Manta Network’s native cryptocurrency MANTA is set to launch on major exchanges including Binance, Bybit, and Kucoin on January 18th. This launch comes after MANTA was announced as the 44th token to be offered on Binance’s launchpad platform. The launchpad allows users who stake BNB and the stablecoin FDUSD to farm MANTA tokens for a limited period.
Specifically, Binance announced in a January 15th blog post that the MANTA farming pool will be open for two days starting on January 16th. Participants will have the chance to earn 30 million MANTA tokens, which is around 3% of the maximum supply and about 25% of the initial circulating supply.
The launch of MANTA on Binance’s launchpad may generate significant interest among crypto traders, much like the gaming project Xai (XAI) did when it debuted on the platform. After listing on the launchpad, XAI reached an all-time high price before experiencing a major decline in the subsequent days.
The Manta Network promotes itself as a novel multi-modular blockchain that is compatible with zero-knowledge applications and the Ethereum Virtual Machine. Through the network, Web3 users can access two types of networks – Manta Pacific, a Layer 2 chain built on Polygon’s development kit, and Celestia’s modular data availability standard.
The company behind Manta Network, p0x Labs, raised $25 million in a funding round led by Polychain Capital back in July 2023. Additionally, according to DeFiLlama, the network has amassed over $400 million in total value locked. After launching its mainnet in September last year, Manta is now ready to distribute its native token to the public through major exchanges.
