Manta Network Surges in Total Value Locked, Becoming Ninth-Largest Blockchain
Manta Network, an AI and ZK-powered modular blockchain, has achieved a new milestone as its total value locked (TVL) surged 68% month-to-date to around $464 million. With this surge, Manta outpaced Coinbase’s Base and Sui to become the ninth-largest blockchain in TVL.
Manta Pacific Becomes Third Largest Layer 2 Blockchain
Manta Pacific, a layer 2 scaling solution of Manta Network, also sees its TVL rally to $1.7 billion. It is now the third largest layer 2 blockchain, just behind Arbitrum One and Optimism.
Flying Under The Radar
Originally known as a layer 1 project on the Polkadot infrastructure, Manta later shifted toward developing a layer 2 chain named Manta Pacific. The growth started when Manta Network announced an airdrop of MANTA tokens for people joining the New Paradigm campaign.
More Coming From Manta
Participants stand to benefit further by collecting all six distinct NFT types, as this achievement unlocks the opportunity to exchange them for a more exclusive NFT known as ‘The First Modular L2.’ Manta also secured its position as the 44th Binance Launchpool project.
Kenny Li, co-founder of Manta Network, explained: “Overall, I think that drove a massive amount of interest in a short amount of time. And that grew us to the top four.”
Manta has partnered with Celestia to implement a Data Availability (DA) solution to optimize user transaction costs. Notably, LayerZero’s support further bolsters Manta’s developmental endeavors. The TGE event recently encountered a Distributed Denial of Service (DDoS) Attack, but the Manta Pacific network swiftly returned to normalcy.
Hot Take: MANTA Token Value Soars
MANTA token value has continuously set a new record high since its listing on exchanges. At the time of writing, it is trading at around $3.5, an increase of about 47% in the last month.
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