Manta Network Ecosystem Hits New Heights After Token Launch

What is Manta Network?

Manta Network is the multi-modular ecosystem for zero-knowledge (ZK) applications. It received investments from many top web3 investment funds, including Binance Labs and Polychain Capital.

Manta offers two networks:

• Manta Pacific, the unique L2 ecosystem on Ethereum for EVM-native ZK applications, provides a scalable and inexpensive gas-fee environment for ZK applications to deploy simply using Solidity.
• Manta Atlantic, the fastest ZK L1 chain on Polkadot, brings programmable identities and credentials to web3 through zkSBTs.
  

Recently, Manta Network was listed on multiple exchanges and quickly gained a $553 million Total Value Locked (TVL). Due to its extended anticipation, well-known backers, and a solid team, Manta Network is regarded as one of the most highly anticipated projects in 2024.

LayerBank dominates the Manta Network ecosystem with a TVL size accounting for 68.2% of Manta’s TVL. The top 3 leading protocols on Manta Network are lending protocols, which together constitute 90.8% of Manta’s TVL. To foster a more balanced ecosystem, Manta should increase the TVL share of other protocols.

Manta Network Ecosystem Overview

Manta Network is growing rapidly; its ecosystem has already attracted projects from various sectors, including Social, Infrastructure, Gaming, and DeFi. Further ecosystem development depends on internal factors such as teamwork and external factors like market and fundraising conditions. Manta Network aims to expand its ecosystem through an accelerator and grant program.

The Bottom Line

In the wake of its successful token launch and rapid ecosystem expansion, Manta Network has the potential to become one of the leading blockchains. This also presents an opportunity for builders to expand their products onto the new chain. Further growth depends on both the efforts of the Manta Network team and favorable market conditions.