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Manta network

Manta Network (MANTA)

Manta Network is an advanced ecosystem designed for zero-knowledge (ZK) applications. It includes two networks, Manta Pacific and Manta Atlantic, aimed at enhancing the development and adoption of Web3 applications using zero-knowledge cryptography.

History of Manta Network

Manta Network was established in 2020 by co-founders Victor Ji and Shumo Chu, with Kenny Li as the COO and co-founder. Their goal was to enhance privacy in existing DeFi solutions. The company secured its initial funding of $1.1 million from 10 investors, including Polychain, on February 2, 2021. Over four additional funding rounds, 30 investors contributed a total of $60.4 million. The Manta Pacific Testnet began on July 19, 2023, and the mainnet was launched on September 12, 2023.

Ticker MANTA
Category Smart Contract Platform
Website https://manta.network/
Twitter @MantaNetwork
Contract Addresses
manta-pacific 0x95...e5Copied!

Overview of Manta Network

Manta Network provides a software development kit and a ZK library designed for ease of use by developers. Founded by a team with academic backgrounds from prestigious institutions like Harvard, MIT, and Algorand, Manta Network enjoys support from top Web3 investment funds, including Binance Labs and Polychain Capital. The network aims to facilitate the next generation of Web3 users through its dual networks, Manta Pacific and Manta Atlantic.

Ecosystem of Manta Network

Manta Pacific

Manta Pacific is a layer 2 blockchain built on Ethereum, compatible with zkEVM, similar to Scroll or Polygon zkEVM. It incorporates Celestia’s data availability infrastructure, enhancing data storage capabilities. Manta Pacific applies the Manta team's zero-knowledge expertise in a scalable EVM environment, tailored for deploying ZK applications.

Features and Advantages

  • Features:

    • Offers programmable ZK as an EVM-native L2.
    • Universal Circuits for easy ZK application development using Solidity.
    • High scalability and low transaction fees via Celestia and zkEVM.

  • Advantages:

    • Developer-friendly ZK library for Solidity smart contracts and dApps.
    • Non-invasive compliance using zkSBTs like Galxe.
    • Modularity for reduced gas fees and high scalability.

Manta Atlantic

Manta Atlantic is a layer 1 blockchain within the Polkadot system, designed for anonymous blockchain operations with multi-chain interoperability and high throughput, using ZK-SNARK technology. It supports modular on-chain compliance identities, simplifying identity management for other projects through a ZK-powered, interoperable compliance credential layer.

Tokenomics of Manta Network

Manta Token ($MANTA)

$MANTA is the native token of Manta Network, with a total supply of 1 billion, launched on the Manta Pacific chain and derived from BSC.

Token Utility
  • Network Usage Fee: Covers transaction and contract fees, with allocations to ecosystem projects, the treasury, and collators.
  • Medium of Exchange: Serves as Manta Network’s currency for transfers, contract interactions, and purchasing credentials.
  • Governance: Provides voting rights for referenda, council elections, and network decisions.
  • Network Security: Incentivizes collators and allocates annual issuance to stakers for network security.
Allocation

Manta Network raised $60.4 million over five funding rounds with investors like Qiming Venture Partners, SevenX Ventures, and Binance Labs.

Manta Network Infrastructure

MantaPay

MantaPay is a decentralized mobile payment service enabling secure and quick transactions. It uses a BYOT (Bring Your Own Token) concept, allowing users to privatize and trade with various cryptocurrencies.

Subscan

Subscan is a high-precision Web3 explorer for browsing blockchain data from Substrate-based networks, including Manta Network.

SocialFi (AsMatch)

AsMatch is the first astrology-based Web3 socialfi matching app, combining AI-generated content, zero-knowledge proofs, and zkSBTs powered by Manta Network, with a match-to-earn model on the BNB Chain.

Team of Manta Network

Victor Ji

Victor Ji, a co-founder since October 2020, has a background as a YC China researcher and holds a master's degree in economics from Harvard. He is responsible for Manta Network’s product.

Shumo Chu

Shumo Chu is a co-founder and an assistant professor at the University of California, Santa Barbara. He also co-founded p0x labs, focusing on zk proofs across Web3.

Kenny Li

Kenny Li, the COO and co-founder, is a seasoned entrepreneur with experience in scaling startups and has been involved in multiple crypto projects since 2013.

Partners of Manta Network

Manta Network collaborates with several well-known blockchain industry partners, including Acala, Parallel, Polkadot, and Dora Factory.