What is Manta Network? Why this has 100X potential ?

Manta Network serves as a comprehensive ecosystem for zero-knowledge (ZK) applications with a modular approach.

Manta comprises two distinct networks:

1. Manta Pacific: Positioned as a unique Layer 2 (L2) ecosystem on Ethereum tailored for EVM-native ZK applications, Manta Pacific offers a cost-effective and scalable gas-fee environment. It simplifies the deployment of ZK applications using Solidity.
2. Manta Atlantic: Distinguished as the fastest ZK Layer 1 (L1) chain on Polkadot, Manta Atlantic introduces programmable identities and credentials to web3 through zkSBTs.

The combination of Manta Pacific and Manta Atlantic presents an unparalleled development and adoption experience for the next generation of web3 applications. Leveraging zero-knowledge cryptography, Manta Network aims to redefine the landscape.

Founded by a team of experienced individuals from prestigious institutions such as Harvard, MIT, and Algorand, Manta Network has garnered investments from leading web3 funds, including Binance Labs and Polychain Capital. The project has thrived in premier web3 accelerators such as Alliance DAO and Berkeley Blockchain Xcelerator. Positioned to attract the next wave of web3 users, Manta Network is poised to spearhead a new era of web3 zkApp applications.

What is Celestia?

To truly get what Celestia is all about, let’s start by unpacking the idea of a modular blockchain. Imagine a blockchain as a complex system with multiple tasks like handling transactions, reaching agreements, and storing data. Now, modular blockchains, like the one Celestia employs, take a different and smarter approach to handle all these tasks efficiently.

In simple terms, Celestia’s modular design breaks down these various tasks into separate layers. It’s like organizing a big task into smaller, specialized teams, each focusing on a specific aspect of the job. This customization allows Celestia to create a more robust and adaptable system. Contrast this with a monolithic design, like having everyone do everything in a single layer. It’s less flexible and can be a bit clunky because all the important processes—like executing transactions, settling agreements, reaching consensus, and managing data—are happening in the same space.

So, Celestia’s modular approach is like having a well-organized team, with each member doing their best, leading to a more efficient and effective blockchain system.

The capabilities that modular blockchains can specialize in include:

1. Execution
2. Settlement
3. Consensus
4. Data Availability

As a modular blockchain, Celestia focuses explicitly on providing consensus and Data Availability (DA) for various chains. The DA layer is a crucial tool, ensuring that information on the ledger is visible and accessible to everyone.

Features of Celestia

Celestia’s scaling solution introduces two essential features:

1. DA Sampling:

• This feature enables lightweight nodes to verify data availability without downloading the entire block. By allowing light nodes to conduct multiple rounds of random checks on small portions of block data, they can gain confidence that the required data is present. This enhances network security and speed and allows light nodes to operate on more cost-effective hardware than full nodes.

1. Namespaced Merkle Trees (NMTs):

• NMTs divide the ledger into distinct sections tailored for different applications. Each application focuses solely on its designated section without being bothered by information from other applications. This organizational structure streamlines the ledger, enabling each application to download only the required data. This approach enhances efficiency by avoiding unnecessary data downloads and optimizing the overall performance of Celestia’s blockchain.

Harnessing Celestia’s Data Availability (DA), Manta Pacific establishes a high-speed infrastructure that comes at a fraction of the cost compared to other Layer 2 solutions. Celestia incorporates advanced DA sampling techniques, such as two-dimensional Reed-Solomon coding and Namespaced Merkle Trees (NMTs), effectively addressing concerns related to data availability in a trust-minimized manner within Layer 2.

With Celestia serving as the Data Availability layer, Manta Pacific substantially reduces user transaction costs. This innovative approach ensures efficient data availability and contributes to a cost-effective and user-friendly experience within the Manta Pacific ecosystem.

Overview of $MANTA

Property	Details
Abbreviation	MANTA
Token Type	ERC-20, Native
Total Supply	1,000,000,000 MANTA
Inflation Schedule	2% yearly minting rate from Jan 30th, 2024
Decimals	18
MANTA (Manta Pacific)	0x95CeF13441Be50d20cA4558CC0a27B601aC544E5
MANTA (BSC)	0x8581cc815e40615998f4561f3e24e68066293595
MANTA (MoonBeam)	0xfFFffFFf7D3875460d4509eb8d0362c611B4E841
Chain	Manta Pacific

Key Features and Utility:

• Total Supply and Governance:

1. Total supply at Genesis: 1,000,000,000; 2% yearly minting rate from Token Genesis; Governance allows MANTA token holders to vote on network decisions.

• Staking and Collator Delegation:

1. Staking contributes to Manta Atlantic’s security.
2. Collator Delegation: Holders can delegate or stake MANTA to run collators, securing the network.

• Network Fees and Native Liquidity & Collateral:

1. Manta Atlantic uses MANTA for transaction fees.
2. MANTA can be used as native liquidity and collateral in the Manta ecosystem.

$MANTA Utility on Manta Pacific:

1. Value Accrual for Token Holders:
   • Sequencer revenue and gas savings from modular DA benefit token holders.
   • Funding on-chain activities and ZK applications drive demand for blockspace.
2. Builders and Contributors:
   • Direct benefits for builders and contributors from retroactive on-chain activities funding.
   • A well-funded ecosystem attracts builders, fostering growth in tools, education, apps, and infrastructure.
3. Users and Community Members:
   • Ongoing ecosystem incentives funded by MANTA benefit users and community members.
   • Value extends from advantages provided by on-chain activities and ZK applications.
4. Revenue Generation:
   • Demand for MANTA blockspace generates revenue.
   • Sequencer revenue accrues to Manta Foundation for redistribution.

$MANTA Utility on Manta Atlantic:

1. Network Usage Fee:
   • Transactions incur a usage fee; 72% is allocated to ecosystem projects, 18% to the treasury, and 10% to collators.
2. Medium of Exchange:
   • MANTA serves as the native currency for Manta Network.
   • Used to purchase credentials like zkSBTs and zkKYCs within the network.
3. Governance Rights:
   • MANTA is the voting weight for on-chain governance decisions.
   • Utilized for proposing referenda, electing council members, and shaping the future of the Manta network.
4. Network Security:
   • Collators play a crucial role; MANTA tokens incentivize them for a robust and decentralized network.
   • 2% of total issuance annually is allocated to stakes for maintaining network security.
5. Airdrops:
   • A portion of the MANTA supply is allocated to airdrops, rewarding active users supporting the Manta ecosystem.

Token Allocation for $MANTA

The initial total supply of $MANTA is set at 1,000,000,000 tokens, distributed across the specified categories as illustrated in the chart and table below.

Certainly! Here’s the information presented in bullet points and paragraphs: