The top cryptocurrency exchange, Binance, has released Manta (MANTA), a modular Layer 2 solution for Zero-Knowledge (ZK) applications, as its 44th project on Binance Launchpool. In the meanwhile, Binance announced that users can farm MANTA tokens over the course of two days by staking their BNB and FDUSD in different pools.

This calculated action is taken as Total Value Locked (TVL) on Manta Pacific, the company’s own Layer 2 modular blockchain, has significantly increased. The project’s inclusion has acquired significant support in the cryptocurrency space, offering aficionados a cutting-edge chance to participate in the developing decentralized finance (DeFi) ecosystem.

Manta Is Added to Binance’s Launchpool
The recent news of Binance stated that the users can anticipate the listing of MANTA on January 18, 2024, with trading pairs including MANTA/BTC, MANTA/USDT, MANTA/BNB, MANTA/FDUSD, and MANTA/TRY. In the meantime, MANTA will receive the Seed Tag, guaranteeing a smooth assimilation into the Binance network.

As stated in the announcement, the MANTA Launchpool offers a reward of 30,000,000 MANTA, or 3% of the maximum token supply. It also claims to have a maximum token supply of 1,000,000,000 MANTA. Furthermore, with 251,000,000 MANTA in circulation at launch — that is, 25.1% of the total token supply — the project is in line with Binance’s mission to promote creative decentralized solutions. During the farming phase from January 16 to 17, users can independently stake FDUSD and BNB, each with its own reward pool.

Specifically, users of Binance are urged to take advantage of this chance, making use of the hourly rewards, and profit from the strong features of MANTA. As Binance continues to push the frontiers of DeFi, MANTA serves as a testament to the platform’s commitment to equipping the cryptocurrency community with cutting-edge options.

However, by enabling users to effortlessly move between various pools, unstake their money at any moment, and get rewards straight into their spot accounts, this rollout also highlights Binance’s commitment to user-friendly services. The release stated that Binance BNB Vault and Locked Products will support the Launchpool as well, guaranteeing a thorough and inclusive experience for users staking their BNB.

Revealing Eligibility & International Reach During Record TVL

Though there is a lot of excitement, it’s vital to remember that eligibility for participation in the MANTA Launchpool depends on the user’s nation or region of residency. It is recommended that users consult the Launchpool page instructions to make sure they are adhering to jurisdictional laws. According to the release, citizens of a few nations, including the US, Japan, and Canada, might not be able to participate at this time.

Nonetheless, the announcement of the listing has been well received by fans of the cryptocurrency market, especially in light of Manta Pacific’s recent surge in TVL. Interestingly, L2BEAT data shows that Manta Pacific, the native Layer 2 modular blockchain of Manta Network, saw a notable increase in Total Value Locked (TVL), surpassing $800 million and reaching $838 million.

This significant rise highlights Manta Network’s strong development and confirms its position as one of the Ethereum ecosystem’s fastest-growing Layer 2 solutions. In addition, MANTA shows promise as Binance develops and grows its ecosystem further, providing users with a flexible gateway into the dynamic realm of decentralized finance. The crypto community eagerly awaits the disruptive impact of MANTA on Binance Launchpool and beyond.

SOURCE:

https://medium.com/@therealcryptojk/manta-pacifics-tvl-exceeds-800m-binance-launches-manta-network-18bd880b4365