Currently, there are 3 opportunities on Manta (ETH L2 with Celestia DA)

1. 🪂 Airdrop: Deposit ETH, farm NFTs to get $MANTA airdrop

2. 💰 RFV: ETH trading at 10% discount in Manta because of 70-day lock when bridging

3. 🏞️ NFT: airdrop NFTs possibly at a discount

How it works:

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Opportunity #1: Airdrop MANTA 🪂

How it works: you bridge ETH or USDC from Ethereum to Manta. When you deposit ETH, they give you $STONE at a ~1-1 rate, and when you deposit USDC, they give you wUSDM at a ~1-1 rate too.

🔗 Here's a permanent link to bridge (code required → QWN3S): https://t.co/t1znmxwwgN

After you bridge, you will start getting boxes, and those boxes get you NFTs. They are trading live in Element Market.

NFTs will be redeemable for $MANTA.

You have two choices: hold the NFTs (to get MANTA) or sell them straight away for instant ETH.

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Opportunity #2: RFV💰

$STONE is liquid in Manta, which means that you can do stuff in Manta DeFi (like lend it on LayerBank).

This is unlike Blast, where you deposit and you get no liquidity back.

Since ETH/USDC deposits will be locked in Manta for 2 months starting Jan 1st, this means you cannot bridge $STONE or $wUSDM out yet.

As a consequence of this, people who want to leave the chain have been dumping $STONE in Manta, causing a 10% price depeg relative to ETH. Same with wUSDM.

This means that arbitrageurs can buy $STONE at 10% discount in ApertureSwao for example, wait 2 months, and then redeem for ETH 1-1 for 10% profit in 2 months when Manta opens up withdrawals. The risks are the ones that you imagine.

Example: if you have ETH and are thinking about what to do here, ask yourself if you think the airdrop will give you more than 10% in 2 months, if the answer is no, then perhaps is more profitable spot-buying $STONE

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Opportunity #3: NFTs 🏞️

Airdrop farmers are getting NFTs, which can be held for $MANTA redemptions or can be sold in Element Market.

There's a question of - are these NFTs underpriced relative to how much MANTA they will get?

It comes down to the estimated NFT supply and estimated FDV for Manta.

Won't go into much detail here. The estimation you need to do is MANTA per NFT, then consider NFT potential supply (with assets bridged => farming time) and Manta FDV scenarios. If you find that any NFTs are underpriced related to the model scenarios, then that's the speculative opportunity.

30,000,000 $MANTA will be distributed to the 6 NFT categories based on rarity. 20,000,000 additional MANTA (total 50M) will be distributed in other ways: https://t.co/1D5rWHIOAs

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In case you missed it, @MantaNetwork will be a Modular Etherem L2 leveraging Celestia's Data Availability technology.

They announced a campaign to pre-farm $MANTA via airdrop, very much like Blast (Blast is no more than a multisig, presently).

Some big whales have been depositing assets, and there's a split between EigenLayer (1B TVL), Blast (1B TVL), and Manta (456M TVL).

Manta has received 60M in funding according to their socials, from investors such as Binance Labs and Polychain Capital. DYOR!

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Hope this research helped, it helps me a lot if you interact with the tweet in any way (like or comment) 👇

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