Manta Network steps into the arena of Decentralized Finance (DeFi) with a unique proposition: providing a privacy-preserving and scalable DeFi ecosystem. Built on a modular blockchain architecture, Manta Network aims to address two critical shortcomings of current DeFi protocols – anonymity and transaction speed.
Manta Network comprises two key components: Manta Pacific and Manta Atlantic. Manta Pacific is an innovative Layer 2 solution built on Ethereum, specifically designed for deploying privacy-focused DeFi applications. It leverages zk-SNARKs, a form of zero-knowledge proofs, to shield transaction details while ensuring their validity. This allows users to conduct DeFi transactions confidentially, without revealing their asset holdings or trading activities.
Manta Atlantic, on the other hand, is a standalone Layer 1 blockchain built using Substrate, the framework powering Polkadot. This chain boasts the distinction of being the fastest zero-knowledge (ZK) Layer 1 chain on the Polkadot ecosystem. Manta Atlantic focuses on privacy-preserving identity management through the use of zk-STARK proofs. These zk-STARK proofs enable users to create programmable identities and credentials (zk-SBTs) without compromising their sensitive information.
The combination of Manta Pacific and Manta Atlantic empowers developers to create a new generation of privacy-centric DeFi applications. Imagine borrowing and lending platforms where your loan history remains confidential, or decentralized exchanges where your trading activity is shielded from prying eyes. Manta Network paves the way for such possibilities.
Beyond its core functionalities, Manta Network fosters a thriving developer ecosystem. Their user-friendly Software Development Kit (SDK) simplifies the integration of privacy-preserving features into existing DeFi applications. Additionally, Manta offers its own native token, MANTA, which serves as the backbone of the network. Users can employ MANTA for governance purposes, staking rewards, and transaction fees within the Manta ecosystem.