As an analyst with a background in blockchain technology and experience in evaluating ecosystem funds, I’m excited about the Manta Foundation’s new $50 million ecosystem fund. The Manta Network’s growing Web3 space and focus on zero-knowledge (ZK) applications align with emerging trends in the industry.
As a researcher studying the latest developments in the Web3 sphere, I’m excited to share that the Manta Foundation has recently announced the establishment of their $50 million ecosystem fund. This fund is designed to support innovative projects aiming to delve deeper into the expanding Web3 landscape offered by the Manta Network.
Manta Network is a modular layer-2 network that supports zero-knowledge (ZK) applications.
The project intends to boost development by establishing a fresh $50 million ecosystem, providing financial support for teams working on projects within the Mantaverse.
Manta ecosystem fund applications open
As a analyst, I’d rephrase it as: “The Manta Foundation announced on Thursday that applications are now being accepted for funding from their EcoFund by prospective projects.”
As a crypto investor, I’d interpret that passage this way: “Manta Foundation has announced that they will invest $50 million in their ecosystem for a period of one year, starting from June 15th. Any applicants who are granted funding or receive direct investment from Manta Foundation will become part of the EcoFund Program.”
Based on the announcement, the EcoFund encompasses the Ecosystem Grant Program. This program is geared toward early-stage projects and extends financial assistance to developers seeking to introduce groundbreaking projects onto Manta Network.
The Ecosystem Grant Program will offer grants to teams building DeFi, Gaming, NFT projects.
As a crypto investor, I look for projects that not only showcase novel ideas but also provide value and help expand the Manta Network. By doing so, we create an atmosphere of collaboration and mutual benefit.
Manta EcoFund allocations
As an analyst, I would describe it this way: I, as part of the EcoFund team, will personally engage in investing directly into native applications and technology partners. Our primary focus will be on projects that demonstrate significant growth potential.
From the total sum of $50 million, it is planned that $35 million will be allocated for making direct investments. Meanwhile, $10 million is set aside for providing grants to early-stage projects. Additionally, the platform has designated $2 million for initiatives in the areas of AI, DeFi, zero-knowledge, and memecoins.
Another $5 million will go to hackathons and $4 million to general grants.
The expansion of Manta Network involves advancements in its zero-knowledge (ZK) applications, with Manta Pacific serving as the Layer 2 solution on the modular blockchain for Ethereum Virtual Machine (EVM)-compatible ZK apps.
According to DeFiLlama’s statistics, Manta presently holds a total of $53.4 million worth of assets being used within its decentralized finance (DeFi) ecosystem. This amount includes funds allocated for trading, lending activities, liquid staking, and decentralized exchange (DEX) transactions.
Read More
Sorry. No data so far.
2024-06-13 17:04