Manta Pacific, the native Layer 2 modular blockchain of Manta Network, has experienced an incredible surge in Total Value Locked (TVL) in the last quarter. Starting at $10 million just four months ago, Manta Pacific’s TVL has now surpassed $800 million, making it one of the fastest-growing Layer 2 solutions in the Ethereum ecosystem. This growth can be attributed to Manta Network’s strategic “New Paradigm” campaign, which bridged a staggering $642 million in just three weeks.
Manta Network has gained attention for its efforts in the realm of modular blockchains, becoming the first Ethereum Layer 2 solution to integrate Celestia’s modular data availability (DA) model. This integration has resulted in an 80% reduction in costs for developers and end users compared to other Layer 2 solutions. As the cryptocurrency market anticipates a new bull market phase, the most cost-effective and user-friendly Layer 2 solutions that can effectively scale Ethereum are expected to drive user adoption.
Kenny Li, co-founder, COO, and core contributor at Manta Network, commented on the network’s rapid growth, stating, “New Paradigm captured the attention of a large community due to Manta Pacific being the only live modular Layer 2 with native yield for ETH and stablecoins. This has propelled Pacific into becoming the third-largest ecosystem with over $800 million in TVL, following Arbitrum and Optimism.”
Projects within the Manta Pacific ecosystem, such as LayerBank, Shoebill, QuickSwap, and Aperture Finance, have also seen significant progress. Their lending pools have surpassed the $500 million supply mark. Manta Network aims to encourage more DeFi projects to deploy on Manta Pacific and achieve similar levels of success. The network’s roadmap includes the implementation of zkEVM via Polygon CDK and continuous efforts to reduce gas fees through its integration with Celestia’s modular data availability.
As Manta Network takes the lead in modular blockchains, the Ethereum-based layer 2 network Arbitrum holds a market share of 49.17% among layer 2 networks, surpassing Optimism Mainnet with a market share of 28.85%.
The source of the article is from the blog coletivometranca.com.br