The interoperable, privacy-preserving DeFi stack powered by Polkadot

October 2020 to February 2021

Since the start of the project, the Manta Network team has been working hard on both the strategic and product sides. We have been fortunate to bring tremendous strides in a short amount of time with an agile and talented team. Our progress updates are bucketed into the following categories: product/engineering, fundraising, marketing/community, and team/advisory/partnerships.

We also look forward to the product and strategy milestones that we intend to complete before the end of this quarter. …

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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. …

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On January 27, 2021, Manta Network hosted its first AMA in partnership with Tidal Finance. Manta Network was represented by Victor Ji, Chief Strategy Officer and cofounder of the project. On the Tidal Finance side, Chad Liu, CEO and founder of Tidal Finance, joined.

The announcement was made on Twitter, and followers had a chance to submit their questions to learn more about both projects. The AMA itself was hosted on the Manta Network Telegram Channel. We received many questions for both Manta Network and Tidal Finance, and the recap of that session is outlined below.

Questions for Manta Network

Could you please…

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Manta Network today announced its partnership with Reef Finance to work on increasing the liquidity of Manta’s trading pools on its privacy-preserving decentralized exchange. Additionally, Reef and Manta intend to explore privacy-token modularity and new use cases for it in DeFi. Reef is a smart liquidity aggregator and yield engine that enables trading with access to liquidity from both CEXs and DEXs while offering smart lending, borrowing, staking, mining through AI driven personalized Reef Yield Engine.

“Getting liquidity will be key for our DEX product because it directly affects the user experience,” said Victor Ji, cofounder of Manta Network. …

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Manta Network is proud to announce our partnership with Equilibrium. Equilibrium offers a cross-chain money market that combines pooled lending with synthetic asset generation and trading. Equilibrium will bring in its technical expertise to advise Manta on an open standard for fungible tokens with the potential for privacy-preservation leveraging zero-knowledge-proof technology. The partnership will also facilitate collaborative research aimed at improving interoperability among Polkadot parachains, and the security of decentralized exchanges.

“The work we’re doing with Equilibrium will be critical to our success,” said Victor Ji, co-founder of Manta Network. …

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Manta network is excited to announce its partnership with Tidal Finance. Tidal Finance is an insurance cover marketplace that allows users to create custom insurance strategies for one or more assets. The Manta Network team will utilize the TIDAL platform to provide cover for its users, participating in the coverage pools also helps TIDAL to increase LP’s returns.

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With the Ethereum 1.0 main net launch in 2015, blockchain entered into a new, Turing-complete chapter. Fast-forward to now, and we are experiencing a tremendous level of adoption for on-chain applications, especially regarding decentralized finance (DeFi). While existing decentralized projects and applications are proving the need and demonstrating a market for DeFi, we believe that adoption is only beginning.

To take DeFi to the next level, we need to address the existing issues: the lack of privacy, speed, and interoperability. …

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The first privacy-preserving DeFi stack powered by zkSNARK

What is Manta Network?

Manta is a set of easy-to-use and secure (open source and auditable code) protocols based on Substrate frameworks. It uses zk-SNARK to provide complete end-to-end anonymity, high throughput, and high cross-chain interoperability (it supports Polkadot and its parachain mainstream cryptocurrencies and stable coins). It includes a decentralized privacy payment protocol, a decentralized privacy token exchange protocol, and a decentralized privacy lending and synthetic asset protocol to be developed in the future. Manta’s founding team comprises many US cryptocurrency veterans, professors, and scholars whose experience includes Harvard, MIT, Algorand, and other institutions.

Why the crypto world needs Manta?

Compared with traditional finance, decentralized finance (DeFi) is more…

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The first privacy-preserving DeFi stack powered by zk-SNARKs

The summer of 2020 witnessed the mania of Decentralized Finance (DeFi) which swept the crypto world with its market value once exceeding US$1 bn and hundreds of billions of digital assets involved in the financial services provided by DeFi products. …

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