Interoperability on Manta Network and Moonbeam — Successful XCM Deployment on Testnet
March 31st, 2022 — Manta Network, the privacy hub for web3, has announced the successful cross-chain transfer of parachain assets with Moonbeam’s testnet, Moonbase Alpha. With these XCM tests successful, Manta Network and Moonbeam will be working towards integrating across their respective Kusama canary networks, Calamari and Moonriver.
“We’re excited to be working with the Moonbeam team as our first integration in launching XCM to mainnet,” said Shumo Chu, Cofounder of Manta Network. “By bridging assets from their Ethereum-compatible network, we are enabling cross-chain privacy for a variety of different crypto assets at once.”
XCM will allow the existence of Moonriver’s XC-20 assets as well as its native asset, $MOVR, on Calamari, which enables privacy transfers of those tokens. Calamari’s native token, $KMA, will also exist on Moonriver as an XC-20 asset to access additional functionality through various projects launched on Moonriver.
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. Like Moonriver, its sister parachain on Kusama, Moonbeam is expected to accumulate developer and user activity from the 80+ projects building DApps and protocols on the network. By working together, Manta and Calamari bring privacy to the projects building on top of Moonbeam and Moonriver, respectively.
On testnet, Manta Network and Moonbeam successfully transacted with specific scenarios:
- Sending Moonbase Alpha Testnet tokens ($DEV) to Dolphin and back;
- Sending Dolphin Testnet tokens ($DOL) to Moonbase Alpha and back;
- Sending Moonbase Alpha’s relay asset to Dolphin and back;
- Sending Moonbase Alpha’s relay asset from Dolphin to Moonbase and back;
As a next step, Calamari will be integrating XCM with Moonriver to bridge assets across both parachains in production environments. Calamari Network’s parachain asset ($KMA) will be represented as an XC-20 asset within Moonriver, which will allow $KMA to interact within the Moonriver ecosystem, accessing various DeFi products for staking, lending and other use cases. Native asset transfers from Moonriver to Calamari Network can be privatized and transferred in a shielded manner from peer to peer.
Following the launch of the XCM integration between Calamari and Moonriver, Calamari will deploy MariPay. With MariPay and XCM enabled, users will be able to privatize Moonriver assets for transfer within Calamari Network.
About Manta Network
Manta Network is committed to building a better Web3 world through privacy protection. Manta’s product design starts from first principles and provides end-to-end privacy protection for blockchain users through leading cryptography architectures such as zkSNARK. While ensuring privacy, Manta offers interoperability, convenience, high performance, and auditability, allowing users to conduct private transfers and transactions between any parallel chain of assets. Manta’s vision is to provide more convenient privacy protection services for the entire blockchain world.
Manta’s founding team is made up of several cryptocurrency veterans, professors and academics with experience from Harvard University, MIT and Algorand. Manta’s advisors include Hypersphere Ventures co-founder Jack Platts, Polychain partner Luke Pearson, former Web3 Foundation co-founder Ashley Tyson, Consensys’ Shuyao Kong.
Manta’s investors include Polychain, ParaFi, Binance Labs, Multicoin, CoinFund, Alameda, DeFiance and Hypersphere. Manta is also an official Web3 Foundation grant recipient, a member of Substrate Builder Program, and a member of Berkeley Blockchain Accelerator.