Manta New Paradigm — Killer of Blast?

What is Manta Pacific?

Manta Pacific is the first EVM-native modular L2-level execution layer specifically designed to implement and utilize ZK technologies. It is a layer 2 blockchain built on OP Stack and Celestia within the Ethereum ecosystem. Utilizing Celestia allows transactions in Manta Pacific to cost less than $0.01.

Another important feature of the project is Universal Circuits, which makes it easy to develop zk-applications within the Manta ecosystem. This is made possible through the use of Polygon CDK.

Manta Network Raised Over $60M

Manta has been in development for over 3 years now. They held a Seed round in February 2021, raising $1.1M with participation from Tier 1 funds such as Multicoin Capital and Polychain Capital.

In October '21, the project announced a $5.5M round with participation from ParaFi Capital, The Spartan Group, and others.

In November of the same year, the project held a public sale on the Tokensoft platform, selling 80 million tokens at a price of $0.36, raising an additional $28.8M.

It's worth noting that at that time, the project was still being developed on the first-level blockchain of Manta Atlantic within the Polkadot ecosystem. In 2023, the project was launched on the Manta Pacific.

In July 2023, the project raised another $25M at a valuation of $500M in its Series A round. This means that funds like Polychain Capital, Qiming Venture Partners, Coinfund, and others likely invested at $0.5 per token in the billion-dollar token offering.

Manta New Paradigm

Now, the project has launched a new Layer 2 blockchain in its Manta New Paradigm ecosystem. The name is a reference to the Paradigm and their recent investment, Blast. Similar to Blast, Manta New Paradigm provides native yields on Ethereum and USDC at a rate of 4-5%. This is accomplished by staking ETH and US Treasury Bonds. Deposited funds will be locked for a period of 69 days.

Rewards

In addition to the native returns on the deposit project, it also offers:

• A future drop of the token Manta for those who have made a deposit. This includes an allocation of 3% of the total offer plus 2% of special rewards.
• Immediate receipt of liquid STONE (Stone Ether) and wUSDM tokens that can be used in the Manta Pacific ecosystem.
• Additional rewards from Manta Pacific ecosystem projects.
• Restacking stETH in EigenLayer.
• NFT Box Pieces for depositing and inviting friends. The amount depends on the deposit. For example, if you deposit 1 ETH, you will receive 25 Box Pieces in 7 days. These pieces can be combined into a Box, and once opened, you will receive an NFT. If you collect 6 pieces, they can be combined into "the First Modular L2" NFT, which can be sold on the marketplace.

Campaign Phases

A complete schedule for the entire campaign is also provided, which will be divided into three phases.

Phase 1

During this phase, users can deposit ETNs or USDCs to earn yield and acquire Manta Box Pieces. The deposit option will be available until January 2024.

Phase 2

In this phase, users will be able to receive STONE and wUSDM tokens 24 hours after making a deposit. These tokens can be used for farming within the ecosystem. The NFT reward claymores will be available until January 2024, before the deposit period ends.

Phase 3

After 69 days of award distribution, users will have the option to withdraw funds from their STONE and wUSDM holdings.

Conclusion

Manta New Paradigm captures attention with its aggressive marketing approach, cleverly satirizing the controversial Blast. Additionally, it offers significantly more enticing rewards.

To participate, you will need to use invite codes. Fortunately, we have a few available for you:

• 9YIWU