Binance Exchange (Binance) announced the launch of its 44th “New Coin Mining” project last night: the Privacy Zero-Knowledge Proof (ZKP) project Manta. Users can participate in mining by depositing BNB and FDUSD into the Manta mining pool after 8:00 AM today (January 16). As a result, BNB has surged above $320.
Background Information:
What is Binance Launchpool? How to participate in “New Coin Mining” and is the return on investment good?
Detailed information about Manta Launchpool:
Manta (MANTA) is a privacy Zero-Knowledge Proof (ZKP) Layer2 project. Users can participate in the two-day New Coin Mining activity by depositing BNB and FDUSD into the MANTA mining pool on the Launchpool platform after 8:00 AM on January 16, 2024, Taiwan time, to receive MANTA token rewards. In addition, Binance will also list MANTA/BTC, MANTA/USDT, MANTA/BNB, MANTA/FDUSD, and MANTA/TRY spot trading pairs (with seed labels) at 6:00 PM on January 18, 2024.
Detailed information about Manta Launchpool:
According to the announcement by Binance, the details of the Manta launch pool are as follows:
Token Name: Manta (MANTA)
Maximum Token Supply: 1,000,000,000 MANTA
Initial Circulating Supply: 251,000,000 MANTA (25.1% of the maximum token supply)
Total Mining Supply: 30,000,000 MANTA (3% of the maximum token supply)
Research Report: Manta (MANTA)
Smart Contract Details: MANTA Token (MANTA)
Restrictions: KYC required
Individual Hourly Mining Cap: BNB Pool: 50,000 MANTA; FDUSD Pool: 12,500 MANTA
It is worth mentioning that Binance also stated that users who participated in the Manta slot auction for Polkadot on the Binance platform and received MA tokens will have their MA tokens exchanged for MANTA tokens at a 1:1 ratio.
What is Manta (MANTA)?
According to the official explanation by Manta, it adopts zk-SNARK technology to provide complete end-to-end anonymity, high throughput, and cross-chain interoperability. It includes a decentralized privacy payment protocol, a privacy token exchange protocol, and a decentralized privacy lending and synthetic asset protocol that will be developed in the future. Manta has the following features:
Modular Data Availability: The communication data of each transaction is processed by Celestia, reducing the cost of processing each transaction on Manta Pacific.
Permissionless Smart Contracts: Projects on Manta Pacific can deploy Solidity-based smart contracts compatible with the EVM environment.
Universal Circuits: Developers can use Manta Pacific’s universal circuits to build ZK-supporting applications for different use cases, including DeFi, GameFi, identity, etc.
zkEVM Proof: Use ZK proof to perform batch verification of transactions to ensure cryptographic-level security.
BNB Surges Above $320
Binance has recently launched multiple new coin mining projects, and its platform token BNB has also seen multiple increases in value. After the launch of the Manta (MANTA) project, BNB experienced a significant surge last night, reaching a peak of over $320 around 8:15 PM. At the time of writing, it has slightly fallen to $316.2, with a 24-hour increase of 4.24%.
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Image Source: Binance Spot
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