed to help leverage the power of zkSNARK proofs allowing for the facilitation of real-time, algorithmically private on-chain transactions.
So what exactly is Squad Game all about?
As mentioned earlier, Squad Game is Manta Network’s upcoming token distribution event. It is open only to the project’s core backers, allowing them to be one of the first people to own Manta tokens. These coins are multifaceted and are used by their owners for a variety of reasons, including the ability to participate in the platform’s native decision-making processes via things like on-chain governance voting.
The event is invite-only and will commence through two distinct rounds. In this regard, it should be pointed out that participants of both rounds 1 and 2 need to have received an official invite via email as well as have passed a specific KYC check. The registration and KYC processing window is now open and will continue to remain so until November 9.
