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Manta was first launched on Binance and attracted much attention. It went straight to 3u after it was launched. Congratulations to the partners who participated in the first-level Manta community. They recognized 0.15 and won 30 times again. This rising star did not disappoint everyone. Time has given the answer. Look for the Wall Street Crypto Research Institute!

Most of the attention has been focused on Binance recently. The new CEO of Binance has frequently launched new projects since taking office. It seems that he wants to get the fine money back!

First of all, the most eye-catching focus this week is Manta. This highly anticipated Layer 2 project was launched on major mainstream platforms at 6 o'clock last night, which is full of expectations and shows its strong strength!

For this token, we may be curious about how high its price will rise and when it would be appropriate to enter or exit the market.

It is worth noting that one of the most concerning indicators of major Layer 2 projects is the total value of funds on their chains, TVL.

Especially in the Layer 2 field, institutional investors often use the total value of on-chain funds (TVL) as a key indicator for valuation and financing. Therefore, the level of this indicator directly affects the price performance of the project.

What are the TVLs of the current mainstream expansion chains? Let’s take a look at the relevant data.

Currently, the second-layer network with the highest on-chain funds is ARB, with a TVL of $3.7 billion and a total token market value of $21 billion. Compared with its market value, ARB's TVL to market value ratio is 0.176.

What is Manta?

Manta Network is a modular blockchain for zero-knowledge (ZK) applications with fast Prover efficiency and decentralized trusted setup, bringing programmable privacy to Web3.

Its core products and technical components, including zkNFTs and MantaPay, as well as the privacy-enabled zkSBT and privacy wallet Manta Wallet, provide users with friendly, accessible and powerful ZK applications.

Manta Pacific is a modular L2 ecosystem that provides users with EVM-native ZK applications and dapps with low cost and high-quality experience.

Leveraging Manta’s universal circuits for ZK-as-a-service and Celestia’s modular data availability for low gas fees, Manta Pacific provides an excellent environment for ZK-enabled applications.

MANTA Token Overview

The initial total supply is 1 billion MANTA.

Starting from the initial issuance of tokens, an additional 2% will be issued each year.

Governance: MANTA token holders can vote on Manta Pacific and Manta Atlantic network governance decisions.

Staking: Staking MANTA helps strengthen the overall security of Manta Atlantic.

Collator Delegation: MANTA holders can choose to delegate their tokens to Collator, or stake MANTA themselves to run Collator to protect the network.

Network Fees: Manta Atlantic uses MANTA to pay transaction fees.

Native Liquidity & Collateral: MANTA tokens can be used as native liquidity tokens and collateral in the Manta ecosystem.

MANTA Token Economics

Manta Network announced the token economic model of MANTA coin on January 15.

The total supply of MANTA coins is 1 billion, with an annual increase of 2%. The initial circulation is 251 million MANTA (25.1% of the maximum supply of tokens).

The token distribution is as follows:

As you can see, MANTA airdrops were conducted in two rounds, accounting for 12.10% of the total supply. There is no detailed claim information yet, and users should be careful of fake phishing links and not fall into fake token scams.

Summarize

This bull market will be a bull market for L2. From the TVL of major L2 chains, we can see that it is the fastest growing and has the largest amount. The reason is simple: where the money is (where the investment institutions put their money), there will be an explosion (more opportunities). In the OP series of L2, OP and ARB have already occupied it. The subsequent struggle will focus on the ZK series of L2.

The primary market is currently experiencing unprecedented heat. Ethereum is rising, and Starknet, as the leading center of L2, is naturally attracting much attention. The zk (zero-knowledge proof) series, zks, linea, and stark all belong to this series. The current valuation of starknet has reached tens of billions, and it will definitely be a dazzling star when it goes online!
V God Ethereum Foundation has strongly supported it and is currently actively participating. What kind of surprises will Binance OKX bring in March? Please see below!

@Starknet from the ZK-Rollup camp is about to launch the $STRK token. The launch time is expected to be March 2024, when the STRK token will be used as TX fee in the mainnet operation process. Look forward to it.

01

Project Introduction and Vision

StarkWare is a solution developed based on STARK's zero-knowledge proof technology and focused on the blockchain industry. It is committed to promoting the development of secure, trustless and scalable blockchain applications to ensure a safe, fast and seamless user experience on Ethereum.

StarkWare has developed two products, StarkEx and StarkNet. StarkEx is an independent licensed Validity-Rollup (also known as "ZK-Rollup"); StarkNet is a permissionless decentralized ZK-Rollup.

Starknet runs as an L2 network on Ethereum, enabling any dApp to achieve unlimited computational scale - without compromising Ethereum's composability and security, first of all due to Starknet's reliance on STARK, the most secure and scalable cryptographic proof system;

Secondly, Starknet contracts and Starknet operating system are written in Cairo language, which can support deployment and expansion of any use case.

02

Features and advantages

When asked about the features and advantages of the project in a media interview, Eli Ben-Sasson, co-founder of StarkWare, replied: StarkWare has a first-mover advantage in terms of the huge transaction volume and carrying capacity among all L2 solutions. In addition, the ZK-STARK system and the Turing-complete Cairo programming language are regarded by the team as the advantages of the StarkWare project that distinguish it from other Layer2 public chain projects.

Huge transaction volume and carrying capacity
According to StarkWare’s official website, as of May 4, 2023, the StarkWare project’s current cumulative transaction volume is US$947 billion, and the total locked value (TVL) is 552 million.

Compared with the Polygon project, which is known for its rich ecological scale, according to its official website, Polygon's current cumulative transaction volume is US$2.44 billion.

In January 2018, StarkWare raised $6 million in seed round financing, with investors including Ethereum founder Vitalik Buterin (V God), Paradigm, Pantera Capital PolyChain;

In July 2018, the Ethereum Foundation invested $12 million in StarkWare;

In October 2018, the company raised USD 30 million in Series A financing, with Sequoia, Paradigm, Scalar Capital, Multichain Capital, Intel Capital, Semantic Ventures, Pantera and others participating in the investment;

On March 24, 2021, the B round of financing was US$75 million, with Sequoia, Wing Venture Capital, Paradigm, and Pantera Capital continuing to participate in the investment, including Three Arrows Capital, DCVC, etc.;

In November 2021, it raised US$50 million in Series C funding with a valuation of US$2 billion, led by Sequoia Capital, with participation from well-known crypto venture capital firms such as Paradigm, Three Arrows Capital, and Alameda Research.

On May 25, 2022, StarkWare completed a $100 million Series D financing round with a valuation of $8 billion. This round of financing was led by Greenoaks Capital, Tiger Global and other institutions, and the funds raised will be used for product and business development and ecosystem development.

03

Foundation and Tokens

StarkWare believes that although StarkNet is mature and secure in terms of technology, it still needs to be more decentralized so that it can achieve the status of a public good like Ethereum. The StarkNet Foundation will grant StarkNet a one-time token grant to maintain public goods as a non-profit organization.

The StarkNet token is used to operate, maintain and protect this ecosystem. It will be used in governance, transaction payments and participation in consensus mechanisms.

StarkNet Token Distribution

04

Starknet Funding

Currently, Starknet's company Starkware has disclosed a total of 7 rounds of financing, with a total financing amount of US$273 million, and a valuation of US$7.9 billion in the D round of financing.

Among them are many venture capital funds that we are familiar with, such as Sequoia Capital, Tiger, Paradigm, Coinbase, etc. In the seed round, Vitalik Buterin and the Ethereum Foundation also participated in the financing. The financing lineup is very luxurious.

05

Team Information

The official website currently has 78 employees, 7 technical consultants, and 5 traditional consultants. The two founders, Ben, have in-depth research in cryptography and zero-knowledge proof. He is also the co-inventor of Stark and Zerocash protocols and the founding scientist of Zcash. The other founder is a serial entrepreneur who has founded many technology companies and has rich entrepreneurial and corporate management experience. The team has comprehensive capabilities.

06

Summarize

StarkNet Advantages

Unlike other ZK rollups like zkSync, StarkNet is not a “zkEVM” — meaning smart contracts (which power your favorite Dapps on Ethereum like Uniswap and OpenSea) must be written in StarkNet’s own programming language, Cairo.

Cairo is a very powerful language that is optimized for ZK rollups. It allows you to do everything you can do on the EVM, and more, because the computational cost is much lower.

This creates entirely new possibilities that were not possible on the blockchain before, such as true blockchain gaming!

StarkNet quota is extremely scarce. There are only two factions on Ethereum Layer 2, one is the OP series: OP and ARB belong to the OP series! The other faction is the ZK (zero-knowledge proof) series, ZKS, Linea, Stark all belong to this series. At present, the valuation of StarkNet has reached 10 billion, and it will definitely be a dazzling star when it goes online!

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Look at simplicity