Manta Pacific launch guide: architecture, metrics, ecosystem and tokenomics
Thread1,097 words
Bullish call$MANTA−97%since listing, moved against the callHow it played out ↓Mega-thread before the MANTA token launch: OP stack plus Celestia architecture with a DA cost cut above 99%, $946M total value bridged, $407M DeFi TVL, leading apps, a Polygon CDK zkEVM roadmap and 1B supply tokenomics.
Key claims
TVB $946M, 4th on L2Beat
DefiLlama TVL $407M, about 43% of TVB
LayerBank holds 77% of ecosystem TVL
1B genesis supply with 2% yearly minting
MANTA token is launching & it's @MantaNetwork season! 🔱
🚀 1st modular L2 built on @CelestiaOrg
🚀 1st EVM L2 with ZK-opcode support
🚀 >$900M in TVL
🚀 >1'000% growth in 30 days
🚀 >12% of supply airdropped
Mega-🧵 to get you ready for one of the biggest launches of 2024! 🚀
1/ @Celestia's modular data availability (DA) layer has been one of the most important launches since Ethereum.
The modular era is upon us and Celestia's tech will give rise to life-changing opportunities.
One of them @MantaNetwork. You ready anon?
2/ This thread will provide you all the information to position yourself for the MANTA token launch & beyond!
We will cover:
🏗 Manta Architecture
📊 Network Metrics
🚀 Manta Roadmap
🌐 Ecosystem
🪙 Tokenomics
🪂 Airdrop
💸 Price Prediction
3/ 🏗 Manta Architecture
Currently, @MantaNetwork's L2 is an optimistic rollup built on the Bedrock version of the OP stack.
Manta Pacific runs an EVM-equivalent execution environment that supports ZK-opcodes, making it the only EVM chain that supports natively private zkApps.
4/ This is big and gives @MantaNetwork a unique selling proposition that none of their EVM competitors have.
If you want to learn more about the universal ZK circuits that enable this, check out my thread below! 👇
x.com/zerokn0wledge_/status/1691214925929078784
5/ The main scalability bottleneck that rollups face today, is that the capacity of Ethereum to handle data is very limited.
Rollups have to pay for calldata, which is expensive and accounts for roughly 90% of an Ethereum-based rollups cost base.
x.com/zerokn0wledge_/status/1661794274206445569
6/ To overcome these limitations, @MantaNetwork posts data to @CelestiaOrg instead of Ethereum.
However, state validation (ZK proof verification in the future) still happens on Ethereum.
7/ Only an attestation that the data is available on Celestia is bridged over to Ethereum via Celestia's Blobstream bridge.
This ensures that Ethereum is aware that the data is actually available on @CelestiaOrg.
8/ Through the @CelestiaOrg integration, Manta Pacific has reduced the DA cost by >99%, making it one of the cheapest L2s out there!
9/ However, the full ecosystem of @MantaNetwork also includes Manta Atlantic, a lightning-fast substrate-based L1
Manta Atlantic is focused on private payment & zkNFT use cases.
10/ 📊 Network Metrics
The Total Value Bridged on Manta Pacific has grown over 14x in just one month!
According to @L2Beat Manta's Total Value Bridged (TVB) amounts to $842M at the time of writing.
11/ This puts Manta in 4th place according to the @l2beat ranking, just behind:
✦ @Arbitrum
✦ @Optimism
✦ @MetisDAO
12/ However, there is more.
If we look at the value locked in the New Paradigm bridge, we see that there is 289K ETH locked.
This alone amounts to $736M at the time of writing!
13/ Additionally, Manta New Paradigm participants have bridged $132M in USDC.
This brings the Total Value Locked (TVL) in the New Paradigm bridge to $868M!
14/ On @L2Beat, we see this value in the form of:
✦ 288k STONE
✦ 129.4M wUSDM
Aside that, there is roughly $78M in other, canonically bridged assets on Manta Pacific.
15/ This brings overall TVB to an impressive $946M!
Looking at L2Beat data, we see how close the battle for the third spot with @MetisDAO actually is!
16/ So, let's have a look at how this capital is utilized within the ecosystem.
Having millions in value just sitting idle is not great from a capital efficiency perspective.
Looking at @DefiLlama, there is an impressive $407M locked across DeFi apps in the Manta ecosystem.
17/ This puts Manta Pacific in the fourth place according to DefiLlama's TVL data with a TVB utilization of roughly 43% (which is pretty strong).
Month-on-month growth amounts to a whopping 2'707% increase!
18/ Daily transactions on the network peaked at over 500k on December 22nd.
Since then, it has pretty much consistently been above 100k transactions per day.
In total, Manta Pacific has processed >8.7M transactions and amassed almost half a million users!
19/ 🌐 Ecosystem
So what are the leading apps?
The undisputed TVL king clearly is @LayerBankFi, a lending protocol, which accounts for a whopping 77% of ecosystem TVL.
This is followed by @ShoebillFinance V2 (lending), which accounts for 13% of TVL and @QuickswapDEX with 4.3%.
20/ More DeFi:
✦ @ApertureFinance - Concentrated Liquidity DEX
✦ @steerprotocol - Automated Liquidity Mgmt
✦ @izumi_Finance - Liquidity as a Service
✦ @pacificswap - Concentrated Liquidity DEX
✦ @KiloEx_perp - Perps
✦ @Range_Protocol - Asset Management
✦ @appollox - Perps
21/ A special spotlight, I want to put on two apps that build on @MantaNetwork's unique ZK functionality!
First up, @AsMatchApp, a promising decentralized social network app that might finally bring us the SocialFi app we need & deserve!
22/ The second one is @zkHoldem, an on-chain Texas Hold'em Poker game, powered by ZK proofs and Homomorphic Encryption!
@zkHoldem is built on @MantaNetwork's zkShuffle circuit.
For more details, check the thread below!
x.com/zkHoldem/status/1626567760527626242
23/ 🚀 Manta Roadmap
Already pretty cool right?
Well, it gets even better!
@MantaNetwork has a packed roadmap with a lot of exciting updates ahead as we enter MANTA season!
24/ Currently, we're in stage 2.
Manta Pacific is in Alpha II & has integrated @CelestiaOrg for DA.
The next step in this evolution will transition @MantaNetwork to a zkEVM built on the Polygon CDK!
Learn more about stage 3 here! 👇
x.com/zerokn0wledge_/status/1714146521917071529
25/ In stage 4, @MantaNetwork will further upgrade the Universal Circuits to enable lower gas costs, support more use cases, and provide even better UX.
This means:
🔥 Integration of ZK proof aggregation to drastically reduce the on-chain proof verification gas costs for zkApps
26/
🔥 Improve the throughput for ZK processing.
🔥 Integrate additional ZK schemes & smart contracts to support more ZK-enabled utilities.
🔥 Enable Account Abstraction (AA)
27/ With stage 4, @MantaNetwork's vision of a zk-powered & EVM compatible execution layer with unparalleled scalability will be fully realized.
Considering the hype now, imagine how wild it will get once we are there!
I will definitely stick around to find out!
28/ 🪙 Tokenomics
The MANTA token is about to go live with initial listings on major exchanges including:
✦ @binance
✦ @kucoincom
✦ @Bybit_Official
✦ @MEXC_Official
✦ @gate_io
✦ & more!
29/ MANTA Summary:
✦ Total genesis supply: 1'000'000'000
✦ 2% yearly minting rate from Genesis
✦ Governance on Manta Pacific & Atlantic
✦ Staking & Delegating to secure Manta Atlantic
✦ Network Fees on Manta Atlantic
✦ Native Liquidity & Collateral in Manta ecosystem
30/ MANTA will initially have a total supply of 1,000,000,000 $MANTA distributed among the categories outlined in the chart and table below.
22 more images on X
How the call played out · since 15 Jan 2024
Prices as of 23 Oct 2026This piece takes a view on $MANTA, so that move is read against the call.
−97%
Moved against the call · since it listed on 19 Jan 2024, 4 days after this piece
- At listing
- $2.16
- Now
- $0.065
- vs BTC
- −98%
- After 1 month
- +35%
- After 3 months
- −15%
- After 1 year
- −62%
- High since
- +81% 13 Mar 2024
- Low since
- −97% 19 Aug 2026
Since then
Zero has written 1 more piece on Manta Network and $MANTA since this one.
- Liquid staking MANTA via Bifrost to farm ecosystem airdropsBullish call on $MANTA
Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish thesis is read as a call; explainers, maps and mentions are context. Not financial advice.