Manta Network
About Manta Network
The price of Manta Network (MANTA) is $0.64365541 today, as of Sep 16 08:13 p.m., with a 24-hour trading volume of $24.26M. Over the last 24 hours, the price has decreased by -6.32%. Manta Network currently has a circulating supply of 379.04M and a market cap of $243.97M.
Manta was founded by P0x Labs, a developer team made up of Victor Ji, Shumo Chu and Kenny Li in 2020. The mission was to create a privacy-focused protocol on the Polkadot blockchain. It eventually spun off to create its own modular blockchain in September, 2023 leveraging data availability services from Celestia and Polygon Labs. In contrast to monolithic blockchains like Ethereum, modular blockchains work by creating specific channels for speed and execution.
Whilst originally built using the OP Stack, Manta developers outlined plans to transition to a zero-knowledge (ZK) rollup using Polygon’s Chain Development Kit (CDK).
After transitioning to a zero-knowledge rollup, Manta plans to release the Pacific mainnet, which will integrate ZK proof aggregation to reduce on-chain proof verification gas costs for ZK applications.
P0x Labs raised $25 million at a $500 million valuation in July, 2023, in a round led by Polychain Capital and China-focused venture capital firm Qiming Venture Partners. Investment also came from Binance Labs, which would eventually host the network’s native token sale on the Binance Launchpad.