Summary
Manta Network’s token, MANTA, has seen a 51% increase in the past week, making it the top gainer among the 100 most valuable digital assets. MANTA is the governance token of Manta Network, which consists of two separate networks: Manta Pacific, an Ethereum Layer 2, and Manta Atlantic, a Layer 1 chain built on Polkadot. Manta Pacific is currently the third-largest Layer 2 network by total value locked, with over $1.7 billion locked. However, it has seen a decrease in externally bridged total value locked since the token’s airdrop. Manta recently integrated with Moonbeam for interoperability with the Polkadot ecosystem and plans to migrate Manta Pacific to a Polygon-based zkEVM solution.
Key Points
1. Manta Pacific is currently the third-largest Ethereum Layer 2 network by total value locked, with over $1.7 billion in total value locked (TVL).
2. MANTA, the governance token of Manta Network, has seen a 51% increase in the past week, making it the top gainer among the 100 most valuable digital assets.
3. The network is facing challenges with externally bridged TVL dropping by $55 million since the airdrop and processing just 1.5 transactions per second (TPS), significantly lower than leading Layer 2 networks like Arbitrum and Optimism.