Manta’s blockchain has achieved a total value locked (TVL) of $420 million, with LayerBank emerging as the dominant force within the ecosystem. As a decentralized lending protocol, LayerBank commands a substantial share, boasting over $325 million in assets.
Manta, a rapidly growing modular blockchain specializing in zero-knowledge applications, has swiftly become one of the world’s fastest-growing networks. DeFi Llama reports that the Total Value Locked (TVL) in Manta’s DeFi ecosystem has recently reached an all-time high of $420 million.
Manta’s Remarkable Rise in the Blockchain Rankings
Manta, a new blockchain known for zero-knowledge applications, has quickly become the world’s tenth-largest chain, surpassing famous ones like Cardano and EOS. Its DeFi ecosystem has reached an impressive $420 million in Total Value Locked (TVL), a key metric reflecting network activity. Despite potential concentration concerns, Manta’s TVL highlights widespread usage.
LayerBank, the major player in Manta’s ecosystem, operates as a lending protocol with $325 million in assets, showing a notable 13% increase in the last seven days. The network’s website reports a $480 million market size, with $58 million borrowed, emphasizing LayerBank’s pivotal role in Manta’s thriving blockchain ecosystem.
Manta’s DeFi Landscape and Growth Initiatives
Within Manta, eight DeFi decentralized applications (dApps) boast a collective Total Value Locked (TVL) exceeding $1 million. Alongside LayerBank, prominent dApps in the ecosystem include Shoebill, Quickswap, ApertureSwap, and Steer Protocol, contributing to Manta’s thriving decentralized finance landscape.
Manta’s notable growth coincides with ongoing development initiatives, including the Into the Blue and Manta New Paradigm airdrops. Into The Blue rewards users with 50 million MANTA tokens, equivalent to 5% of the total supply.
Notably, Manta operates on well-known blockchains such as Celestia, Polygon, Optimism Stack, and Polkadot. With backing from Polychain Capital and Binance, Manta was recently added to Binance’s launchpool, further highlighting its strategic position in the blockchain space.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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