Manta Network’s Native Crypto MANTA to Launch on Major Exchanges
Manta network’s native cryptocurrency, MANTA, is set to launch on major exchanges such as Binance, Bybit, and Kucoin starting from January 18. This announcement comes after Binance declared MANTA as its 44th token on the launchpad. Users will have the opportunity to farm the token by staking BNB and stablecoin FDUSD.
Pool Open for Farming
According to a blog post on January 15, the pool for farming MANTA tokens will be open for two days beginning on January 16. Participants will be able to obtain a stash of 30 million MANTA tokens, which represents around 3% of the maximum supply and approximately 25% of its initial circulating supply. This offering may attract interest from crypto traders similar to Xai (XAI), a layer-3 gaming project that also debuted on Binance’s launchpad.
About Manta Network
Manta network is a unique multi-modular blockchain that supports zero-knowledge applications and is compatible with the Ethereum Virtual machine. Users of Web3 protocols will have access to two network types: Manta Pacific, a layer-2 chain built on Polygon’s development kit, and Celestia’s modular data availability standard.
P0x Labs and Funding
P0x Labs developed the Manta network and raised $25 million in a funding round led by Polychain Capital in July 2023. Additionally, Manta currently holds over $400 million in total value locked according to DefiLlama. The mainnet of the network was launched in September of last year.
Hot Take: Potential Impact on Crypto Market
Manta’s upcoming launch on major exchanges, including Binance, Bybit, and Kucoin, has the potential to attract significant attention from crypto traders. Similar projects that have debuted on Binance’s launchpad, such as Xai, experienced an increase in value followed by a subsequent decline. As MANTA becomes available for trading, it will be interesting to observe its impact on the crypto market and how traders respond to this new opportunity.
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