- Manta Network stands out with an impressive valuation of $500 million following a successful $25 million Series A funding round led by leading investors in the world of cryptocurrencies.
- Its pioneering approach to privacy and zero-knowledge technology allows users to transact anonymously on DeFi services, gaining increasing adoption in the web3 ecosystem.
- Manta Network ensures the security and management of unique digital assets with its “soulbound” tokens, while its native wallet and ecosystem projects are consolidated with more than 1.5 million users in total.
Manta Network, led by P0x Labs, stands out with an impressive $500 million valuation following a successful $25 million Series A funding round.
Its revolutionary zero-knowledge technology and focus on privacy are taking the world of decentralized finance (DeFi) by storm.
Manta Network and its valuation
The rise of cryptocurrencies and blockchain technology has spawned numerous companies in the web3 ecosystem, though few have managed to achieve significant valuations in these uncertain times.
However, P0x Labs, the team behind the Manta Network, has achieved a historic $500 million valuation thanks to its pioneering focus on privacy and emerging zero-knowledge technology.
Prominent investors and financial backing. The recent $25 million Series A funding round has been led by prominent investors such as Polychain Capital and Qiming Venture Partners, along with support from Alliance, CoinFund, SevenX Ventures and Binance Labs. These companies recognize the potential of Manta Network and their commitment to by zero knowledge technology.
The technology behind Manta Network
What makes the Manta Network so attractive to investors is its commitment to zero-knowledge technology, which allows users to anonymously transact on DeFi services without exposing their personal or transaction details on the blockchain.
The heart of this technology is the zero-knowledge proof (ZKP), which makes it possible to prove the truth of a statement without revealing additional information.
Manta Network has found the formula to combine transparency and privacy in decentralized finance, which has led to increasing adoption of its network.
“Soulbound” tokens and security in the management of digital assets. The key to Manta Network’s success lies in its zero-knowledge “Soulbound” tokens, which ensure a high level of security and management of unique digital assets such as identity and ownership verification.
Native wallet and ecosystem adoption
Manta Network’s native wallet, Manta Wallet, has managed to rack up over 200,000 installs.
In addition, its ReadOn, Dmail, and AsMatch ecosystem projects, with more than 1.5 million users in total, have adopted zkSBT (soul zero-knowledge token) functionality to provide users with private identity and other privacy features.
Confidence in growth potential. Although some critics point out that the user numbers are still modest compared to the most popular web2 applications, venture capitalists remain optimistic and are betting on blockchain and web3 technology. Yi Tang, director of Qiming Venture Partners, clearly expressed his confidence in Manta Network’s growth potential.
Expansion and future of Manta Network. Proceeds from the recent round of funding will be used to scale Manta Pacific’s testnet, Manta’s Layer 2 for ZK applications, enabling increased blockchain transaction processing capacity and expansion into key markets of Asia.