Summary
Early adopters of Manta Network, Ethereum’s third-largest Layer 2 network, are disappointed with the small allocations of MANTA tokens they received in an airdrop. Manta allocated 30 million tokens, or 3% of the total supply, for the airdrop, but users are reporting receiving only a small number of tokens. The airdrop was based on a points system tied to tasks completed on Manta’s Layer 2 network. Manta Network is composed of two networks, Manta Pacific and Manta Atlantic, and aims to be a multi-modular ecosystem for zero-knowledge applications. Despite its high total value locked (TVL), Manta Pacific has lower activity compared to other Layer 2 networks. MANTA tokens will be used for governance and provide benefits to holders on Manta Pacific. Another 2% of the token supply will be airdropped to users and contributors.
Key Points
1. Early adopters of Manta Network’s Layer 2 network received a small allocation of MANTA tokens in the highly anticipated airdrop.
2. The MANTA token is currently trading at $2.12 with a fully diluted valuation of $2.1B, ranking 117th by market capitalization.
3. Many users are disappointed with the airdrop, expressing their dissatisfaction with the small number of tokens received and difficulties in bridging assets back from Manta’s L2.