Modular public chains are becoming a market trend, take a look at the value ecosystem projects of the Manta network.

What exactly is Manta Network doing? What are some potential ecological projects worth paying attention to on its chain?

Author: Climber, Golden Finance

With Celestia (TIA) going online on Binance and starting a 10x increase, the discussion about modular blockchain concepts is heating up, and a large number of modular projects are once again appearing in the sight of investors, such as Fuel, Eclipse, Caldera, dYmension, and Omni Network. Multiple CEXs, including Binance, have also successively launched projects in the same field, such as Manta Network and AltLayer.

Among them, Manta Network has performed well. Not only has Manta Pacific TVL surged past $1.6 billion, but its project token MANTA has also resiliently surged past $3 despite the market downturn. In addition, in January alone, Manta Network received investments from two institutional investors, Newman Capital and ArkStream Capital.

So, what exactly is Manta Network doing? What are some potential ecological projects worth paying attention to on its chain?

I. What is Manta Network?

Manta Network was founded in 2020 and is developed specifically for zero-knowledge (ZK) application development. It is a pioneering modular blockchain with a dual-layer structure, namely MantaPacific and Manta Atlantic.

Manta Pacific is located on Ethereum and is used for second-layer solutions; Manta Atlantic is located on Polkadot and is used for first-layer solutions. It excels in ZK application development, utilizing technologies such as Celestia to improve data availability and zkEVM to improve scalability.

Manta Pacific is an L2 ecosystem on Ethereum, optimized for EVM-native ZK applications. It provides a scalable and cost-effective environment for deploying ZK applications (primarily using Solidity).

Manta Pacific is a platform for EVM-equivalent ZK applications, which can be extended and secured through Celestia DA and Polygon zkEVM. Manta Pacific solves data availability issues through modular infrastructure design, allowing modular DAs and zkEVM to seamlessly integrate without compromising user experience as time passes and information increases.

Meanwhile, Manta Atlantic operates as a fast ZK Layer 1 (L1) chain on Polkadot, focusing on programmable identity and credentials.

This layer is centered around ZK-compliant credentials and introduces zkSBTs (zero-knowledge soul-bound tokens), achieving a private, reusable, and auditable address system called zkAddresses. A notable feature of Manta Atlantic is its interoperability, allowing seamless interaction with other projects without complex encryption processes. This layer supports various applications, including zkNFT, monitoring, and various ecosystem projects.

In summary, users can build and deploy any Solidity-based decentralized applications on Manta and leverage its technology stack to provide faster transaction speeds than L1 and lower gas costs than L2.

Manta Network was founded in 2020 by Victor Ji, Shumo Chu, and Kenny Li. Its expert team comes from renowned institutions such as Harvard University, Massachusetts Institute of Technology, and Algorand, and it has received substantial investments from leading entities in the Web3 field, including Binance Labs and Polychain Capital.

In 2023, Manta Network went live on the mainnet; in July 2023, it completed a $25 million Series A financing, with a valuation of $5 billion; in February 2022, it completed a strategic financing round, with the amount undisclosed; in October 2021, it completed a $5.5 million financing round; in February 2021, it completed a $1.1 million financing round. The total amount of financing exceeds $31.6 million.

As of the writing, according to L2beat data, Manta Pacific TVL is $1.63 billion, accounting for 7.96% of the Ethereum Layer 2 market, ranking third, only behind Arbitrum and OP Mainnet.

In addition, according to the Manta Network official website, the total transaction volume on the network is 13.71 million, with 196 projects in the ecosystem.

II. Value Ecological Projects

1. DeFi

Manta DEX: A native DEX on the Manta network, providing low fees, fast, and user-friendly features.
Aperture Finance: A native Manta project, a multi-chain structured product that provides users with complex yield strategies.
Alchemy Pay: A payment solution provider that connects fiat and crypto economies for global consumers, merchants, developers, and institutions.
ZKEX: A decentralized multi-chain order book exchange (DEX) for buying and selling cryptocurrencies from multiple blockchains. ZKEX is decentralized, trust-minimized, and non-custodial, with transactions secured by zero-knowledge proofs.
zkLink: A transaction-centric multi-chain L2 network with unified liquidity protected by ZK-Rollups. dApps built on the zkLink L2 network utilize seamless multi-chain liquidity, providing fast deployment solutions for decentralized and non-custodial order book, AMM, derivatives, and NFT exchanges.
Bifrost: A decentralized derivatives protocol that provides cross-chain liquidity for staked assets. By utilizing Cross-Consensus Messages (XCM), it can provide cross-chain liquidity staking services for multiple chains. Bifrost's mission is to provide standardized cross-chain interest-bearing derivatives for Polkadot relay chains, parachains, and heterogeneous chains bridged with Polkadot.
Shoebill Finance: An LST collateralized lending protocol on Wemix, Klaytn, and Manta Pacific networks. Investors borrow assets deposited in Shoebill to maximize their investment scale and pay interest. The protocol aims to maximize user returns by establishing and expanding a cycle structure of mutual support between investors and depositors.
Jumbo Shrimps: On-chain native decentralized financial collateralization project.
iZUMi Finance: A multi-chain DeFi protocol that provides a one-stop liquidity-as-a-service (LaaS). iZUMi has launched three on-chain liquidity products: LiquidBox, iZiSwap, and iUSD. LiquidBox uses Uniswap V3 to provide programmable liquidity-as-a-service (LaaS).
LayerBank: A loan protocol designed to serve as a liquidity hub for all EVM aggregations, providing a universal, permissionless banking solution in the OmniChain ecosystem.
PacificSwap: PacifiSwap is a DEX protocol based on the ve(3,3) model, developed based on the Pancake Swap model, and uses the innovative CLAMM algorithm.

2. Infrastructure

Caldera: Focuses on building high-performance, customizable, and application-specific second-layer blockchains. These customized blockchains (Caldera Chains) provide high throughput, low latency, and customizable features to optimize the performance and user experience of decentralized applications, capable of processing hundreds of transactions per second and confirming within milliseconds. Caldera enables anyone to launch and operate dedicated, high-performance second-layer blockchains, known as "Rollups."
Dmail Network: A blockchain-based next-generation email system that integrates messaging, asset management, and data storage functionalities into a comprehensive platform.
Virtual Labs: Providing next-generation blockchain infrastructure to overcome the limitations of blockchain computation. It utilizes a ZK state channel called "Virtual Rollups" to provide dApps with the ability to achieve zero gas, instant, and seamless transactions on any chain.
Phala Network: An interoperable cross-chain confidential smart contract platform based on Substrate, aiming to provide privacy computing and data confidentiality services to all users and companies.
DappOS: An intent-centric operating protocol designed to make dApps as user-friendly as mobile applications. As a Web3 unified operating protocol, it builds a layer between users and public chains, cross-chain bridges, and other crypto infrastructures, allowing users to interact with dappOS to complete verification and execution in the decentralized world.
RedStone: A cross-chain data oracle technology that provides fast and cost-effective data access, complete historical audit trails, and insurance-backed decentralized dispute mechanisms, offering users recourse in case of inaccurate data. The Arweave blockchain project is used to store data and track reputation.
DeversiFi: A decentralized Layer2 trading protocol where users can trade, send, and invest on a user-friendly platform without paying Ethereum network fees. DeversiFi aims to become a multi-chain DeFi hub and was initially incubated by Bitfinex.
POMP: On-chain native private asset validator.

3. Social

AsMatch: An online dating application based on zero-knowledge proof (ZK), allowing users to match or unmatch other users by swiping left or right. Users can also input the ZK Proof Key of zkSBT into the app to verify on-chain behavior and identity, belonging to the Social category within Manta.
DappBack: A Web3 platform for community growth and loyalty, where users can earn money by completing project and community task journeys.
Instap: A new creative social app that allows users to quickly add friends by using the touch feature on their phones. Users can customize their settings and choose to share multiple or single social apps, even if the other party does not have the Instap app installed, they can easily access your profile through other apps.
Gosleep: A Web3 lifestyle application focused on HealthFi. Game token rewards are determined based on the rarity and attributes of NFTs owned by players and their sleep scores.

4. Digital Identity

Aspecta: An AI-driven digital identity ecosystem that has built Aspecta ID for pioneers and others to showcase, connect, and explore. By linking accounts in the Web2 and Web3 spaces, such as GitHub, Twitter, and wallet addresses, Aspecta ID includes AI-generated web pages, soul-bound tokens, and metaverse avatars.
Carv: A platform aimed at establishing a user-owned gaming identity, enabling achievement showcases, friend and game discovery, and direct monetization.
Cred Protocol: A decentralized credit scoring protocol that makes it easier for users to access decentralized finance. Anyone with internet access and a good financial reputation can obtain a loan. By using machine learning to assess time-based account attributes and analyze users' past transaction behavior, Cred Protocol generates a health factor score, predicting the likelihood of individual address liquidation in the future.
FirstBatch: A Web3 identity generator that provides data-driven proofs instead of statement-based proofs, bringing ZKIdentity scalability to identity protocols, middleware, dapps, and the metaverse. DApps, DAOs, socials, and protocols use FirstBatch to interact with user interest data, create segments, and measure social relationships while protecting privacy.
KaratDAO: A native encrypted engine for Web3, providing a bilateral service data market to help users control their web2 and web3 data while earning rewards. With its decentralized data identity protocol Karat Network, users can own, control, and manage their data while enjoying the benefits of a permissionless and secure data trading platform.

5. GameFi

Cradles: A prehistoric virtual world game that provides players with a living, breathing virtual world that continues to evolve and progress, simulating time and physical laws just like in real life. Cradles is also a subscription-based blockchain game, requiring players to purchase a monthly subscription card to enter the game.
Bingo0x: An on-chain prediction game platform.
GaFin: A Web3 game platform utilizing Zk-rollup technology, aiming to create a blockchain game platform where players can gather together through AI-assisted tournament construction and automation, fostering a community of players.
Getaverse: A blockchain credit system developed and deployed on multiple public chains, aiming to build a metaverse ecosystem service platform based on the Web3 digital authentication engine protocol. Getaverse works by providing a gateway into the WEB3 world on a decentralized identity system and offers additional support and rewards to all participants maintaining this gateway while protecting privacy.
Meta Merge: A metaverse combining AIGC, NFT, DeFi, and Gaming. Users will have the opportunity to become legends in the arena through intense PvP and PvE battles. By capturing, collecting, and merging monsters, they can create more powerful and unique creatures.

In summary, since the Paris Modular Summit held in late July last year, research and discussions around modular projects have not ceased. Many believe it will be the next hot trend, but it is worth noting that the modular narrative is diverse and more complex in design, posing significant challenges for network technology and security. Additionally, the already diverse second-layer solutions are once again diverging, meaning platform investors are spreading their funds across more baskets.

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