Manta Network Overview

Date: 2021-03-30
Authors: @LUUDYOR
Reviewers: @cuongvn08

MantaNetwork is building an interoperable, privacy-preserving #DeFi stack using Substrate to ensure they reap the benefits of the burgeoning Polkadot ecosystem

The problem we see today is that the blockchain lack privacy, interoperability, and usability, which trickles down into many other issues. That’s why we’re building Manta Network, an interoperable and private protocol for the DeFi stack, with a privacy-preserving decentralized exchange as our first use case.

They are building it as a layer-1 solution, which means that privacy will exist in the core architecture, rather than a feature sitting on top of another blockchain. By using Substrate, we can take advantage of the interoperable ecosystem that Polkadot brings.

Fundamentals:

1. Private Transacting:

– Manta Network leverages zk-SNARKs, a non-interactive form of zero knowledge proofs, to deliver scalable, private transacting and swapping. Because zk-SNARKs is a code-based solution, we have the advantage of flexibility and speed for the best user experience on a decentralized exchange: fast and private.

2. Private Swapping:

– Because we are building a layer-1 solution using Substrate, we are in control of the underlying blockchain consensus. Furthermore, we employ the UTXO model for “burner addresses” that obfuscate identity for swaps. While prices and volume are fully transparent, identity is unlinked and users can swap in private.

3. Decentralized:

– They are building a decentralized privacy stack for DeFi that is governed by the community. The governance, among other features, is represented by the Manta Network token, $MA. Governance features for topics including selecting new trading pairs and tokens to include in the exchange will be decided by the token holders in the community.

Competitors:

1. Manta Network Community Meme Contest

Tokenomics:

1. Manta Swap
2. Fund Raise: Manta Network Raises $1.1M Led by Polychain Capital to Build Privacy Preserving Decentralized Exchange (Feb 2nd)
3. Private sale :  N/A
4. Public sale : N/A

TGE/Listing:

N/A

Team:

1. Shumo Chu
…Updating

Investor:

– Polychain Capital
– Hypershere
– Multicoin Capital
– Rarestone
– AU21
– Alamenda Research
– TRG CAPITAL
– GENBLOCK CAPITAL
– BTC12 Capital
– THREE ARROWS CAPITAL
– DeFinance Capital
– Advanced Blockchain AG
– Origin Capital

Advisors:

1. Ben Perszyk (https://twitter.com/BenPerszyk)
2. AMA with Tidal Finance

Partners/backers:
1. Clovers Finance
2. Reef Finance
3. Equilibrium
4. Polkaswitch

Ecosystem:

N/A

Reference:

1/ Website
2/ Twitter
3/ Telegram
4/ Contact

 

BTA Ventures