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The interoperable, privacy-preserving DeFi stack powered by Polkadot

Manta Network, the privacy-preserving DeFi stack built on Polkadot, today announced its closing of $1.1M funding. The round was led by Polychain Capital. Additional investors include Hypersphere Ventures, Three Arrows Capital, Defiance Capital, Multicoin Capital, Alameda Research, BTC12 Capital, Genblock Capital, Rarestone Capital, AU21 Capital and others.

Manta Network leverages zkSNARKs to offer privacy for transacting and exchanging as a layer-1 blockchain solution. The project intends to launch as a Polkadot parachain, which allows Manta Network to eliminate gas fees, and offer scalable privacy with faster transactions. …

May is an exciting month because it marked some big milestones for the progress of Manta Network on both the engineering and community side. We’re excited about the progress we are making as we gear up for our public testnet launch.

Technical Developments

As we get closer to testnet launch, we have been running internal benchmarks to get a better sense of scalability and user experience. For MantaSwap, our private AMM exchange, we have completed the prototype and conducted some benchmarks, which demonstrate stellar performance.

Manta Network officially announces its partnership with Crust Network to build a layer of privacy for Crust’s decentralized storage Network. Crust provides a decentralized storage network of Web3.0 ecosystem. It supports multiple storage layer protocols such as IPFS, and exposes storage interfaces to application layer. Crust’s technical stack is also capable of supporting a decentralized computing layer. It is designed to build a decentralized cloud ecosystem that values data privacy and ownership.

Working together, Manta Network will be integrating with Crust’s decentralized storage network, providing it with Manta’s zero-knowledge proof network. Manta’s ZKP solution will enable private transactions throughout Crust…

We’re very excited to welcome Albiona Hoti to the Manta Network family as the newest Mantalorian. She just joining full time as a full stack developer responsible for building out the tooling for the community side. She is also leading the Ambassador Program, as well as developer relations. She brings a wealth of relevant experience on both the developer relations and engineering side; we’re looking forward to seeing her skills build out the Manta Network community.

Albiona is a passionate software developer and community builder. She enjoys learning new technologies and building active and fun communities around them. She has…

Manta Network is proud to announce its partnership with Phala Network, a Substrate-based project that delivers confidential computing for the Polkadot Ecosystem through the use of trusted execution environments (TEEs). The two projects will work to bring full-stack privacy to the Polkadot ecosystem.

Manta Network has been very focused on product this past month. With our testnet making tremendous progress, we have also started ramping up our community activities. Take a look at what we accomplished this past month.

Product Updates

We have been hard at work on our product. In March, we had announced that our prototype was ready. At that time, people could instantiate a private version of our chain using our GitHub repo folders. Using that private chain, they could mint a private token from a public token, transact that private token, and redeem the original public token from the private token.

Manta Network is proud to announce its partnership with ChainX. ChainX is committed to Layer 2 expansion and asset gateway research of Bitcoin, well positioned to provide high-performance transaction trusteeship and interoperability among chains in asset transfer.

Manta Network and ChainX will be working together to integrate Manta’s plug-and-play privacy protocol with ChainX. As a first step, ChainX intends to offer support for private XBTC transacting. XBTC is ChainX’s wrapped version of BTC, which offers users the the ability to transact BTC on other chains.

“Our goal is to bring privacy to every token,” says Victor Ji, Cofounder of Manta…

The Manta Network team has been busy this past month, and we got a lot of great updates for the community! We’re on track for launching our testnet, and the progress has really ramped up thanks to our amazing technical team.

Product Updates

On March 29, we announced our completion of our first Web3 Foundation Open Grants milestone. Our team worked very hard to get the prototype of MantaPay up and running for this milestone. The feedback from the Web3 reviewers was very positive:

“[The Manta Network] team put a ton of effort in response to initial feedback. Clean code, well documented…

About one month ago, we launched the Manta Network Meme Contest as one of our first fun, community events that also involved some great prizes:

  1. First place wins 500 USDT
  2. Second place wins 250 USDT
  3. Third place wins 100 USDT

With this fun activity, we received lots of great entries. One of our investors, CMS, even had fun with this one. One of its Twitter accounts, CMS Intern, provided a high-quality GIF, starring Dave Franco and his crew of magicians:

Overall, we received hundreds of entries to our event. You can view them all by searching #MantaMemes on Twitter…

Manta Network

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