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May 15, 2024

Manta Network Introduces Native Staking, Allowing Users To Stake MANTA With Omni Liquid Staking

In Brief

Manta Network announced that it now supports MANTA token native staking on Manta Pacific through Bifrost LSD protocol.

Manta Network Introduces Native Staking, Allowing Users To Stake MANTA With Omni Liquid Staking

Multi-modular ecosystem for zero-knowledge (ZK) applications, Manta Network (MANTA) announced that it now supports MANTA token native staking on Manta Pacific through the full-chain liquid staking derivatives (LSD) protocol Bifrost.

Manta Pacific is an EVM-compatible network designed to facilitate support for decentralized applications. It utilizes Celestia for data availability and employs a modified OP Stack to establish a technical infrastructure characterized by scalability and low gas fees. As per L2 Beat, the network currently holds $744 million in value across its smart contracts.

Now, users of EVM-based platforms have the ability to Liquid Stake MANTA tokens on Manta Pacific using the Omni Liquid Staking decentralized application (dApp). This offers them the opportunity to secure the network while unlocking liquidity.

Bifrost‘s Manta Network liquid staking token (LST), vMANTA, will enable access to additional decentralized finance (DeFi) activities within the Manta Pacific ecosystem.

As per an official announcement by Bifrost on the social media platform X, additional DeFi scenarios and use cases will be unveiled in the upcoming weeks. This will further enhance the interoperability of vMANTA.

To participate in staking, users are advised to utilize the Omni Liquid Staking platform. They should connect their wallet, choose the Manta Pacific network from the top left corner of the interface, and select vMANTA to enter the MANTA liquid staking webpage. After entering the desired amount of MANTA tokens for staking, they should click the “approve” button, followed by “stake now,” and then complete the on-chain signature and verification process.

Keep track of cryptocurrency distributions in our Airdrops Calendar.

What Is Manta Network?

Manta Network functions as a multi-modular ecosystem serving ZK applications. Manta Pacific represents one of two networks offered by Manta Network. The other is Manta Atlantic–a ZK Layer 1 blockchain on Polkadot that provides programmable identities and credentials for Web3 with zkSBTs. The combination of these two solutions provides a distinctive environment for the advancement and adoption of Web3 applications.

The project is supported by several prominent venture capital firms, encompassing Binance Labs and Polychain Capital. Recently, Manta Network unlocked 21.67 million MANTA tokens, valued at approximately $40.52 million, representing 8.67% of the circulating supply.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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