Manta Network (MANTA)

Privacy and Security

Manta Network uses zero-knowledge proofs (ZKPs) to provide privacy for blockchain transactions. This means users can prove information is true without revealing the details, enabling private payments, identity verification, and confidential DeFi activities.

Scalability and Low Fees

Manta Network is built as a modular blockchain with two main parts: Manta Pacific (Layer 2 on Ethereum) and Manta Atlantic (Layer 1 on Polkadot). This design allows for fast transaction speeds and very low fees, making it easier and cheaper to use decentralized apps (dApps).

Decentralized Finance (DeFi) and Applications

It supports a wide range of applications including DeFi, gaming, social media, and enterprise solutions. Developers can build and deploy zero-knowledge (ZK) applications easily using Manta’s tools like Universal Circuits, which simplify adding privacy features to smart contracts.

Ecosystem and Community Incentives

The $MANTA token is used for paying transaction fees, staking to secure the network, governance voting, and rewarding users and developers who contribute to the ecosystem. The network also runs grant programs to encourage new use cases and innovations.

Specialized Products

Manta Network offers products like Mantaswap, a decentralized exchange with privacy features, and a launchpad for privacy-preserving NFTs and soulbound tokens (zkSBTs), which help with identity and data ownership in a private way.

Interoperability and Cross-Chain Support

Manta Network connects Ethereum and Polkadot ecosystems, allowing users to bridge assets and use applications across different blockchains with privacy and scalability benefits.

Advantages

• Manta Network offers strong privacy features using zero-knowledge (ZK) technology, allowing users to control their data and transact anonymously.
• It is built as a modular blockchain ecosystem with two chains: Manta Pacific (a Layer 2 on Ethereum) and Manta Atlantic (a fast Layer 1 on Polkadot), providing scalability and low fees.
• The network supports high throughput and low gas fees, making it developer-friendly and suitable for decentralized applications.
• Staking Manta Network tokens helps secure the network and rewards participants, with options for delegated staking that are user-friendly.
• Backed by experienced teams and major investors, it has strong industry support and ongoing development.
• Compatible with Parachain tokens and stablecoins, it offers total anonymity unlike some other decentralized exchanges.

Disadvantages

• The price of Manta Network tokens has experienced significant volatility and decline from its all-time high, reflecting market uncertainty.
• Manta Pacific relies on Ethereum’s consensus, so it does not support native staking directly.
• Modular blockchains like Manta Network can be complex to build on and navigate compared to traditional monolithic blockchains.
• The project is still in early stages, so some features and adoption are developing and may carry uncertainty.
• Past controversies, such as token sales by representatives, have caused price dips and market concerns.

This balance of strong privacy and scalability features with some complexity and market volatility defines Manta Network’s current position.

Founders

Manta Network was founded in 2020 by three co-founders: Victor Ji, Shumo Chu, and Kenny Li.

Backgrounds and Roles

• Victor Ji brings expertise in cryptography and blockchain research, playing a key role in the technical architecture.
• Shumo Chu contributes knowledge in distributed systems and product development.
• Kenny Li focuses on business development and community building, helping early growth.

Education and Experience

The founders have strong academic backgrounds from prestigious institutions like Harvard, MIT, and Algorand, with degrees in economics, business, and public administration.

Team and Funding

The founders initially held significant equity, supported by early investors such as Polychain Capital and Binance Labs, which helped fund the project’s development and growth.

Main Investors

Manta Network has raised $31.6 million from a total of 41 to 49 investors across multiple funding rounds. Key investors include Polychain Capital, Qiming Venture Partners, CoinFund, ParaFi Capital, Binance Labs, Alameda Research, Three Arrows Capital, Hypersphere Ventures, TRGC, DeFiance Capital, SevenX Ventures, Genesis Capital, International Blockchain Consulting, Lancer Capital, and Digital Currency Group.

Lead Investors in Recent Rounds

The most recent Series A funding round of $25 million was led by Polychain Capital and Qiming Venture Partners. Other participants in this round included Alliance, CoinFund, and SevenX Ventures.

Advisors and Strategic Backers

Advisors connected to Manta Network include co-founders and partners from Hypersphere Ventures, Polychain, Web3 Foundation, and Consensys, adding strategic value beyond capital.

Summary

Manta Network is supported by a diverse group of venture capital firms and crypto-focused investors, with Polychain Capital and Qiming Venture Partners being the most prominent backers in recent funding rounds.

Halal Status of Manta Network

Yes, Manta Network is considered halal. This is because it is a blockchain project focused on privacy and scalability using zero-knowledge cryptography, without involving prohibited activities like interest (riba) or gambling. The ecosystem supports decentralized applications and staking that align with ethical and compliant financial practices.