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Manta Network, also known as Manta, is a privacy protocol for decentralized finance (DeFi) and also acts as a privacy hub for Web3.It is built on Substrate and uses Polkadot's cross-consensus messaging (XCM) mechanism. According to the company's whitepaper, Manta Network is being developed to consist of a multi-asset decentralized anonymous payment scheme and an automated market maker (AMM) based decentralized anonymous exchange scheme.
The Manta Network is being built for on-chain privacy for Web3, DeFi, non-fungible tokens, gamefis, and other emerging blockchain technologies. It is intended to enable privacy for any parachain asset existing in the Polkadot and Kusama ecosystem. Manta's use of zero-knowledge proofs (ZKPs) allows the aforementioned cryptocurrency assets to be privatized.
One of the features of Manta is its interoperability, which is due to the utilization of Polkadot's cross-consensus mechanism, which allows Manta to communicate with other layer-1 decentralized networks that are within the Polkadot ecosystem. Updates and features are often released on Manta's canary network, Calamari, which exists on the Kusama network.
MantaPay is a private payment system on the blockchain that is still in development. It is intended to be launched on the Calamari network for private parachain transactions. It can be used with a compatible Polkadot wallet and supports ERC20 tokens.
The team behind Manta has developed the Dolphin testnet, which allows users to test and experiment with protocols before they go live on the Calamari and Manta networks. It can be used by connecting to the Polkadot.js wallet, and its most recent version is incentivized, which qualifies users for an airdrop.
The network's governance token is called $MANTA, and its initial coin offering (ICO) took place in November 2021. The ICO was on Tokensoft, with 80,000,000 of the 1,000,000,000 tokens available to the public. Holders of the token can propose improvements for the network, vote on proposals related to the network, and express opinions related to the progress and direction of the Manta protocol.
