Multi-modular ecosystem for zero-knowledge (ZK) applications, Manta Network (MANTA) announced that it now supports MANTA token native staking on Manta Pacific through the full-chain liquid staking derivatives (LSD) protocol Bifrost.
Manta Pacific is an EVM-compatible network designed to facilitate support for decentralized applications. It utilizes Celestia for data availability and employs a modified OP Stack to establish a technical infrastructure characterized by scalability and low gas fees. As per L2 Beat, the network currently holds $744 million in value across its smart contracts.
Now, users of EVM-based platforms have the ability to Liquid Stake MANTA tokens on Manta Pacific using the Omni Liquid Staking decentralized application (dApp). This offers them the opportunity to secure the network while unlocking liquidity.
Bifrost‘s Manta Network liquid staking token (LST), vMANTA, will enable access to additional decentralized finance (DeFi) activities within the Manta Pacific ecosystem.
As per an official announcement by Bifrost on the social media platform X, additional DeFi scenarios and use cases will be unveiled in the upcoming weeks. This will further enhance the interoperability of vMANTA.
To participate in staking, users are advised to utilize the Omni Liquid Staking platform. They should connect their wallet, choose the Manta Pacific network from the top left corner of the interface, and select vMANTA to enter the MANTA liquid staking webpage. After entering the desired amount of MANTA tokens for staking, they should click the “approve” button, followed by “stake now,” and then complete the on-chain signature and verification process.
Stake $MANTA natively on #MantaPacific, available now through @BifrostStaking unlocks $vMANTA, Bifrost's Manta LST, powered by @LayerZero_Labs.$vMANTA is used in the Manta Pacific ecosystem to unlock more DeFi activities. Learn how to natively stake $MANTA on Manta Pacific: https://t.co/atxcSmy3D6 pic.twitter.com/x5MVpnANIP
— Manta Network ( , ) #MantaRenewParadigm (@MantaNetwork) May 15, 2024
What Is Manta Network?
Manta Network functions as a multi-modular ecosystem serving ZK applications. Manta Pacific represents one of two networks offered by Manta Network. The other is Manta Atlantic–a ZK Layer 1 blockchain on Polkadot that provides programmable identities and credentials for Web3 with zkSBTs. The combination of these two solutions provides a distinctive environment for the advancement and adoption of Web3 applications.
The project is supported by several prominent venture capital firms, encompassing Binance Labs and Polychain Capital. Recently, Manta Network unlocked 21.67 million MANTA tokens, valued at approximately $40.52 million, representing 8.67% of the circulating supply.
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