As @MantaNetwork is launching its new #CeDeFi product, let's dive into this innovative project that aims to bring traditional financial strategies and the blockchain ecosystem together:
1. What is Manta Network? 🌐
Manta Network is a privacy-centric decentralized finance (DeFi) platform providing a robust infrastructure for zero-knowledge (ZK) applications.
Manta Network combines the speed and decentralization of Layer 1 solutions with the scalability and EVM compatibility of Layer 2 solutions.
Manta offers two networks:
Manta Atlantic: a ZK L1 chain built on Polkadot
Manta Pacific: a L2 ecosystem built on Ethereum
2. ZK technology 🤖
As its primary privacy-preserving technology, Manta Network leverages Zero-Knowledge Proofs (ZKPs), specifically Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge (ZK-SNARKs).
Manta Network's ZK Technology enhances:
Privacy: ZK-SNARKs ensure that transaction details remain confidential, protecting user privacy on the blockchain.
Efficiency: The succinct nature of ZK-SNARKs enables efficient processing and verification of private transactions, ensuring high performance and scalability.
Compliance: Manta Network's selective disclosure features enable compliance with regulatory requirements while maintaining user privacy.
Interoperability: By integrating with Polkadot, Manta Network can offer its privacy-preserving services to a wider range of blockchain applications and users.
✔️Manta Network's ZK technology enables the blockchain to provide privacy-preserving transactions and services while maintaining efficiency, scalability, and interoperability with other blockchain networks.
3. Manta Atlantic 🕸
Manta Atlantic is a fast and decentralized ZK Layer1 supporting modular on-chain compliance identities. It is engineered to function as the backbone for secure and decentralized applications.
Manta Atlantic includes a suite of core products and technologies:
zkNFTs: Unlike traditional NFTs, zkNFTs provide anonymity and secure ownership to ensure user privacy while maintaining the NFT’s integrity.
Staking: As part of its consensus mechanism, staking enables network participants to contribute to and benefit from the network’s security and governance.
Ecosystem Projects: Various ecosystem projects focusing on DeFi, gaming, and social applications leverage the network’s privacy features to offer new user experiences.
✔️Manta Atlantic simplifies the integration of privacy-preserving features without the need for in-depth cryptographic knowledge.
4.Manta Pacific ❄️
Manta Pacific is an innovative modular Layer 2 solution designed for EVM-native ZK applications. It offers a scalable, cost-effective, and developer-friendly platform, tailored for deploying ZK applications on the Ethereum blockchain.
Notable features of Manta Pacific include:
Modularity: Programmable ZK as an EVM-native L2.
Manta’s Universal Circuits: Simplifies the development of ZK applications using only Solidity.
Integration with Celestia DA and zkEVM: Provide high scalability and low transaction fees for ZK applications.
✔️Manta Pacific provides a modular, scalable architecture with significantly lower transaction costs, tailored to the needs of privacy-centric applications.
5. MANTA Token 💎
$MANTA is the main currency on the Manta Network with varying functions across its two layers.
On Manta Pacific:
Settle on-chain activities and applications.
Fund incentives that benefit the community.
Create income for builders and contributors to Manta’s ecosystem.
On Manta Atlantic:
Pay financial transactions fees and interactions with smart contracts, divided as follow:
-72% of these fees support projects in the ecosystem.
-18% goes to the treasury for network development.
-10% is given to collators, who help create blocks containing transactions
Buy credentials like zkSBTs and zkKYCs.
Vote for making decisions and selecting council members.
Reward stakers with 2% of the total tokens issued annually.
Tokenomics 🔒
The $MANTA token has a total supply of 1 billion, with a 2% yearly minting rate starting from launch.
The tokens are allocated as follow:
6. Manta CeDeFi 🐠
Manta CeDeFi combines CeFi and DeFi to bring users with both institutional-grade compliance and extensive financial agility.
Mantra CeDeFi platform offers native Real-World Asset (RWA) yields, providing users with real returns. In the future, Manta plans to make CeDeFi an issuance platform and interface for more #RWA assets.
What sets Manta CeDeFi apart is its unique feature: CeFi and DeFi yields are generated in parallel, effectively empowering asset holders with two permanent types of earnings, CeFi opportunities and on-chain activities, and a one limited-time opportunity for early adopters to earn $MANTA tokens through a 2-month points program.
CeFi Regulatory Custody💰
Manta Network maps assets to exchanges through the custodian service provider Ceffu (ex Binance Custody) to ensure the safety of crypto assets within the CeDeFi ecosystem.
Upon depositing USDT, USDC, wUSDM, WBTC, BTCB, ETH, or STONE, users automatically receive Liquid Custody Tokens (LCTs) on Manta Pacific representing their deposit, which can be redeemed for mTokens (mBTC, mETH, mUSD) shares.
Asset management institutions then execute rate arbitrage and other strategies to generate token-denominated returns. Through the CeDeFi ecosystem, users can increase their token holdings and enjoy multiplied USD-denominated returns as token prices rise in a bull market.
With Manta CeDeFi, investment strategies previously exclusive to VIP clients of exchanges are now available on-chain for everyone.
7. Manta's prospects 🧾
Manta Network was created in 2020 by P0xeidon Labs, a decentralized laboratory building zero-knowledge proofs founded by experienced founders from prestigious institutions, including Harvard, MIT, and Algorand. As of 2023, P0xeidon Labs was valued at $500M, after raising $25M, in a Series A funding round led by Polychain Capital and Qiming Ventures. Manta Network has also received investments from many other top web3 investment funds, including Binance Labs.
Since then, Manta has steadily grown to become one of the major players and most promising projects in the Web3 ecosystem.
Today, Manta Network's business development and research capabilities focus on expanding its technological and market reach, especially in key Asian markets like Korea and Hong-Kong, forming strategic partnerships with other blockchain projects to enhance interoperability and adoption, advancing zero-knowledge proofs (ZKPs), and researching Layer 2 solutions and other scalability technologies to support high transaction throughput with low costs.
Final Thoughts 🎯
With this new product, Manta Network proves once again to be at the edge of innovation, offering a groundbreaking approach to token-denominated returns.
Being one of the few products on the market with this feat, Manta CeDeFi is a unique opportunity for investors to generate returns on Real-World Asset (RWA).