Manta Network Exchange List Price Prediction (MANTA)

The Layer 2 Wars is hotter than ever after Arbitrum and Optimism continued to grow strongly near the Dencun Upgrade, the next name that the community is interested in is Manta Network when the project will TGE on December 18. January 2024. In this article Weakhand will give everyone a prediction of the floor list price of Manta Network so they can sell tokens from airdrop, IDO or Binance Launchpool at the best price.

Overview of Manta Network

Manta Network is a Layer 2 using zk-Rollup technology from Polygon’s CDK built on the Ethereum network. Previously, Manta had the goal of building a Layer 1 and connecting to all Parachains through Polkadot, but by early 2023, the development team had shifted to building Manta as a Layer 2.

In the top 10 projects that won the Parachain auction on the Polkadot ecosystem, Manta Network excelled in the top 7 position with 4M DOT locked, this amount was worth about $34M at the time of the auction. go out. However, after changing the development direction, Manta returned all the locked DOT to its community.

Factors Affecting the Price of MANTA

Tokenomics

It can be seen that the majority of tokens issued in the initial total supply of MANTA will be in the hands of the community, however, a portion of 25M tokens will still be unlocked and paid to project advisors. However, because it has gone through many different capital raising and airdrop campaigns, the initial number of tokens in circulation of MANTA is quite large, accounting for 25.1% of the total supply.

In addition, another noteworthy point is that 2% of MANTA’s total supply, equivalent to 20M tokens, will be minted each year to reward the parties involved in operating the network. This quantity will not affect MANTA’s price too much at the TGE stage, however it will have an impact on long-term housing prices.

Another feature of Manta Network that other Layer 2s do not have is that the MANTA token will be used simultaneously on two different networks:

• Manta Pacific (Layer 2): The main purpose will be to participate in network administration and operation.
• Manta Atlantic (Layer 1): Used as Gas fee in addition to participating in network administration and operation.

Backer

Manta has gone through a total of 5 different rounds of capital calling from both the community and large investment funds with an amount of 60.4M, specifically as follows:

• Seed Round: Raised $1.1M on February 2, 2021 from Multicoin Capital, Polychain Capital, DeFiance Capital,…
• Funding Round: Raised $5.5M on October 19, 2021 from Spartan Group, ParaFi Capital, CMS Holdings,…
• ICO: Raised $28.8M on 11/13/2021 at 360M valuation from the community.
• Strategic Round: Raised an unspecified amount from Binance Labs on February 17, 2022.
• Series Round: Raised $25M on July 19, 2023 from Polygonchain Capital, CoinFund,…

In addition to the fact that Manta Network is backed by a Backer group including many of the market’s leading investment funds such as Binance Labs, Pantera Capital, Polychain Capital,… this platform also calls for a huge amount of money from the community. It also proves that the impact of the project is not small.

Manta ecosystem

Although the pieces of the puzzle are basically not yet fully completed, Manta Pacific at the present time surpasses other giants such as zkSync or Base to stand in the top 4 Layer 2 with locked value on the chain. biggest.

MANTA Floor List Price Prediction

Compare with other Layer 2s

The comparison with the two giants Layer 2 Arbitrum and Optimism is probably quite lame when we consider all factors, Manta Network is far behind, so one thing is quite certain that MANTA’s price will be difficult to touch. levels on par with ARB or OP.

However, compared to Metis, Manta Network has many similarities with Layer 2 when the TVL level of these two ecosystems is less different. The total circulating supply of MANTA at the initial time will also be less than the current total supply of METIS, so the price of MANTA may be higher than the level in the table above.

Compare with other Parachains on Polkadot

To compare Manta Network’s FOMO with Acala or Moonbeam is probably quite lame when at that time the keyword “Parachain auction” was hotter than ever, so if we consider only MANTA’s ATH price is equal to ATH of ACA or GLMR would be quite difficult for a project in the Polkadot ecosystem. Astar will be a more appropriate name than the other two projects when it was born during a downtrend similar to Manta Network.

Summary

If we only consider the Polakadot ecosystem, the actual valuation of MANTA will be quite low because the projects in this are not having a good performance. However, if the Layer 2 factor is added, Manta will definitely be priced much higher. To find the optimal price, people can take the average between the two factors mentioned above.

Above is the price prediction for Manta Network exchange list from Weakhand. Hopefully through this article everyone will be able to get a correct price prediction and sell MANTA tokens from participating in the best airdrop, IDO, and Launchpool. .