Easy way to Buy MANTA token(MANTA) Online with Wigwam crypto app

MANTA token review 

MANTA token is the native ERC-20 currency token of the Manta network (including both Manta Pacific and Manta Atlantic), it acts as a medium of exchange in its ecosystem. The token offers benefits such as low gas fees and sequencer revenue on Manta Pacific, meanwhile, on Manta Atlantic, the token is utilized for network usage fees, as a medium of exchange, and as a reward for participation. MANTA tokens have an important role in the Manta Network because they unite the interests of all members of the Manta community with governance rights.

About MANTA token

The Manta network is a unique multi-modular ecosystem designed to overcome the limitations of existing blockchain networks. The network consists of two blockchains; Manta Pacific and Manta Atlantic.

Manta Pacific is a scalable Ethereum Layer 2 solution that provides high scalability with ZK applications that are EVM-compatible. Meanwhile, Manta Atlantic runs Polkadot as a Layer-1 solution that provides the fastest ZK implementation with a focus on interoperability, offering modular on-chain compliance identities. 

MANTA Coin Use Cases

The MANTA coin plays many crucial roles in its ecosystems, such as:

Governance: MANTA token holders get to decide the destiny of the Manta Network via voting on crucial proposals and electing council members on the Manta Pacific and Manta Atlantic chains.

Staking: Collators are required to stake MANTA as collateral for generating blocks, and token holders have the option to delegate their tokens to collators too.

Network Fees: Manta Atlantic utilizes MANTA tokens as transaction expenses, which are later dispensed among new projects, treasury, and rewards for collators.

Native Liquidity: The MANTA token serves as native liquidity within the ecosystem offering various applications and services.

Rewards: A huge part of the MANTA supply is utilized for numerous ecosystem initiatives and rewards, encouraging users’ participation in its environment for imparting liquidity and producing blocks.

zkSBTs and zkKYCs: MANTA tokens can be used to buy credentials like zkSBTs (Zero-Knowledge Scalable Bitcoin Trees) and zkKYCs (Zero-Knowledge Know Your Customer) within the Manta ecosystem.

DeFi Ecosystem: Manta Network offers an emerging DeFi ecosystem where users can use MANTA tokens and earn additional yields. 

Economic Value

MANTA tokens have a maximum supply of 1,000,000,000 tokens, it is set to be issued at an annual mint rate of 2% from its inception since it follows a deflation model. This means that 2% of the total MANTA tokens issued each year will be minted and will be added to the circulation supply from 30 January 2024 onwards. It has a circulation supply of 250,036,078 tokens.

Challenges

The MANTA token has faced many challenges since its public launch, with the main challenge being the Distributed Denial of Service (DDoS) attack that caused a significant increase in transaction requests, and network overload, resulting in long transaction times, and higher gas fees. Negatively affecting user experience and network performance.

The attack also caused a temporary drop in the price of the MANTA token as the token was initially trading around $2.70, but after the attack, it dropped 22%, trading at $2.08 This change has affected investor confidence in the MANTA token and Manta Network.