In 2023, Manta Network experienced explosive growth, characterized by significant advancements, groundbreaking product launches, and a strong commitment to zero-knowledge (ZK) technology innovation. As the first ZK application platform that is equivalent to the Ethereum Virtual Machine, Manta Network has achieved an important milestone in the field of zero-knowledge applications. This ecosystem provides an unparalleled experience for developing and adopting advanced Web3 applications through the effective use of ZK cryptography. Today we’ll take a deep dive into the evolution of the Manta Network ecosystem and what the future holds for the network.
Manta Network has received more than $60 million in funding at a Series A valuation of $500 million, covering seed, seed, community and Series A funding stages. Well-known investors including Polychain Capital, DeFiance Capital and Qiming Venture Partners have provided financial support for its development. The strategic support from Binance Labs further highlights the network’s important position in the industry. Manta Network was founded in 2020 by Victor Ji and Kenny Li, who are part of p0x Labs as the founding team. Initially, the network received support from the Web3 Foundation, marking the beginning of its entrepreneurial journey.
Born out of a visionary initiative to transcend the limitations of current blockchain solutions, Manta Network introduces a multi-module ecosystem consisting of two blockchain networks. These networks provide advanced ZK tools that optimize the deployment process of ZK applications - Manta Pacific and Manta Atlantic.
network
Pacific Blanket
Manta Pacific is an EVM localized Layer 2 solution that introduces multi-functional ZK capabilities, enabling the exclusive creation of ZK applications through Solidity and Universal Circuits. OP Stack, which leverages Celestia for data availability and Solidity-based ZK application development, not only ensures efficient scalability but also significantly reduces transaction fees.
通过从以太坊转向 Celestia 的专业化数据可用性解决方案，Manta Pacific 显著降低了L2网络交易费用，使得燃气费用节省超过150万美元。即将到来的发展阶段旨在利用 Polygon CDK 建立一个完全模块化的 zkEVM rollup，进一步增强 Manta Pacific 的能力。利用 Polygon CDK 进行 zkEVM 的过渡计划定于2024年初实施。
Manta Atlantic
In contrast, Manta Atlantic is the fastest and most decentralized ZK Layer 1 public chain, aiming to achieve convenient modular on-chain compliant identity through zkSBTs. The chain will be officially launched in January 2024, mainly focusing on the ZK compliance credential layer, emphasizing practical applications and seamless interoperability. This unique approach gives projects the ability to achieve interoperable identities without directly involving cryptography.
Manta Atlantic 建立了一个专为 ZK 应用量身定制的可组合执行环境，并无缝整合了 Manta Network 的 ZK 工具基础设施。它构建在 Substrate 框架之上，作为 Polkadot 生态系统中的平行链运行，着重于可互操作身份验证和 ZK 应用的部署。
ZK tools
Universal Circuits
Manta Network’s Universal Circuits revolutionize ZK application development by solving inherent complexities. Traditionally, developers have faced a difficult learning curve, requiring deep dives into cryptography and manually creating complex ZK circuits using languages like Circom.
To overcome these obstacles, Universal Circuits provides a comprehensive, pre-built library of ZK circuits that can be easily integrated into applications, especially those developed with Solidity for Ethereum. This approach simplifies the development process and enables developers to easily integrate ZK functionality into applications without requiring in-depth cryptographic knowledge.
As ZK-as-a-service, Universal Circuits enables Solidity developers to interact with Manta Pacific's contracts via APIs, easily integrating ZK functionality into existing code bases without requiring drastic changes. Among Universal Circuits, some of the circuit designs that have attracted much attention include Semaphore-based circuits and ZK contracts such as zkShuffle developed by the Ethereum Foundation’s Privacy Extension and Exploration Labs (PSE Labs).
In addition, Manta Network’s upcoming initiatives include enhancing the functionality of Manta Atlantic, expanding the application scope of zkSBT and MantaPay to meet the needs of Rust developers, and launching the Manta Pacific testnet to attract a wider range of developers and applications to join. Aiming to expand the influence of the web and provide comprehensive solutions in the Web3 and Web2 fields.
zkSBTs 和 Manta NPO
zkSBTs, ZK-enabled SoulBound Tokens, are non-transferable NFTs anchored to individual user identities on the blockchain. By leveraging ZKP to improve user security, these tokens excel in on-chain gaming items, identity verification, and asset verification. Additionally, developers can easily integrate zkSBTs into ZK applications without requiring advanced cryptographic skills or expertise in ZKP.
Key features of zkSBTs:
On-chain data verification: zkSBT is a simplified on-chain data verification solution that is especially beneficial for mobile applications. Despite the existence of user-friendly wallets like Particle and Unipass, there are still challenges in verifying data such as KYC details, certificates, and assets on mobile platforms.
Decentralized Compliance: KYC is worth approximately $1.6 trillion in online platforms and is critical to distinguishing real users from bots. Tools like zkBAB and zkGalxe enable users to verify their legitimacy without revealing personal data or being associated with a wallet. Many applications leverage zkSBT for this verification purpose.
Credential verification for on-chain activity: Galxe and Cyberconnect handle a large amount of on-chain activity, but privacy issues have always been a challenge. zkSBT provides a solution to achieve private credential verification without frequent wallet connections, and supports multi-chain verification.
Game/Social Items: zkSBTs can be used as in-game items or assets on social platforms. Some well-known examples include Ultiverse and ReadON zkSBTs minted on the Manta chain, which are widely used in a variety of applications.
Asset verification: In asset verification applications, zkSBTs play a vital role. Tools such as POMP enable users to create zkSBT, providing a confidential on-chain statement that can be used to verify their asset holdings. This functionality is of great value in both traditional and decentralized finance contexts.
Manta NPO (NFT Private Placement) is a decentralized launch platform designed for minting and validating zkSBTs. Leveraging Manta Network's zkAddress tool and Universal Circuits, the NPO platform provides an intuitive, plug-and-play solution to easily deploy zkSBTs in ZK applications. Notably, as of this writing, the NPO launch platform has minted over 1.1 million zkSBTs.
ecosystem
Manta Network focuses on improving the cost-effectiveness and throughput of ZK applications and has quickly become the first choice among decentralized applications (dApps). Since its launch in September 2023, Manta Pacific's L2 network has successfully integrated more than 150 dApps, of which nearly 15 are native ZK applications.
Since its debut, Manta Pacific’s mainnet has processed over 10 million transactions. Although it has only recently entered the L2 space, the network has amassed an impressive total value locked (TVL) of over $1.5 billion, according to L2 Beat, making it a prominent presence among L2 networks. TVL’s significant growth is attributed to the successful launch of New Paradigm in December 2023, which attracted over 200,000 new users. Just two months after its launch, users have cross-linked more than $7.5 billion in assets to the L2 network.
Manta Pacific 也推出了 MantaFest 策略，这是一个为期5周的充满活力的推广活动，与其主网首次亮相同时启动。该倡议旨在通过向用户介绍跨链桥、DeFi、SocialFi 和 GameFi 等各种新集成dApps，激发网络活动。MantaFest 的参与者将有机会积累积分，在代币生成活动（TGE）期间兑换为 MANTA 奖励。此外，2023年10月，仅在 Manta Pacific 的主网α版发布一个月后，Manta Network 推出了 Uncharted Grants 计划，进一步推动生态系统的增长并促进创新。
The future of Manta Network
Following the launch of the Manta Pacific mainnet, the project has revealed a comprehensive four-phase roadmap designed to guide its development trajectory post-mainnet launch. The team plans to work together with the wider Manta Network ecosystem and community to achieve each key stage. Currently, Manta Pacific has successfully completed its second phase as an OP Stack rollup using Celestia for DA. The upcoming full transition to zkEVM validation using Polygon CDK is a key goal in 2024.
如果 Manta Network 成功地实施其路线图，它将成为进入 dApp 生态系统的开发者首选。Manta Network 持续的发展体现了其致力于优化产品、扩大影响力，并在维护用户隐私和数据安全的同时，搭建 Web2 和 Web3 领域之间的桥梁。
