A Deep Dive into Manta Network's Tokenomics Model
TechFlow Selected TechFlow Selected
A Deep Dive into Manta Network's Tokenomics Model
Manta Network provides an unparalleled environment for dApps' scalability needs.
Navigating Web3 tides with focused insightsAuthored by: Manta Network
Manta Network is a modular ecosystem built for the next generation of dApps. It currently offers two networks:
-
Manta Pacific: A modular Layer 2 ecosystem built on Ethereum that provides a scalable and low-gas environment for next-generation dApps, enabling applications to go beyond the limitations of traditional EVM (Ethereum Virtual Machine) environments.
-
Manta Atlantic: The fastest ZK L1 chain on Polkadot, bringing programmable ZK (zero-knowledge)-powered on-chain identity DID and credentials to web3 through zkSBTs.
Manta Network provides an unparalleled environment for the scalability needs of dApps. The ecosystem adopts a modular approach to meet the evolving demands of the dApp market both today and in the future.
Currently, Manta Pacific leverages Celestia for modular DA (data availability), reducing gas fees and making it the most cost-effective Ethereum L2.
Since becoming the first Ethereum L2 integrated with Celestia, Manta Pacific has helped users save over $750,000 in gas fees. Today, we are excited to officially announce the tokenomics model for $MANTA, the native utility and governance token of the Manta Network ecosystem.
MANTA Overview
-
Initial total supply of 1 billion MANTA.
-
An annual inflation rate of 2% starting from initial token issuance.
-
Governance: MANTA token holders can vote on governance decisions for both Manta Pacific and Manta Atlantic networks.
-
Staking: Staking MANTA helps enhance the overall security of Manta Atlantic.
-
Collator Delegation: MANTA holders can choose to delegate their tokens to collators or run collators themselves by staking MANTA to protect the network.
-
Network Fees: Manta Atlantic uses MANTA to pay transaction fees.
-
Native Liquidity & Collateral: MANTA tokens can be used as native liquidity and collateral within the Manta ecosystem.
MANTA Use Cases in Manta Pacific
Manta Pacific aims to thrive through on-chain activity, creating value for token holders, contributors, builders, and users:
1/ Value Accrual for Token Holders:
-
Token holders benefit from sequencer revenue and gas fee savings from modular DA (data availability).
-
Sequencer revenue and DA gas fee savings are primarily used to fund on-chain activities and ZK applications, driving demand for block space.
2/ Builders and Contributors:
-
Builders and contributors directly benefit from funding of on-chain activities and the markets they enable.
-
A well-funded ecosystem attracts builders, creating a mutually beneficial relationship that fosters development of on-chain tools, market education, applications, and infrastructure.
-
Revenue is distributed to ecosystem projects and public goods funding, continuously incentivizing innovation, supporting early-stage projects, and promoting adoption of innovative technologies within the Manta ecosystem.
3/ Users and Community Members:
-
Ongoing ecosystem and community incentives, along with project incentives funded by MANTA, benefit users and community members.
-
Value comes from the advantages brought by on-chain activity and ZK applications.
4/ Revenue Generation:
-
Demand for MANTA block space generates revenue.
-
Initial funds from the sequencer belong to the Manta Foundation for redistribution.
-
Future funds may directly belong to the protocol through the sale of participation rights in Manta’s decentralized sequencing network.
MANTA Use Cases in Manta Atlantic
MANTA serves multiple functions within the Manta Atlantic ecosystem:
1/ Network Usage Fees:
-
Transactions and contract/pallet execution generate usage fees.
-
72% of network usage fees are allocated to ecosystem projects, enhancing incentives for building applications on Manta.
-
18% goes to the treasury to support network growth and future parachain auctions.
-
10% is allocated to the collators who produce blocks containing transactions.
2/ Medium of Exchange:
-
MANTA acts as the native currency of the Manta Network, facilitating peer-to-peer transfers and transactions with contracts/pallets.
-
MANTA can be used to purchase credentials such as zkSBTs and zkKYC within the network.
3/ Governance Rights:
-
MANTA serves as voting weight for on-chain governance decisions.
-
Used to propose referenda, elect council members, and shape the future of the Manta Network.
4/ Network Security:
-
Collators play a critical role in packaging transactions and supporting block liveness.
-
MANTA tokens incentivize collators, ensuring network robustness and decentralization.
-
The network allocates 2% of the total issuance annually to stakers to maintain network security.
MANTA Token Distribution
The total supply of MANTA is 1 billion, distributed across the categories outlined in the table below.
Cross-chain Interoperability of MANTA between Manta Pacific and Manta Atlantic
$MANTA has a total initial supply of 1 billion at launch. The Atlantic and Pacific networks collectively share the 1 billion token supply. As liquidity flows between the two networks, tokens will be locked and unlocked in Celer's cross-chain bridge liquidity pool (audits and open-source code available here). The total amount of unlocked tokens across both Manta Atlantic and Manta Pacific determines the current circulating supply.
$MANTA Tokens Released on Manta Atlantic
Tokens allocated to public sale investors, private investors, strategic investors, institutional investors, the foundation, team, and advisors will be distributed and unlocked on Manta Atlantic. Manta Pacific has a contract locking the token supply allocated to Atlantic. As Atlantic tokens unlock according to vesting schedules, the Pacific contract will release corresponding tokens into the Celer liquidity pool. This allows token holders to bridge between the two networks.
$MANTA Tokens Released on Manta Pacific
Tokens allocated to Airdrop 1 (Into the Blue), Airdrop 2 (New Paradigm), Binance Launchpool, and ecosystem/community will be distributed and unlocked on Manta Pacific.
Transparency Efforts
In the future, these metrics will be displayed via dashboards to promote transparency. Additionally, once contracts are deployed, they will be verified and published on-chain.
MANTA Token Release Schedule
The initial circulating supply of $MANTA at TGE (Token Generation Event) is 251 million. At the TGE stage, released $MANTA tokens will be allocated to Into the Blue, New Paradigm, public sale, advisors, and ecosystem/community.
Note: The total supply of MANTA at initial issuance is 1 billion. Additional tokens will be issued under the "Estimated Validator / Issuance Rewards" allocation.
Airdrop - 5.60%
Please read Manta Network’s Into the Blue Airdrop Program for details. The airdrop will be claimable from January 18, 2024 to June 18, 2024 at 11:59 PM UTC, lasting six months.
-
50 million MANTA tokens from the "Into the Blue" campaign will unlock at TGE.
-
6 million MANTA will unlock at TGE and be distributed to users who participated in the Binance parachain auction.
-
Unclaimed rewards after the claim period will be returned to the ecosystem fund and redistributed as decided by community governance.
New Paradigm (Airdrop 2) - 6.5%
To position Manta as a leading L2 solution, we launched the groundbreaking product, New Paradigm.
This innovative L2 product not only delivers real yield but also rewards users with a range of benefits.
6.5% of the total MANTA supply will be allocated to participants in New Paradigm.
Read more about New Paradigm Manta New Paradigm is Now Live!
-
Base Reward: 3% of total supply.
-
Special Reward: 2% of total supply.
-
Ecosystem Incentives: 1.5% of total supply.
Release Schedule:
-
50 million MANTA NFT rewards will be released at TGE.
-
15 million MANTA ecosystem incentives will be released 3 months after TGE.
-
Unclaimed rewards after the claim period will be returned to the ecosystem fund and redistributed as decided by community governance.
Binance Launchpool - 3.00%
Allocated to participants in the MANTA token Binance Launchpool.
Release Schedule:
-
100% released at TGE.
Public Sale - 8.00%
8% of the total MANTA supply will be allocated to participants in the Squad Game MANTA token public sale.
Release Schedule:
-
40 million MANTA released at TGE; the remainder released monthly (at the end of each month) over 6 months.
Private Round - 12.94%
12.94% of the total MANTA supply will be allocated to private investors.
Release Schedule:
-
12-month cliff, followed by linear release over 36 months.
Strategic Investors - 6.17%
6.17% of the total MANTA supply will be allocated to strategic investors.
Release Schedule:
-
12-month cliff, followed by linear release over 36 months.
Institutional Investors - 5.00%
6% of the total MANTA supply will be reserved for institutional investors.
Release Schedule:
-
12-month cliff, followed by linear release over 36 months.
Ecosystem / Community - 21.19%
MANTA tokens will be allocated via on-chain governance to contributors, builders, and ecosystem partners through grants and incentives. Detailed information about the on-chain governance structure and workflow will be announced separately. The initial release from this portion will support liquidity provision, ecosystem projects, and partners. Follow Manta Network’s Twitter for updates.
Release Schedule:
-
50 million MANTA released at TGE; the remainder linearly released over 48 months. Tokens will be distributed via governance.
Foundation Treasury - 13.50%
The Manta Foundation Treasury has been established to guide the Manta ecosystem and uphold its values. More details about the Manta Foundation and governance will be released soon.
Release Schedule:
-
Linear release over 72 months.
Team - 10.00%
Allocated to current and future core team members who contribute to the growth and success of Manta Network.
Release Schedule:
-
18-month cliff, followed by linear release over 48 months.
Advisors - 8.10%
Allocated to advisors who have helped Manta Network achieve its success so far and will continue to do so in the future.
Release Schedule:
-
25 million MANTA released at TGE; the remainder released monthly (at the end of each month) over 30 months.
Estimated Validator / Issuance Rewards - 2% Annually
Starting from TGE, the network will allocate 2% of the total issuance annually to stakers to maintain network security. Additional tokens will be issued as part of the Estimated Validator / Issuance Rewards allocation.
Release Schedule:
-
The total supply of MANTA at initial issuance is 1 billion. Starting from TGE, the network will allocate 2% of the total issuance annually to stakers to maintain network security. Additional tokens will be issued as part of the Estimated Validator / Issuance Rewards allocation.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
@MantaNetwork
