Manta Pacific Overtakes Coinbase’s Base as Fourth Largest Scaling Solution

Manta Pacific serves as the native Layer 2 solution for the Manta Network.

Manta Pacific takes over as the fourth largest scaling solution, according to L2Beat.

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In an exciting turn of events, Manta Pacific, the native layer 2 of Manta Network, has dethroned Coinbase’s Base as the fourth largest scaling solution. According to the trusty data source L2Beat, the total value locked (TVL) on Manta Pacific has surged to an impressive $845 million, leaving Base in its wake at $753 million. 📈🔒

But what does this all mean? And why should you care? Let’s break it down and dive into the world of layer 2 solutions, DeFi protocols, and the rise of Manta Pacific. 🤓📚

Layer 2s and the Quest for Efficiency

Before we delve into the rise of Manta Pacific, let’s understand what layer 2s are all about. Layer 2s are secondary blockchains that are built on top of the primary or native blockchain. Their purpose? To reduce bottlenecks and improve speed. It’s like having a superhighway parallel to the main road to ensure smoother traffic flow. 🚗💨

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One key player in this layer 2 game is Manta Pacific. Last year, it bravely embraced the zero-knowledge rollup approach, which involves relying on zero-knowledge proofs. 🕵️‍♂️🔒Zero-knowledge proofs are a type of cryptography that have been making waves in the blockchain world due to their ability to provide fast “finality” or settlement of transactions. Manta Pacific recognized the potential of this cutting-edge technology and decided to ride the wave. 🌊🏄‍♂️

Manta Pacific’s Triumph and Total Value Locked

With its innovative zero-knowledge rollup in place, Manta Pacific has shown remarkable growth. Currently, it sits proudly at the fourth spot in the scaling solution hierarchy according to L2Beat’s TVL measurement. Total value locked refers to the notional value of tokens deposited in a decentralized finance protocol. And trust us, it’s a crucial metric to gauge the popularity of DeFi protocols. 📊💰

But wait, there’s more! DeFiLlama, another prominent source in the DeFi space, acknowledges the fierce competition between Manta Pacific and Base, who are both vying for the ninth spot with a TVL of around $420 million each. It seems like a DeFi showdown is in the works! 🔥🤝

Manta Pacific’s Paradigm Bridging Program and Stellar Growth

What has propelled Manta Pacific’s rapid ascent in TVL? Well, it’s all thanks to their paradigm bridging program, which went live in December. This program allows users to bridge assets from one blockchain to another, fueling the growth of Manta Pacific’s TVL. It’s like building bridges between different islands to create new opportunities for travel and exploration. 🌉🏝️

In this case, Manta Pacific is bridging assets like ether (ETH) and USDC to its network, attracting users with staking yields of 4% to 5%. But here’s the catch: The staked coins remain locked for a specific period of time, and depositors become eligible for future airdrops of MANTA tokens. It’s like earning interest on your savings account while also being rewarded with surprise gifts! 🎁💸

Not only that, depositors are also treated to NFT box pieces and the possibility to re-stake their ETH on Eigen Layer. Talk about keeping things exciting! Manta Pacific is taking a page out of Ethereum layer 2 Blast’s playbook by offering yield on bridged assets. Blast even rewards users for referrals with tokens that can be redeemed in future token airdrops. It’s like a treasure hunt where everyone wins! 🏴‍☠️💎

Bright Horizons for Manta Pacific

Manta Pacific’s journey to success doesn’t end there. Just recently, Binance, one of the biggest players in the crypto exchange world, announced Manta as the 44th project on its Binance Launchpool. This means that users can now stake their BNB and FDUSD tokens to earn MANTA tokens. And if that wasn’t enough, Binance will also list a range of Manta trading pairs on January 18th. The Manta ecosystem keeps on growing! 🌐📈

Q&A: Answering Your Burning Questions

Now that we’ve covered the basics, let’s tackle some burning questions you might have:

Q: What is Manta Pacific’s advantage over other layer 2 solutions? A: Manta Pacific’s zero-knowledge rollup approach sets it apart from the competition. This cutting-edge technology allows for fast transaction settlements and improved scalability. Think of it as having a lightning-fast express lane for your blockchain transactions. ⚡🛣️

Q: How can I start bridging assets on Manta Pacific? A: To bridge your assets, you can join Manta Pacific’s paradigm bridging program. This program rewards users with attractive staking yields, future airdrops, and even NFT box pieces. It’s like embarking on a thrilling adventure with rewards waiting at every turn. 🌟🎮

Q: Is Manta Pacific a safe and reliable platform for staking and DeFi activities? A: Manta Pacific has gained significant traction and has been audited by reputable firms, ensuring that the platform is secure and reliable. However, as with any investment or DeFi activity, it’s crucial to conduct your own research and make informed decisions. Safety first, my friends! 🔒💡

Looking Ahead: What Does the Future Hold?

As we look towards the future, Manta Pacific’s success story seems poised to continue. With its innovative zero-knowledge rollup technology, attractive staking yields, and a growing list of strategic partnerships, Manta Pacific is well-positioned to become a major player in the world of layer 2 solutions and DeFi protocols. 🌠🤝

Investors and blockchain enthusiasts alike should keep a close eye on Manta Pacific. Its rising TVL and expanding ecosystem indicate a promising path ahead. So buckle up and get ready for the thrilling ride! 🚀🌌

References:

• Manta’s Layer-2 Blockchain Already Plans to Ditch OP Stack for Polygon
• Blast Hits $11B Deposits in a Month Due to Go-Live
• Vitalik Buterin Wants to Make Ethereum Cypherpunk Again
• Zero-Knowledge Proofs: The Hottest Blockchain Trend of 2023
• Binance Says It’s Truly Compliance-Led in Positive Year-End Report

👉 Don’t forget to share this article with your friends and colleagues in the blockchain and DeFi community. Let them join the Manta Pacific revolution!

Disclaimer: The information provided in this article is for educational and informational purposes only. The author does not provide investment advice or endorse any specific project or platform. Always do your own research and consult with a professional financial advisor before making any investment decisions.

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