Thoughts on MANTA: Binance Launchpool

By bengy | Idle Musings | 16 Jan 2024

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Holy crap, this is now the 5th Launchpool within two months for Binance. Either we are definitely heading into a serious bull market, or Binance is desperately trying to find use cases to help pump BNB. In either case, it is a decent time to be a BNB token holder... although, the announcement period is pretty tight at around 1 day, and the farming period for MANTA is also really short at 2 days!

That means that you need to have your BNB liquid and ready to move fast if you want to take part in these lucrative farming opportunities. I've started to reduce the amount of BNB being staked on-chain due to the 7 day unstaking period making it practically useless for this purpose..... and Binance has restricted staking/earn products in Australia in the exchange... and so that means that I'm quickly bouncing to ByBit to pick up some interest yield whilst there isn't an active Launchpool. It is a bit hectic, and there is definitely some fat finger risk in the transfers... as well as the potential for the non-Binance exchange to be going belly up... so, I do wonder if I should just leave things as they are instead of chasing yield. But what are bull markets for if it isn't the healthy and reckless behaviours?

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Anyway, Manta Network is an interesting project... I had heard about it briefly late last year as part of the multitude of projects that were doing zkEVMS... but what was interesting about this particular project was that it was ALSO pursuing the modular concept as well. The modular concept being the current Ethereum/Cosmos approach to scaling... where various functions of a general compute blockchain are offloaded to specialist chains in order to increase throughput and lower gas fees.

There are technically two Manta networks... one (Pacific) is the Ethereum (Optimism) based version that will be integrating Celestia and Polygon zkEVM, and the other (Atlantic) is the Polkadot version that seems to be doing attestation/identity stuff?

Anyway... the MANTA token isn't really doing much new in terms of use case... the real innovation is in the zkEVM and modularity... and as such, it does tickly my infrastructure fancies!

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... and onto the Binance Launchpool... a bit less than 10 percent of initial circulating supply and a 3 percent of total supply. Just two days for the farming... so this is a pretty wizz-bang sort of affair. I do wonder if this is going to be the norm going forward? Each of the last few Launchpools have had shorter and shorter announcement and farming periods.

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... and here we have the visualisation of the modular components of Manta Pacific. Celestia will provide the Data Availability and Polygon zkEVM (previously Hermes?) will be providing the zk-proving... and all rolled up on a L2 based on Optimism to finally settle on Ethereum. So, hopefully all the components working to their individual strengths... the new approach to scaling.

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... oh, here it is again... in pretty picture form.

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So, here is the total supply distribution... lots of pretty coloured rainbows... but a good chunk has been allocated to pre-investors... before the airdrop (Into the Blue) and this Launchpool. I do wonder if the second airdrop naming is a bit of a dig at crypto-VCs?

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However, more critical is the token release... and as you see, there is a fair bit of other token liquidity sources available at token generation (TGE). The Binance Launchpool is a bit less than 10 percent of this... and I do wonder if this will cause a larger dump than normal... on the other hand, maybe there are more people like me who see this one as one of the worthier Launchpool projects... unlike many of the ones in the previous month which were more easily dumped.

I do think that I'm going to hold a much larger portion of this farming event... the infrastructure potential is just too enticing for me to ignore this time!

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... huh... LayerZero and SpaceID are two names that I hadn't seen for quite a while... I was wondering if they were still active or not!

Image from thread

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Handy Crypto Tools

Ledger Nano S/X: Keep your crypto safe and offline with the leading hardware wallet provider. Not your keys, not your crypto!
Coinbase Wallet: Multi chain wallet with lots of opportunities to Learn and Earn!
Binance: My first choice of centralised exchange, featuring a wide variety of crypto and savings products.
WooX: The centralised version of WooFi. Stake WOO for fee-free trades and free withdrawals! This link also gives you back 25% of the commission. Decentralised perpetual futures trading on Arbitrum!
Coinbase: If you need a regulated and safe environment to trade, this is the first exchange for most newcomers! Mixed feelings, but they have the BEST looking VISA debit card in existence! Seriously, it is beautiful!
CoinList: Access to early investor and crowdsale of vetted and reserached projects.
Cointracking: Automated or manual tracking of crypto for accounting and taxation reports.
KuCoin: I still use this exchange to take part in the Spotlight and Burning Drop launches.
MEXC: Accepts HIVE, and trades in most poopcoins! Join the casino!
ByBit: Leverage and spot trading, next Binance?
OkX: Again, another Binance contender?

Image from thread

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I am a Musician (Violinist/Violist) specialising in Early Music living in The Netherlands. I have a background in Mathematics and Physics due to an earlier tertiary level study... and so, I'm still quite interested in Science and Technology related stuff!

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Idle Musings

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