Manta Network Secures Massive $25M Series A Funding Led by Polychain

Key Points:

• Manta Network raises $25M in funding from Polychain and Qiming Venture Partners, reaching a valuation of $500M!
• Funds will be used to accelerate development and expand capabilities, while the launch of the MantaPacific Testnet provides users with a preview of the network’s capabilities.
• Built on Substrate, Manta Network aims to revolutionize DeFi with its innovative approach to scalability and privacy, empowering users worldwide.

Manta Network has successfully raised an impressive $25 million in funding.

The Series A round was led by renowned investors Polychain and Qiming Venture Partners, further solidifying Manta Network‘s position in the crypto landscape. The funding round also attracted support from other prominent backers, including AllianceDao, SevenX Ventures, and CoinFund, adding to the momentum of the project.

Manta Network to a valuation of a staggering $500 million, a testament to its innovative vision and potential for growth within the decentralized finance (DeFi) space. The raised funds are expected to accelerate the network’s development and expand its capabilities, opening up new possibilities for the broader crypto community.

The Manta Network team is excited to celebrate this milestone by announcing the launch of the much-awaited MantaPacific Testnet. This testnet launch is a crucial step towards further refining and optimizing the network’s features before its full-scale deployment. As the community eagerly awaits the mainnet release, the MantaPacific Testnet will provide users with a glimpse of the network’s capabilities and functionalities.

Manta Network, built on Substrate, aims to address the challenges of scalability and privacy within the DeFi ecosystem. By leveraging zk-SNARKs and confidential assets, the protocol ensures a secure and private environment for users to engage in financial transactions without compromising data integrity. With this innovative approach, Manta Network strives to revolutionize the DeFi landscape, fostering greater adoption and accessibility for users worldwide.

The successful funding round and the launch of the #MantaPacific Testnet have generated immense enthusiasm within the crypto community. Industry experts and enthusiasts alike are closely monitoring the project’s developments as it continues to showcase its potential in the competitive DeFi space.

The p0x labs team is committed to driving forward its vision of creating a decentralized and privacy-preserving financial ecosystem. The recent funding and the subsequent testnet launch represent significant milestones in the journey towards achieving this vision.

As the Manta Network project gains traction, its impact on the broader blockchain and DeFi industry is expected to be profound. The network’s innovative solutions and emphasis on privacy are set to empower users and contribute to the overall advancement of the decentralized finance landscape.

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