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Short About: Manta Network

Manta is a set of simple and safe (open source and auditable code) protocols built on Substrate frameworks. It represents a decentralized privacy payment protocol, a decentralized privacy token exchange protocol, and a decentralized privacy loan & synthetic asset protocol. Manta’s founding team includes numerous cryptocurrency veterans, professors, and experts from Harvard, MIT, Algorand, and other institutes.

The project is in demand: more than 1 million USD was raised at an early stage of the launch. Prior to the project’s debut, it was stated that it is an add-on to the Polkadot network that does not use gas for transactions, but that the transfer speed will rise without affecting the network’s security.

How it works

The core concept of Manta is to mint private coins/tokens on the contract with stable currencies and other base tokens at a 1:1 minting value ratio. A decentralized private swap platform, on the other hand, can facilitate the exchange of these privacy tokens.

Manta uses zk-SNARK Protocol for privacy enhancement among current DeFi solutions. zk-SNARK may already be used to provide total end-to-end anonymity — the sender can verify the authenticity of the transaction to the prover without disclosing the transaction amount, address, or other parameters. It helps to protect both user and transaction anonymity.

The zk-SNARK Protocol supports the Decentralized Anonymous Payment (DAP) system. Users can exchange Polkadot and Parachain tokens for equivalent private tokens, pay using privacy tokens, and redeem base coins from private tokens.

The Automated Market Maker and zk-SNARK protocols serve as a basis for the Decentralized Anonymous Exchange (DAX) system. On the platform, users can trade private versions of tokens secretly with one another. The decentralized private token exchange protocol’s price generation approach is congruent with mainstream AMM. Manta tokens’ business strategy is based on the rebate and redemption of swap usage fees and transaction fees.

Dolphin Testnet

Manta Network has been working hard to build privacy for the whole Polkadot and Kusama ecosystem since its inception. A widespread misunderstanding is that Manta is distributing privacy tokens similar to ZCash or Monero. That is not correct. Instead, they are developing technology that would allow users to private any parachain assets, including DOT and KSM.

The Manta Signer is a local signer that is used for private transactions through Manta Network. It is intended to safeguard your transaction data while also creating the zero-knowledge proof as efficiently as possible using local code. The Manta Signer runs totally locally, which means it never communicates with any outside servers or devices: in other terms, zero-knowledge proof creation is possible even without an Internet connection. Furthermore, the signer’s code is open source and properly audited.

https://app.dolphin.manta.network/#/transact

The Dolphin Testnet is a testnet for launching new and experimental features and services to ensure they are safe to use on Manta Network (the Polkadot chain) or Calamari Network (the Kusama Chain). Those features are subsequently pushed to Calamari, and later make their way to Manta.

With the current state of Dolphin Testnet, users are able to test out private transacting of different testnet parachain assets. The fully-functional features of Dolphin testnet demonstrate the entire workflow of private transaction on Polkadot. All transactions are immutable on-chain, and privatized with zero-knowledge proofs. The final transaction results can be viewed on the Dolphin Testnet block explorer (link: https://dolphin.subscan.io/).

Tokenomics

MANTA is the first ever deflationary utility token, with redeem and token burning created by genuine privacy-preserving network usage and growth in Privacy DeFi.

Manta tokens are also required to stake and run the collator on the Manta Parachain Chain. There is no inflation timetable for MANTA, which has a fixed supply of 1,000,000,000.

Manta Links: [Website] [Telegram] [Twitter] [Github] [Discord]

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Ambassador of Polkadot and Bifrost networks, member of ZenlinkDAO Initial Governance Board

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