TechFlow Insights
Manta Network is the gateway for modular ZK applications, leveraging modular blockchains and zkEVM to establish a new paradigm for L2 smart contract platforms.
Manta Pacific addresses usability issues through its modular infrastructure design, enabling seamless integration of modular DA and zkEVM, thereby continuously enhancing user experience over time.
MANTA is the native utility token of Manta Network, used for:
Governance: MANTA token holders can vote on network governance decisions for Manta Pacific and Manta Atlantic.
Scaling: MANTA positioning helps ensure the overall security of the Manta Atlantic network.
Validation delegation: MANTA holders can choose to delegate their stake to validators or run their own validator node by staking MANTA to secure the network.
Network usage fees: Manta Atlantic uses MANTA to pay transaction fees.
Native liquidity and collateral: MANTA tokens can be used as native liquidity and collateral within Manta ecosystem services.
The protocol consists of several key components that work together:
Modular data availability: Call data for each transaction is handled by Celestia, significantly reducing the cost of processing transactions on Manta Pacific.
Permissionless smart contracts: Projects on Manta Pacific can deploy Solidity-based smart contracts compatible with the EVM environment.
General-purpose circuits: Developers can leverage Manta Pacific's general-purpose circuits to build ZK-powered applications, which provide a universal pre-compiled ZK circuit library suitable for various use cases including DeFi, GameFi, identity, and more.
zkEVM proofs: Transactions are batch-verified using ZK proofs to ensure cryptographic-level security.
On July 19, 2023, Manta Network completed a $25 million Series A funding round at a $500 million valuation.
