Manta Pacific is presently the third-largest Ethereum Layer 2 community by complete worth locked.
As crypto markets bounce again from yearly lows, Manta Community’s not too long ago launched eponymous token is main the cost.
MANTA is up 51% prior to now week, making it the highest gainer among the many 100 most precious digital property, based on CoinGecko.
Launched on Jan. 18 with an airdrop for early adopters, MANTA is the governance token of the Manta Community, which consists of two separate networks. The flagship chain is Manta Pacific, an Ethereum Layer 2 that makes use of Celestia for knowledge availability. The opposite, known as Manta Atlantic, is a Layer 1 chain constructed on Polkadot.
With over $1.7B in complete worth locked (TVL), Manta Pacific is the third largest Layer 2. Nonetheless, it’s price noting that MANTA tokens account for over half that determine. For the reason that airdrop, externally bridged TVL has dropped by $55M, based on L2beat.
This means that opportunistic merchants could also be shifting property off the community in pursuit of the subsequent airdrop alternative. As well as, the blockchain is processing simply 1.5 transactions per second (TPS) – far fewer than main L2s like Arbitrum and Optimism.
Manta not too long ago accomplished an integration with Moonbeam to allow interoperability with the Polkadot ecosystem. It additionally plans emigrate Manta Pacific to a Polygon-based zkEVM resolution within the close to future.
