Binance announced the launch of its 44th edition of the “New Coin Mining” project, Manta (MANTA), last night. Users can participate in mining by depositing BNB and FDUSD into the mining pool starting from 8:00 today. BNB has also surged above $320 due to incentives.
Background:
What is Binance Launchpool? How to participate in “New Coin Mining” and is the return on investment good?
Detailed Information on Manta Launchpool:
Manta (MANTA) is a privacy Zero-Knowledge Proof (ZKP) Layer2 project. Users can participate in the two-day mining activity by depositing BNB and FDUSD into the MANTA mining pool on the Launchpool platform starting from 8:00 on January 16, 2024, Taiwan time, and receive MANTA token rewards. Additionally, Binance will list MANTA/BTC, MANTA/USDT, MANTA/BNB, MANTA/FDUSD, and MANTA/TRY trading pairs (with seed tags) on January 18, 2024, at 18:00.
Detailed Information on Manta Launchpool:
According to the announcement by Binance, the details of the Manta Launchpool 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 Mining Pool: 50,000 MANTA; FDUSD Mining Pool: 12,500 MANTA
It is worth mentioning that Binance also announced 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 ratio of 1:1.
Note: For information on how to participate in Binance Launchpool, please refer to the complete tutorial on Binance “New Coin Mining”.
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 operation capabilities. It includes a decentralized privacy payment protocol, privacy token exchange protocol, and a decentralized privacy lending and synthetic asset protocol under development. Manta has the following features:
Modular Data Availability: Call data for 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 Circuit: Developers can utilize Manta Pacific’s universal circuit to build ZK-supporting applications for different use cases, including DeFi, GameFi, identity, etc.
zkEVM Proof: Use ZK proofs to perform batch verification on transactions to ensure cryptographic-level security.
BNB Surges Above $320:
Binance has recently launched several new coin mining projects, which have incentivized the rise of their platform coin, BNB. After the launch of the Manta (MANTA) project, BNB experienced a significant increase and reached a peak of over $320 around 20:15 last night. At the time of writing, it has slightly retreated to $316.2, with a 24-hour increase of 4.24%.
Image Source: Binance Spot
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