Binance Introduces MANTA Network on its 44th Launchpool Project as Manta Pacific’s TVL Surpasses $800 Million
Binance, a leading cryptocurrency exchange, has announced its 44th project on Binance Launchpool, introducing Manta (MANTA), a modular Layer 2 solution designed for Zero-Knowledge (ZK) applications. Users have the opportunity to stake their BNB and FDUSD in separate pools for a two-day farming period to earn MANTA tokens.
This strategic move coincides with the significant surge in Total Value Locked (TVL) within Manta Pacific, the in-house Layer 2 modular blockchain by Manta Network. The addition of MANTA has garnered substantial attention in the crypto space, providing enthusiasts with an innovative entry point into the growing decentralized finance (DeFi) ecosystem.
Binance is set to list MANTA on January 18, 2024, with trading pairs including MANTA/BTC, MANTA/USDT, MANTA/BNB, MANTA/FDUSD, and MANTA/TRY. The Seed Tag will be applied to MANTA for seamless integration into the Binance ecosystem.
The MANTA Launchpool offers a maximum token supply of 1,000,000,000 MANTA, with 30,000,000 MANTA (3% of the maximum token supply) available as rewards. During the farming period from January 16 to January 17, 2024, users can stake BNB and FDUSD separately, each with its reward pool.
Binance users are encouraged to take advantage of the opportunity, leveraging hourly rewards and benefiting from MANTA’s robust features. This move reinforces Binance’s commitment to pushing the boundaries of DeFi and providing the crypto community with cutting-edge opportunities.
The launch also highlights Binance’s dedication to user-friendly experiences, allowing participants to unstake their funds at any time, switch between available pools seamlessly, and accumulate rewards directly to their spot accounts. Binance BNB Vault and Locked Products will support the Launchpool, ensuring comprehensive and inclusive engagement for users staking their BNB.
Eligibility for participation in the MANTA Launchpool is contingent on the user’s country or region of residence, with specific regulations outlined on the Launchpool page. Notably, residents in certain countries, including the United States, Japan, and Canada, may not be eligible for participation.
Despite eligibility considerations, the listing news has generated significant enthusiasm from crypto enthusiasts, coinciding with the remarkable growth in Manta Pacific’s TVL. The native Layer 2 modular blockchain experienced a surge, surpassing $800 million and reaching $838 million, according to L2BEAT data.
This notable increase underscores Manta Network’s robust growth, solidifying its position as a rapidly expanding Layer 2 solution within the Ethereum ecosystem. Concurrently, as Binance continues to innovate and expand its ecosystem, MANTA emerges as a promising addition, offering users a dynamic entry point into the ever-evolving world of decentralized finance. The crypto community eagerly anticipates the transformative impact of MANTA on Binance Launchpool and beyond.
Meanwhile, the BNB price rallied 4.74% to $318.07, with its trading volume soaring 80% to $1.35 billion at the time of writing.