What is Manta (MANTA)? Details of the Manta Network project
Binance has just announced that Manta (MANTA) will be the 44th project to appear on Binance Launchpool. So what does Manta have that makes it onto Binance's Launchpool?
Manta Network is a modular ecosystem for web3. Users can build and deploy any Solidity-based decentralized application on Manta and leverage its technology platform to deliver faster transaction speeds than L1 and lower gas fees than L2.
Manta Network serves as the gateway for ZK applications, using blockchain module and zkEVM to establish a new model for L2 smart contract platform.
Manta Pacific addresses usability concerns through a modular infrastructure design, enabling seamless integration of modular DA and zkEVM to continuously enhance the user experience over time.
How does Manta work?
The protocol includes the following main components that work together:
Modular Data Availability: call data from each transaction processed by Celestia, significantly reducing the cost of each transaction processed on Manta Pacific.
Permissionless Smart Contracts: projects on Manta Pacific can be deployed using Solidity-based smart contracts compatible with EVM environments.
Universal Circuits: developers can build applications that support ZK by leveraging Manta Pacific's “universal circuits,” which provide a library of generic and pre-compiled ZK circuits for use cases. Various applications including DeFi, GameFi, identity, etc.
Manta's mission and values
Mission: Manta Network's goal is to drive web3 adoption by providing an infrastructure environment that brings real and scalable use cases to market.
Manta's modular infrastructure allows it to leverage the best emerging technologies including Celestia for DA, Polygon CDK for zkEVM, and many more innovations on the horizon.
Modularity in Manta enables rapid and flexible innovation at the infrastructure level to continuously deliver new features and services that deliver better user experiences at the infrastructure level . Manta offers faster transaction speeds than any L1 and lower gas fees than any L2.
Key highlights of Manta:
Generalized ZK: Manta Pacific provides a library of ZK circuits that give any Solidity developer the tools needed to build ZK-enabled applications by adding just a few lines of code to an existing contract. their.
Modularized call data: Manta Pacific leverages Celestia to enable the DA module, making it the cheapest L2 to execute transactions. The DA module separates call data significantly reducing gas costs for users.
Type 1 zkEVM: Manta Pacific uses Polygon CDK to deliver type 1 zkEVM, providing a native EVM experience on L2.
Permissionless: Manta Pacific is a “public L2,” giving developers equal opportunity to build and deploy scalable applications.
Manta's products include:
Manta Pacific: L2 Module on Ethereum – Manta Pacific is the first L2 to move to a DA module and uses Celestia to enable that functionality. Call data from Manta Pacific transactions posted to Celestia. As a result, transactions on Manta Pacific can be performed at lower costs than transactions on other L2s.
Manta Pacific uses a modified OP Stack and is moving to a multi-vendor system to enable ZK proof generation for batch transactions. In the future it will completely switch to the ZK proof system, turning Manta Pacific into zkEVM.
Manta Atlantic: Substrate L1 is designed to deliver optimal performance for private on-chain identity verification. Manta Atlantic has compiled ZK circuits at runtime, allowing for the fastest execution for local proof generation compared to any other ZK-enabled L1. Manta Atlantic specializes in on-chain identification.
Distribution
MANTA tokens will be distributed as follows:
Private Investors: 12.94%
Public Investors: 8%
Strategic Investors: 6.17%
Institution Investors: 5%
Airdrop: 5.6%
Binance Launchpool: 3%
Team: 10%
Advisor: 8.1%
Ecosystem/community: 21.19%
Treasury: 13.5%
Airdrop 2: 6.5%
Manta on Binance Launchpool
Users will be able to stake their BNB and FDUSD into pools to farm MANTA for two days, with farming starting on January 16, 2024 00:00 (UTC).
Binance will then list MANTA at 17:00 on January 18, 2024 and open trading on MANTA/BTC, MANTA/USDT, MANTA/BNB, MANTA/FDUSD and MANTA/TRY trading pairs.
Information about MANTA tokens
Token name: Manta
Code: MANTA
Developed on Blockchain: Palkadot
Contract: update…
Token type: Utility, Governance
Total supply: 1,000,000,000
Circulating supply: update…
MANTA Use Cases
MANTA is the utility token of Manta Network and is used for:
Voting: MANTA token holders can vote on governance decisions on Manta Pacific and Manta Atlantic.
Staking
Network fees: Manta Atlantic uses MANTA to pay transaction fees.
MANTA can be used in Manta ecosystem services as liquidity and native collateral.
Calendar release
Development roadmap
Q4 2023
Launch of Manta Pacific Mainnet Alpha II
Manta Atlantic Mainnet Launch
Integrate Celestia DA with Manta Pacific Mainnet
Q1 2024
Multiprover is enabled on the Manta Pacific testnet
Switch to zkEVM on testnet
Q2 2024
Manta Pacific Mainnet Beta Launch
Multiprover is enabled on the Manta Pacific mainnet
Switch to zkEVM on mainnet
Universal Circuits 2.0 is released on testnet
Q3 2024
Manta Pacific Mainnet Production I Launch
Universal Circuits 2.0 is released on mainnet
Development team
update…
Investors
The project has raised 60 million USD from private and public round token sales, in which many investment funds have participated, including “Binance Labs, Polychain Capital, Spartan…”
summary
So I have introduced you to Manta. Hope you have grasped the basic information about the project. Because investing in the cryptocurrency market is always risky, please research carefully before making an investment decision.
MANTA traders use a variety of signals and technical indicators to predict the trajectory of prices. Although not all methods are necessary to accurately forecast the direction of the market, some key indicators are more commonly used. Identifying Manta Network support and resistance levels gives traders insight into market supply and demand while also helping to identify trend reversals. Additionally, chart patterns are also widely used by traders to form trend lines that help predict the next candlestick move. Various indicators such as RSI, MA and MACD can be used to determine the direction of long-term trends and attempt to predict future price movements.
Price action is neutral, the price fell below the horizontal resistance zone of $0.704213 after moving above previously. Such deviations are considered neutral signs. Despite this decline, MANTA's price remains %23.66 positive since the beginning of the year.
RSI
The RSI indicator provides additional insight into market momentum by measuring the movement of Manta Network's price, thereby determining whether it is overvalued or undervalued. Market traders use the RSI as a momentum indicator to identify overbought or oversold conditions and decide whether to accumulate or sell an asset. Indices above 50 and an uptrend show that buyers still have the advantage, while indices below 50 show the opposite. According to RSI, on the 1-week time frame, Manta Network is currently trending with the actual RSI at . Line 50 may provide if the indicator returns to that line.
GHOST
Moving Average (MA) is an important analysis tool that gives traders a more complete picture of what is happening on the chart by calculating the average closing price of Manta Network over a range. certain time. The relationship between short-term and long-term moving averages is important in determining the direction of the trend. When the short-term MA moves above the long-term MA, it is a sign that the trend is gradually turning up. On the "weekly" SMA timeframe, Manta Network is in a neutral trend as the 50x MA has crossed below the 200x MA and the price is trading above both lines. Additionally, the trend is neutral if the 50-day moving averages are above the 200-day moving averages but the price is trading below them (and vice versa).
MACD
Finally, MACD uses Simple Moving Averages (SMA) and Exponential Moving Averages (EMA) to predict trends more accurately. In a similar way to simple moving averages, the relationship between the two is useful in determining the direction of a trend. For all these indicators, weekly timeframe is used to identify long term trend, daily timeframe is used for intermediate trend while 6 hour timeframe is used for downtrend short term direction. According to MACD, on the 1-week timeframe, Manta Network is currently trending as the MACD signal line has moved 50 periods ago and the histogram has been positive/negative for 50 periods.
Current Manta Network copper price
Manta Network price is currently at $3.15 (MANTA/USD) with a market capitalization of 788.8M. The 24-hour trading volume is 622.1M USD, %23.14395 showing positivity. With a circulating supply of 251M, the price movement of Manta Network coin is currently positive.
Fundamental analysis of Manta Network coin
Fundamental analysis aims to evaluate the inherent value of an asset, while technical analysis involves examining statistical patterns in the price and volume of that asset. Both techniques are used to analyze and predict potential future price developments of that asset. In the case of MANTA, the simplest way to perform fundamental analysis is to look at supply and demand dynamics. Additionally, market capitalization (788.8M) and circulating supply (251M) can be considered to make reasonable price assumptions for the future. On the demand side, it is possible to look at on-chain data regarding the number of new and active addresses as well as the number of transactions.
In short
It is important to note that some price predictions may be contradictory. There is no clear method to determine the future value of any cryptocurrency. This is due to many factors involved in price prediction. It is not uncommon for an announcement to significantly change the price trajectory of a coin at any given time. The market as a whole can influence the movement of a coin as well as any updates to the project's technology. Always do your own research before investing in any cryptocurrency.
