Research Summary
The report discusses the potential value of the Manta token, a cryptocurrency associated with the Manta Network, a multi-modular ecosystem built for privacy-powered applications. The report also explores the network’s unique features, including its use of Celestia for its Data Availability layer and its focus on zero-knowledge applications.
Key Takeaways
Manta Network’s Unique Features
- Manta Network’s Structure: The Manta Network is not just another blockchain, but a multi-modular ecosystem built for privacy-powered applications. It has two distinct chains: Manta Atlantic and Manta Pacific. The latter, an Ethereum L2, was created specifically for zero-knowledge EVM-native apps.
- Use of Celestia: Manta is unique in that it is the first to use Celestia for its Data Availability layer. By utilizing Celestia, Manta pays significantly less, thereby increasing its margins and profits.
- Focus on Zero-Knowledge Applications: Manta is designed for zero-knowledge (ZK) applications. ZK proofs are cryptographic tools that prove you have something (like money) without revealing what it is, unlocking a world of possibilities, from private DeFi & NFTs to secure identity management.
The Manta Token
- Token Supply and Unlock: The Manta token has a max supply of 1 billion tokens, with 251 million tokens (25.1%) unlocked from day one. There’s a 3.4% unlock on March 1st.
- Current Trading Price: At the time of the report, the Manta token was trading at $2.16.
Estimating Manta’s Worth
- Comparison with Other Tokens: The report compares Manta’s worth with that of OP and ARB, using the FDV to TVL ratio. If Manta’s ratio is similar to ARB’s, its FDV could be around $3.40B, and if it’s similar to OP’s, the FDV could be around $6.92B.
Actionable Insights
- Monitor Manta’s Performance: Given the unique features of the Manta Network and the potential value of the Manta token, it could be beneficial to keep an eye on its performance and market trends.
- Consider the Impact of Zero-Knowledge Applications: As Manta is designed for zero-knowledge applications, understanding the potential and limitations of these applications could provide insights into the network’s future prospects.
- Assess the Potential of Celestia: Manta’s use of Celestia for its Data Availability layer is a unique feature that could have significant implications for its cost efficiency and profitability. Understanding the potential of Celestia could provide valuable insights.
