With the help of modularization, $MANTA bull market market value aims at 5 billion US dollars?
Celestia (TIA) was launched on BINANCE and soared 10 times, which completely brought the concept of modular blockchain into the public eye. A large number of modular projects have appeared frequently in the eyes of investors again, such as Fuel, Eclipse, Caldera, dYmension, Omni Network, etc. Later, several CEXs including BINANCE also took advantage of the opportunity to launch the same track projects Manta Network and AltLayer.
Among them, Manta Network is quite eye-catching. Not only did Pacific TVL rise to more than 1.6 billion US dollars, but its project token MANTA also rose to more than 4 US dollars despite the market crash. In addition, in January this year alone, Manta Network received investment from two investment institutions, Newman Capital and ArkStream Capital. Today, let us walk into Manta's modular public chain.
1. What is a modular public chain?
The so-called modularization is to divide the consensus layer, data availability layer (DA), settlement layer, transaction execution layer, etc. of the blockchain to different chains instead of one chain processing all modules. The execution layer can exist as its own blockchain, or it can use the underlying blockchain to ensure validity and data availability.
Modular blockchain architecture can decompose the functions of the blockchain into different layers, such as the execution layer, security layer, and data availability layer, which can improve the efficiency, flexibility, and interoperability of the blockchain. Parallel trading products can use parallel processing to execute transactions and use different verification mechanisms to ensure the validity of margin transactions, which can improve the processing power, throughput, and confirmation speed of the blockchain. They can support more tokens and smart contracts and allow users to transfer assets between different blockchains, which can expand the application scenarios of blockchains, such as DeFi, NFT, and Web3.
2. What is Manta Network?
Founded in 2020, Manta Network is a pioneering modular blockchain with a two-layer structure developed specifically for zero-knowledge (ZK) application development. That is, MantaPacific and Manta Atlantic.
Manta Pacific is located on Ethereum for second-layer solutions, while Manta Atlantic is located on Polkadot for first-layer solutions. It excels in zero-knowledge application development, using technologies such as Celestia to improve data availability and zkEVM to improve scalability.
Manta Pacific is an L2 ecosystem on Ethereum optimized for EVM native ZK applications. It provides a scalable and cost-effective environment for deploying ZK applications (mainly using Solidity).
Overall, users can build and deploy any decentralized application based on Solidity on Manta, and use its technology stack to provide faster transaction speeds than L1 and lower Gas costs than L2.
3. Team background and financing
Manta Network was founded in 2020 by Victor Ji, Shumo Chu and Kenny Li. In addition, its team of experts comes from famous universities such as Harvard University, MIT and Algorand, and has received a lot of investment from leading entities in the Web3 field such as Binance Labs and Polychain Capital, DCG and (the late) Alameda.
In March 2023, Manta Network was launched on the main line;
In October 2021, it completed a financing of US$5.5 million
In February 2022, it completed strategic financing, the amount of which was not disclosed;
In July 2023, p0x labs, the development team behind Manta Network, successfully raised US$25 million, led by Polychain Capital, with a valuation of US$500 million
In January 2024, Manta Network received investment from two investment institutions, Newman Capital and ArkStream Capital, the specific amount of which was not disclosed.
Currently, the total financing amount of Manta Network exceeds US$31.6 million. ,
4. Ecological Outlook
At its peak, Manta Pacific TVL was US$1.63 billion, accounting for 7.96% of the Ethereum Layer 2 market, ranking third, second only to Arbitrum and OP Mainnet,
The total transaction volume of the network was 13.71 million, and the project ecosystem was 196. Although it has declined at present, it still ranks among the top ten.
Many excellent ecological projects have emerged on Manta Network, covering infrastructure, DEFI, ScoialFi, DID, GameFi, etc.
5. Token Economic Model
MANTA is the core token of Manta Network, with an initial total supply of 1 billion MANTA. From the initial issuance of the token, it will increase by 2% each year. The circulating supply after listing is about 251,000,000 (about 25.1% of the total token supply)
6. Summary
In addition to the optimistic track itself, the ecological development of Manta is eye-catching. From December last year to TVL of only 16 million US dollars, it exceeded 400 million US dollars in January, with a monthly growth of more than 1700%.MANTA's current market value is only 450 million US dollars, which is far behind the L2 big brothers such as OP and ARB, which have a base of tens of billions. However, with the development of the ecosystem and the increasing maturity of modularization, manta does not seem to be out of reach, right?
