Manta Network: 2023 — A Year of Innovation and Scaling
2023 has been explosive for Manta Network, a year marked by amazing growth, groundbreaking product launches, and a relentless pursuit of innovation in the world of zero-knowledge (ZK) technology. From community engagement to ecosystem expansion, Manta Network has cemented its position as a leader in the web3 space. Working closely with top partners including Celestia, Polygon, and LayerZero, Manta Pacific has exploded onto the scene as the fastest-growing L2, securing itself as one of the Top 5 Ethereum L2s within a matter of months.
Our year started with the global community of 177 countries and 4,300 participants coming together to conduct what would become the largest Trusted Setup at the time, as a major step towards launching Manta Network.
We then hit the ground running on all fronts: achieving a modular architecture to take advantage of all the latest technologies, hosting some of the largest web3 events all around the world, and expanding our ecosystem to become one of the top five Ethereum L2s in the space.
Diving Deeper into Manta Pacific’s Innovations
We made history as the first Ethereum L2 to integrate Celestia’s revolutionary modular data availability layer. This groundbreaking step decouples transaction data from consensus, significantly reducing gas fees and enabling a more sustainable network. As a pioneer in this space, Manta Pacific is setting the stage for a future where L2s function with greater efficiency and scalability, ultimately benefiting users and developers alike. To know more details about the groundbreaking partnership, click here.
Not just that, we joined forces with LayerZero, a leading cross-chain communication protocol, to unlock seamless and secure asset movement between Manta Pacific and other blockchains. This has opened up a world of possibilities for DeFi users, enabling them to access liquidity pools and explore opportunities across various ecosystems without compromising on security or trust. With LayerZero onboard, Manta Pacific sets the stage for a truly interconnected blockchain landscape. Read more about the integration here.
Also, we revolutionized how L2s incentivize user adoption with the New Paradigm initiative. By dynamically adjusting fees based on network utilization, we’ve attracted a surge of liquidity to Manta Pacific, creating a win-win situation for users and developers. Lower fees for users and increased revenue potential for developers fuel positive growth and pave the way for our ecosystem projects’ incredible success within the Manta ecosystem. Click here to learn more about New Paradigm!
These game-changing innovations placed Manta Pacific in the top 5 Layer 2 chains and skyrocketed the TVL from $10MN to $20MN in Oct-Nov and from there up to $500 MN in December.
What next? We are all set to enhance the future of L2 scalability by transitioning to zkEVM. This strategic move will help us leverage the power of Polygon’s CDK framework and will offer developers a familiar coding environment while unlocking the unparalleled efficiency and security of zero-knowledge technology. The result? A streamlined experience for building dApps on Manta Pacific, paving the way for wider adoption and a flourishing ecosystem. Click here to learn more about how this transition to zkEVM will benefit you.
Fueling the Ecosystem
Our Manta Pacific Grants Program and Roadmap outlined our commitment to supporting ZK innovation and building a sustainable future. Directly as a result of these initiatives, projects like AsMatch have been able to launch successfully as the first Social Layer on Manta Pacific.
Not just that, we welcomed established players like QuickSwap and ApolloDex and our Grant Waves provided vital support to promising projects like Galxe, AsMatch, ReadOn, and Polyhedra, fueling the growth of the Manta ecosystem and further strengthening our network’s DeFi offerings. We also teamed up with our frens at Space ID to exclusively launch .manta domains. More details can be found here!
Reaching New Heights
We raised a Series A round led by Polychain and Qiming VC, validating our vision and securing resources for future growth. Backed by giants like Binance Labs, Polychain Capital, and CoinFund, with over $60 million in funding secured in total, Manta Pacific has the resources and backing to make a lasting impact on the blockchain landscape.
Growing with the Community
To celebrate the launch of Manta Pacific, we launched MantaFest which brought together ZK enthusiasts for a month of exploration around the Manta Pacific ecosystem. After the successful conclusion of MantaFest, we launched another exciting campaign — Manta Takeover, that amplified the voices of our passionate community members. Furthermore, many of you may be familiar with the New Paradigm, which is our most successful new product. It alone has brought $500m in TVL and 100k+ new users to Manta Pacific.
Not just that, surpassing the 500k X follower milestone marked a significant milestone in our community growth.
2024: A Year for Change and Social Impact
2023 marked an incredible year for Manta Network. 2024 will mark an even better one. As the project continues to take massive strides in an effort to consistently improve the network and user experience on the infrastructure level, Manta will continue to push the boundaries of what is possible as an L2. On that note, one of the major milestones we look to achieve in 2024 is the transition over to zkEVM leveraging Polygon CDK.
Furthermore, 2024 will be a year to position Manta Network’s contribution to the world. Simply being a top L2 in the web3 space is not enough. Our mission is much broader with more long-term thinking in mind. With the traction and adoption we have achieved in 2023, we are well-positioned to manifest that position this new year. In 2024, we will focus much of our efforts in support of new ecosystem projects and also prioritize what our founders care about the most: social impact. 2024 will mark the year when we begin our social impact initiatives to encourage and drive change that will touch people all around the world.
Manta Network will also catalyze its path to decentralization through an innovative new governance system, which leverages checks and balances to create a fair and democratic approach for major decision of the network moving forward. We are excited to release more details about this governance system as it comes closer to launch.
As 2023 draws to a close, Manta Network stands poised for even greater heights in the year to come. The successful integration of Celestia’s data availability layer and the continued development of the Manta New Paradigm are just a glimpse into the future of ZK technology that Manta is building. With a thriving community, a robust ecosystem, and a relentless focus on innovation, unleash your creativity with our developer-friendly tools and be a part of the next generation of secure, efficient, and scalable blockchain applications. See you in 2024!
About Manta Network
Manta Network is the modular blockchain for zero-knowledge (ZK) applications. Manta Pacific is the modular L2 ecosystem for EVM-native ZK applications and dApps that want to deliver the lowest cost and best experience for users. Leveraging Manta’s Universal Circuits to enable ZK-as-a-Service and Celestia’s data availability for modularity to deliver low gas fees, Manta Pacific offers the perfect environment for ZK-enabled applications. Learn more about Manta Pacific here.
Manta Network was created by a team of experienced founders from prestigious institutions, including Harvard, MIT, and Algorand. Manta Network has received investments from many of the top web3 investment funds, including Binance Labs and Polychain Capital. It has grown through participation in the best web3 accelerators, including Alliance DAO and Berkeley Blockchain Xcelerator.
