Binance, the leading cryptocurrency exchange, has unveiled its 44th project on Binance Launchpool, Manta (MANTA), a modular Layer 2 solution for Zero-Knowledge (ZK) applications. Meanwhile, Binance said that the users can stake their BNB and FDUSD in separate pools to farm MANTA tokens over two days.

Meanwhile, this strategic move comes amid Manta Pacific, the in-house Layer 2 modular blockchain by Manta Network, experiencing a substantial surge in Total Value Locked (TVL). The addition of the project has gained notable traction in the crypto landscape, providing enthusiasts with an innovative opportunity to engage in the burgeoning decentralized finance (DeFi) ecosystem.

Binance Adds Manta To its Launchpool

The recent announcement of Binance showed that the users can anticipate the listing of MANTA on January 18, 2024, with trading pairs including MANTA/BTC, MANTA/USDT, MANTA/BNB, MANTA/FDUSD, and MANTA/TRY. Meanwhile, the Seed Tag will be applied to MANTA, ensuring a seamless integration into the Binance ecosystem.

According to the announcement, the MANTA Launchpool boasts a maximum token supply of 1,000,000,000 MANTA, offering 30,000,000 MANTA, 3% of the maximum token supply, as a reward. In addition, with an initial circulating supply of 251,000,000 MANTA, i.e. 25.1% of the max token supply, the project aligns with Binance’s commitment to fostering innovative decentralized solutions. Users can stake BNB and FDUSD separately, each with its reward pool, during the farming period from January 16 to January 17, 2024.

Notably, Binance users are encouraged to seize this opportunity, leveraging the hourly rewards, and benefit from the robust features of MANTA. As Binance continues to push the boundaries of DeFi, MANTA stands as a testament to the platform’s commitment to empowering the cryptocurrency community with cutting-edge opportunities.

On the other hand, this launch also emphasizes Binance’s dedication to user-friendly experiences, allowing participants to unstake their funds at any time, switch between available pools seamlessly, and accumulate rewards directly to their spot accounts. Binance BNB Vault and Locked Products will also support the Launchpool, ensuring a comprehensive and inclusive engagement for users staking their BNB, the announcement showed.

Also Read: Hedera Partners Hitachi US To Advance Real-World Web3 Potential

Unveiling Eligibility & Global Outreach Amid Soaring TVL

While the excitement is palpable, it’s important to note that participation in the MANTA Launchpool is subject to eligibility based on the user’s country or region of residence. Users are advised to refer to the instructions on the Launchpool page to ensure compliance with jurisdictional regulations. Currently, residents in certain countries, including the United States, Japan, and Canada, among others, may not be eligible for participation, according to the announcement.

However, the listing news has gained notable traction from the crypto market enthusiasts, amid a soaring TVL of Manta Pacific in recent days. Notably, Manta Pacific, Manta Network’s native Layer 2 modular blockchain, experienced a significant surge in Total Value Locked (TVL), surpassing $800 million, and reaching $838 million according to L2BEAT data.

This noteworthy increase underscores Manta Network’s robust growth, solidifying its status as a rapidly expanding Layer 2 solution within the Ethereum ecosystem. Simultaneously, as Binance continues to innovate and expand its ecosystem, MANTA emerges as a promising addition, offering users a dynamic entry point into the ever-evolving world of decentralized finance. The crypto community eagerly awaits the transformative impact of MANTA on Binance Launchpool and beyond.

Meanwhile, the BNB price rallied 4.74% to $318.07 as of writing, with its trading volume soaring 80% to $1.35 billion during writing.

Also Read: Bitcoin, Ethereum, & XRP Usher $1.18 Billion In Crypto Funds Inflow

The post Binance Adds Manta Network As Manta Pacific’s TVL Surpass $800 Mln appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am