$MANTA Token Airdrop All Set for 18th January – Here’s All You Need to Know
Manta Network, a platform dedicated to building scalable decentralized applications, is gearing up to reward its community with a MANTA token airdrop.
The event, scheduled on January 18, 2024, serves as a gesture of gratitude to the long-term supporters of Manta’s two networks, including Manta Pacific, the native layer 2 modular blockchain, and Manta Atlantic, the fastest zero-knowledge (ZK) Layer 1 chain on Polkadot (DOT), according to a release shared with Cryptonews.
Manta Pacific has experienced a remarkable 70x increase in Total Value Locked (TVL) over the past quarter.
Currently listed in the fourth position, it stands out as the fastest-growing L2 network, with a TVL of $858 million, as per L2Beat data.
On Manta Pacific, MANTA token holders will enjoy benefits such as gas fee savings and sequencer revenue.
The token’s purpose is to enhance the user experience of on-chain activities and interactions with zkApps in the ecosystem.
Builders and contributors will directly benefit from MANTA, fostering growth and sustainability within the ecosystem.
The token can also be used to fund other projects in the ecosystem and generate revenue.
On Manta Atlantic, MANTA serves as a network usage fee, medium of exchange, governance rights, network security, and allocation for ecosystem projects, treasury, collators, and staking rewards.
The total supply of MANTA at Genesis is set at 1,000,000,000 tokens, with a yearly minting rate of 2% starting from Token Genesis.
The airdrop will be divided into two categories, which includes Airdrop Rewards and Airdrop Bonus Rewards.
Airdrop Rewards account for 3% of the total token supply and will allocate 30,000,000 $MANTA to Manta Atlantic and Manta Pacific users and supporters.
Airdrop Bonus Rewards, comprising 2% of the total supply, will distribute an additional 20,000,000 $MANTA to supporters and users within the Manta ecosystem.
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