Manta Network Secures $25 Million in Funding Round Led by Polychain Capital
Manta Network, a project developed by Caldera, has raised $25 million in a Series A funding round with Polychain Capital as the lead investor. The network is built on a modified version of Optimism’s OP Stack and utilizes Celestia’s data availability solution to reduce data fees. This combination enables Manta to deliver on-chain interactions at a fraction of the cost compared to other monolithic L1s and L2s.
Manta Pacific Enters Next Phase After Successful Testnet Period
Following a successful testnet phase, Manta Pacific will leverage Celestia’s data availability layer to enhance its capabilities. Kenny Li, a core contributor to Manta Network, stated that the network aims to provide on-chain interactions with significantly lower costs compared to other solutions. The Pacific network already hosts applications that utilize zero knowledge-circuits, including an on-chain game called zkHoldEm, a verified credential protocol named zkMe, and a data verification protocol known as zkPass.
Hot Take: Manta Network Revolutionizes On-Chain Interactions
Manta Network’s successful funding round and utilization of cutting-edge technologies demonstrate its commitment to revolutionizing on-chain interactions. By leveraging Celestia’s data availability solution and Optimism’s OP Stack, Manta offers a more cost-effective alternative to traditional L1 and L2 solutions. With applications already utilizing zero knowledge-circuits, Manta Network is poised to make a significant impact in the crypto space by delivering efficient and secure on-chain interactions.
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