Today, with the rapid development of blockchain technology, the launch of $MANTA token has undoubtedly brought new vitality to the digital asset market. This article will provide an in-depth look at the working mechanism of the $MANTA token, issuance plans, and future transparency efforts to help investors and users better understand this innovative product.
A basic introduction to the $MANTA token
The total initial supply of $MANTA tokens is 1 billion tokens. The tokens will be distributed across two networks, Manta Atlantic and Manta Pacific. As liquidity flows between the two networks, tokens will be locked and unlocked in the Celer Bridge’s liquidity pool. Transparency in this process is ensured through open source code and audits.
Manta Atlantic and the issuance of $MANTA tokens: On the Manta Atlantic network, $MANTA tokens will be distributed to public investors, private investors, strategic investors, institutional investors, foundations, team members and advisors. These tokens will be gradually released according to the unlocking plan. The Manta Pacific network has a contract that locks in the supply of tokens allocated to Atlantic. When Atlantic’s tokens are released under the unlocking schedule, the Pacific contract will accordingly deploy the unlocked tokens into the Celer liquidity pool, enabling token holders to bridge between the two networks.
Manta Pacific and the Issuance of $MANTA Tokens
On the Manta Pacific network, tokens will be allocated to multiple projects, including Airdrop 1 (Into the Blue), Airdrop 2 (New Paradigm), Binance Launchpool, and the ecosystem/community. Similar to Manta Atlantic, these tokens will also be locked and unlocked through the Celer liquidity pool.
Transparency Efforts: In an effort to increase transparency, these metrics will be displayed via dashboards in the future. When the contract is deployed, it will be verified and made public on the chain. This move not only enhances user trust, but also provides the community with a better regulatory mechanism.
Token Release Plan
During the TGE (Token Generation Event) phase, the initial circulating supply of $MANTA will reach 251 million. During the TGE phase, released MANTA tokens will be distributed to Airdrop, New Paradigm (Airdrop 2), public sales, advisors, and the ecosystem and community.
Specific arrangements for token release: Airdrop — 5.60%
Detailed eligibility criteria can be found in the Airdrop announcement. This airdrop will be available for claim from January 18, 2024 to June 18, 2024 at 11:59 PM UTC.
Release plan
50 million $MANTA will be unlocked during TGE as airdrop tokens for the “Into the Blue” event.
6 million $MANTA will be unlocked during the TGE and distributed to users participating in the Binance Parachain auction.
Rewards that are not claimed during the claim period will be reallocated back to the ecosystem fund, and community governance will decide how to reallocate them.
New Paradigm (Airdrop 2) — 6.5%
To establish Manta as a leader in Layer 2 solutions, we launched our breakthrough product, New Paradigm. This innovative Layer 2 product not only delivers real benefits, but also offers a range of benefits to users. 6.5% of the total $MANTA supply will be allocated to New Paradigm participants.
Basic reward:Base reward — 3% of total supply
Participants will receive corresponding rewards based on the number of tokens they hold.
in conclusion
The launch of the $MANTA token marks an important milestone in blockchain technology for the Manta project. Through the interoperability of the two networks, Manta Atlantic and Manta Pacific, the $MANTA token will not only provide liquidity to users, but also create more value in the ecosystem. With increased transparency and the gradual implementation of the release plan, the future development of the $MANTA token will be worth looking forward to. Whether you are an investor or a user, understanding how the $MANTA token works will help you make informed decisions in this rapidly changing market.