Attract attention with high incentives
Manta Network (manta) is scheduled to be listed on major overseas cryptocurrency exchanges including Binance at 19:00 on January 18th Japan time, and is attracting the attention of cryptocurrency investors and traders.
On January 16th, it became a Binance launch pool stock, and 30,000,000 MANTA, which is 3% of the total MANTA token supply of 1,000,000,000, was eligible for rewards.
What is Manta Network?
Manta Network is a rapidly growing layer 2 (L2) ecosystem powered by zero-knowledge proofs (ZKs) backed by a number of web3 investment funds including Polychain Capital and Binance Labs. The network is built as a modular ecosystem designed for scalable, next-generation decentralized applications (dApps).
The main components of Manta Network include two networks. The first is Manta Pacific, a modular L2 ecosystem built on Ethereum (ETH). The network provides a scalable and cost-effective gas fee environment for next-generation dApps to grow beyond the limitations of traditional Ethereum Virtual Machine (EVM) environments.
The second is “Manta Atlantic”, which is the fastest (currently) ZK Layer 1 (L1) chain on Polkadot (DOT). Manta Atlantic brings programmable ZK-powered confidential on-chain identities and credentials to Web3 and accomplishes this through zk-SNARKs-based tokens (zkSBTs).
Manta Network provides a unique environment for meeting the scalability demands of dApps, taking a modular approach to meet current and future market needs. This new approach makes Manta Network an attractive option for dApps developers and users.
According to L2Beat, a website that conducts analysis and research on L2 scaling, Manta Pacific is currently in third place with a total TVL (total collateral value) of approximately $900 million, overtaking Coinbase’s Base chain and Metis. It’s a scaling solution.
One of the points that attracts attention to Manta Network is the design of multiple campaigns and incentive rewards based on products. Additionally, low gas and other usage charges (leveraging Celestia’s data availability) seem to be a big draw for users.
In addition, the types of incentives offered are diverse, and incentive designs that incorporate game-like elements have increased user participation and engagement by making it possible to pursue rewards while having fun.
Below are some of the major campaigns conducted by Manata Network.
Manta Pacific is the first L2 to introduce interoperability of “Yield-bearing tokens”, and is the first L2 to introduce interoperability of “Yield-bearing tokens”. This makes it possible to provide more incentives to users than traditional DeFi projects.
DeFi products like this will continue, although the ongoing campaign is aimed at long-term users.
Additionally, the overall distribution of tokens will be distributed over several years.
Expectations for listing and risks associated with listing
On the other hand, TVL, which had surged due to a series of campaigns, plummeted after the token distribution on January 18th as investors saw this as the end of the period during which they needed to lock their ETH in Manta Pacific, and their funds were transferred to other It is important to note that there is a possibility of moving to a protocol that requires staking.
Also, please be aware that the volatility of the token price may increase immediately after the token is listed on the exchange on January 18th.
connection: Growth areas of the virtual currency market that Binance will focus on in 2024, such as the Bitcoin ecosystem and DePIN