Binance has announced the introduction of Manta (MANTA), the latest addition to its Launchpool platform. MANTA, a modular Layer 2 (L2) solution designed for Zero-Knowledge (ZK) applications, represents the 44th project on the Binance Launchpool. Starting from January 16, 2024, users will have the opportunity to stake Binance Coin (BNB) and FDUSD to farm MANTA tokens. This unique opportunity allows users to engage with the latest innovations in the blockchain space while potentially earning new tokens.
Staking and trading details for MANTA
The process for farming MANTA tokens is straightforward. Participants can stake their BNB and FDUSD into separate pools, with the entire farming period lasting for two days. Following the completion of the farming phase, Binance plans to list MANTA tokens on January 18, 2024. The exchange will offer trading pairs, including MANTA/BTC, MANTA/USDT, MANTA/BNB, MANTA/FDUSD, and MANTA/TRY. This expansion in trading options underscores the growing interest and versatility of the MANTA token within the cryptocurrency market.
Launchpool mechanics and token distribution
The MANTA Launchpool will feature a total of 30,000,000 MANTA tokens as rewards, equating to 3% of the maximum token supply. These tokens will be distributed among two staking pools: 24,000,000 MANTA (80%) for the BNB pool and 6,000,000 MANTA (20%) for the FDUSD pool. To participate, users must comply with KYC requirements. There are also set hourly caps for token distribution per user: 50,000 MANTA for the BNB pool and 12,500 MANTA for the FDUSD pool.
Binance’s introduction of Manta to its Launchpool platform marks another significant step in the exchange’s commitment to promoting new blockchain technologies and offering diverse investment opportunities to its users. With its focus on ZK applications and integration into the Binance ecosystem, the MANTA token is poised to capture the interest of both blockchain enthusiasts and investors looking for novel opportunities in the rapidly evolving world of cryptocurrency.
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