Kenny Li, Co-Founder of Manta Network, discusses the modular design of Manta Pacific and its use of the OP stack, Celestia, and Polygon's zkEVM. They explore the role of Manta Network in a crypto-native future and delve into yield-bearing L2 solutions and Manta's latest funding round. The podcast also touches on the significance of a modular approach for scalability and economic sustainability, and the multiple purposes of the Manta token within the ecosystem.
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Quick takeaways
Manta Network offers a modular ecosystem for ZK applications, providing scalable and secure platforms like Manta Pacific and Manta Atlantic.
Manta's strategic focus on economic sustainability, value accrual, and revenue generation positions them for future growth and expansion in the blockchain ecosystem.
Deep dives
Manta Network: A Modular Blockchain Ecosystem
Manta Network is a modular blockchain ecosystem for ZK applications, offering Manta Pacific, a scalable and secure EVM equivalent ZK application platform, and Manta Atlantic, a ZK Layer 1 chain. Manta aims to provide a resilient network that can scale and adapt over time. Their modular design allows them to integrate key technologies like Celestia and Polygon ZK EVM, reducing gas fees and improving user experience. They focus on economic sustainability and value accrual, with revenue generated from fees that are used for ecosystem growth and development. Manta's recent funding round positions them strategically for future growth and expansion. They are also excited about their new paradigm, a yield-bearing L2 that has gained significant traction. Despite some challenges and the need for further improvement in communication, Manta is a sleeping giant ready to push growth in the blockchain ecosystem.
The Future of the Crypto-Native Economy
In the next 10 years, Manta envisions a globalized crypto-native economy that transcends geographical limitations and allows seamless peer-to-peer interactions. They believe in the borderless transfer of electronic verifiable money, fostering a truly global economy. Manta aims to position itself strategically for this future by providing scalable and flexible infrastructure that can adapt to ever-evolving technological advancements. Their commitment to modularity ensures that they can leverage the best technologies available, while their focus on sustainability and longevity drives their decision-making. Manta believes that by creating a resilient and scalable network, they can contribute to the growth and success of the blockchain landscape.
Challenges and Opportunities
Manta acknowledges the challenges posed by regulatory compliance and strives to navigate this landscape effectively. They focus on maintaining operational resilience and security, particularly in their modular approach where trust assumptions play a crucial role. Manta's key performance indicators include total value locked (TVL), TVL utilization, average daily active users, and the number of smart contracts interacted with. They aim to enhance user activity and engagement to foster a thriving ecosystem. Manta is excited about upcoming milestones such as the transition to ZK-EDM using Polygon CDK and the facilitation of asset withdrawals on their network.
In today’s episode, we’re joined by Kenny Li, the Co-Founder of Manta Network, the modular ecosystem for ZK applications. Manta offers two networks, Manta Pacific, the first EVM-equivalent ZK-application platform that is scalable and secure through Celestia DA and Polygon zkEVM - and Manta Atlantic which is a ZK L1 chain on Polkadot.
In this episode, we focus on Manta Pacific and dive into its modular design. Kenny walks us through their use of the OP stack, Celestia, and Polygon’s zkEVM. We speak about the rationale behind this modular design and envision Manta’s role in a crypto-native future. We speak about the recently launched yield-bearing L2, New Paradigm, and learn what yield-bearing L2s are all about. We also touch on the role of the MANTA token within the ecosystem, and discuss Manta’s latest funding round.
Tune in as we dive deep into the world of modular blockchains.
Manta Network: https://manta.network/
Kenny on X: https://twitter.com/superanonymousk
Manta on X: https://twitter.com/mantanetwork
New Paradigm: https://newparadigm.manta.network/about
Manta Pacific on Token Terminal: https://tokenterminal.com/terminal/projects/manta
Make sure to leave a comment if you have any questions 🙌
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Timestamps:
00:00 Introduction
01:57 Overview of Manta Network
02:23 The core problems that Manta Pacific aims to solve
05:03 Overview of Manta Pacific’s modular tech stack
08:00 The benefits of using Celestia for modular DA
10:52 How does Manta Pacific address the specific needs of ZK applications?
14:26 Examples of ZK use cases that benefit end users
17:46 The modular vs. monolithic debate – why is modularity better?
24:13 Introduction to New Paradigm: a yield-bearing L2
27:54 “It’s time to ditch other L2s”
29:38 Crypto as the enabler of a borderless global economy
34:16 Manta Pacific’s economic model
37:11 Value accrual
38:50 The role of the MANTA token
40:00 Reflecting on Manta’s recent funding round
44:29 The team behind Manta Network
45:29 The metrics and KPIs Manta uses to measure success
47:10 Current challenges
49:23 Performance review of Manta Pacific’s first three months on mainnet
52:09 Looking forward: upcoming features and milestones
…
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