Binance Launches the 44th Phase of Coin Mining – Manta Network (MANTA)
Manta Network, an emerging public chain that has gained popularity due to the recent New Paradigm staking activity, has reached new heights with its addition to Binance.
(How will the privacy-focused Layer2 project Manta Pacific compete with zk Rollups as a newcomer?)
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Binance Launches Coin Mining on Launchpool: MANTA
Attracts 5.8 Billion USD in Mining
MANTA Price Forecast?
Manta Network Ranks as the Tenth Largest Chain after Base
LayerBank’s Fundraising Incentives
Total Reward: 30 Million MANTA Tokens (6 Million in FDUSD Pool, 24 Million in BNB Pool), lasting for two days. After staking began at 8 am on January 16, it attracted over 1 billion FUSD (1.34 billion USD) and over 14 million BNB (4.45 billion USD), totaling approximately 5.8 billion USD in MANTA distribution.
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However, the funds attracted by the distribution pools in this round are similar to the previous ones, except for the absence of the TUSD pool. (TUSD Unpegged, Poloniex Unable to Withdraw?)
Currently, MANTA is priced at 2.4 in the pre-market on BitMEX. (Understanding Token Economy Planning). The initial circulating supply is 251,000,000 MANTA tokens (25.1% of the total supply), which is approximately 600 million USD in market value.
Haseeb, Managing Partner at Dragonfly, exclaimed how Manta suddenly skyrocketed in locked value, becoming the tenth largest blockchain, second only to Coinbase’s Base chain.
According to DeFiLlama data, Manta’s TVL (Total Value Locked) has grown by 2351% within a month, reaching 420 million USD and slightly surpassing Base as the ninth largest blockchain with 428 million USD. In the Manta ecosystem, the platform with the most assets is the lending platform LayerBank, with 324 million USD.
LayerBank incentivizes users to supply, borrow, and stake on the platform through points, which will serve as the basis for Manta airdrops.
Manta Network’s timely technical narrative and powerful marketing mechanisms (referral system, NFT, points, staking, etc.) have made it highly anticipated in the recent market. As for the emerging public chain based on Ethereum L2 + external DA layer, its ability to capture a larger market in the future remains to be seen.
DA
Manta Network
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Further Reading
Biteye’s Outlook for 2024: BTC Ecology/Modular Blockchain/DA/DePIN/New Public Chains, etc.
Perspective: Competition in the Data Availability Layer (DA) Will Show Diverse Development.