Binance introduces MANTA, its 44th project, signifying a calculated move in light of Manta Pacific’s rising TVL of over $800 million.
Binance, the top cryptocurrency exchange, has unveiled Manta (MANTA), a modular Layer 2 solution for Zero-Knowledge (ZK) applications, as its 44th project on Binance Launchpool.
However, Binance announced that users can farm MANTA tokens over two days by staking their BNB and FDUSD in distinct pools.
Concurrently, this clever move occurs as Manta Pacific, the proprietary Layer 2 modular blockchain developed by Manta Network, undergoes a significant upsurge in Total Value Locked (TVL).
The project’s incorporation has garnered significant attention within the cryptocurrency community, offering enthusiasts a novel chance to participate in the rapidly expanding decentralized finance (DeFi) ecosystem.
Binance Adds Manta To its Launchpool
Users can expect the listing of MANTA on January 18, 2024, with trading pairs including MANTA/TRY, MANTA/BTC, MANTA/USDT, MANTA/BNB, and MANTA/FDUSD, according to a recent announcement by Binance.
Concurrently, MANTA will undergo the application of the Seed Tag, which will guarantee a smooth integration into the Binance ecosystem.
According to the announcement, the MANTA Launchpool has a maximum supply of 1,000,000,000 MANTA tokens and is offering a reward of 30,000,000 MANTA, which represents 3% of the maximum token supply.
Furthermore, the project’s initial circulating supply of 251,000,000 MANTA, which represents 25.1% of the maximum token supply, is under Binance’s dedication to promoting pioneering decentralized solutions.
From January 16 to January 17, 2024, users may stake BNB and FDUSD independently, each with its own reward pool, during the farming period.
Significantly, users of Binance are urged to capitalize on this opportunity by taking advantage of the hourly rewards and the comprehensive functionalities of MANTA.
As Binance persists in expanding the horizons of DeFi, MANTA serves as evidence of the platform’s dedication to providing the cryptocurrency community with innovative prospects.
However, this introduction also underscores Binance’s commitment to providing intuitive experiences, enabling users to effortlessly transfer their accumulated rewards to their spot accounts, shift between available pools without interruption, and unstake their funds at any moment.
The announcement revealed that Locked Products and Binance BNB Vault will also support the Launchpool, ensuring that users staking their BNB have access to a comprehensive and inclusive experience.
Disclosure of Eligibility and Global Outreach Amid Rising TVL
It is crucial to acknowledge that eligibility for the MANTA Launchpool is determined by the user’s country or region of residence, despite the evident enthusiasm.
It is recommended that users consult the guidelines provided on the Launchpool page to guarantee adherence to jurisdictional regulations.
Residents of specific nations, such as Canada, the United States, and Japan, may not be eligible for participation at this time, according to the announcement.
In recent days, however, the soaring TVL of Manta Pacific has garnered considerable attention from crypto market enthusiasts in response to the listing news.
Notably, Manta Pacific, the native Layer 2 modular blockchain of Manta Network, witnessed a substantial increase in Total Value Locked (TVL), which, according to L2BEAT data, surpassed $800 million and reached $838 million.
The significant surge in value highlights the strong expansion of Manta Network, thereby reinforcing its position as a swiftly growing Layer 2 solution within the Ethereum ecosystem.
Concurrently, with Binance’s ongoing efforts to innovate and broaden its ecosystem, MANTA arises as a promising supplement, providing users with a flexible means to enter the perpetually changing realm of decentralized finance.
The crypto community anticipates MANTA’s transformative effect on Binance Launchpool and other platforms with great anticipation.
Meanwhile, the price of BNB increased by 4.74% to $318.07 at the time of writing, while its trading volume increased by 80 percent to $1.35 billion.
