Manta Pacific, a rising Layer 2 network only 5 months old, has surpassed Coinbase's Base and climbed to the third position in terms of total value locked (TVL) within the Ethereum ecosystem. What has driven this young network to such remarkable success?

Two key factors:

New Paradigm Campaign: This upgrade pushed Manta Pacific to the top 4 by integrating yield-bearing assets directly into the network. For example, when you deposit Ether, the network automatically stakes it and returns the yield to you.

MANTA Token Launch: This event, along with high liquidity and trading volume on Manta Pacific, helped the network jump to the top 3.

What is Manta Pacific?

A network compatible with the Ethereum Virtual Machine (EVM), supporting decentralized applications (dApps), and using Celestia for data storage (considered a validium).

Utilizes OP Stack, currently has $1.7 billion in value locked in smart contracts, ranking behind Arbitrum and Optimism.

Manta Network also has another network called Manta Atlantic, which uses zero-knowledge proof technology on Polkadot, allowing for anonymous identity and information on the blockchain.

MANTA Token Launch: An Unexpected Challenge

Immediately after launch, the MANTA token was hit by a DDoS attack, causing network congestion and high transaction fees. However, the Manta team quickly resolved the issue and compensated affected users.

Advantages of Manta Pacific:

Reduced transaction fees: Switching to Celestia for data storage saves users about $1 million in transaction fees.

Developing zkEVM: Will combine zero-knowledge proof technology with Ethereum compatibility, promising enhanced privacy and efficiency.

Future of Manta Network:

The primary goal is to attract more projects to build on Manta Pacific and support the 150+ existing projects.

In summary: Manta Pacific is a promising Layer 2 network with rapid development and a clear strategy. Its success is a testament to the power of blockchain technology and the potential of Layer 2 solutions in scaling Ethereum.