Manta Network
Crypto Overview
Purpose and Utility
Manta Network is a Layer 1 blockchain platform focused on providing privacy-preserving services for Web3. It aims to enable private transactions and decentralized applications while maintaining compliance and auditability. The network utilizes zero-knowledge proofs to ensure transaction privacy.
Business Model Analysis
The MANTA token serves multiple purposes: it's used for network security through staking, governance participation, and as a means of payment for transaction fees. The project's focus on privacy while maintaining compliance aligns with Islamic principles of transparency and ethical conduct.
Real-World Adoption
Launched in January 2024, Manta Network has demonstrated significant early adoption. The network supports various privacy-focused DeFi applications and has partnerships with major blockchain platforms. The token is actively used for staking and governance.
Platform Development
The project shows strong development activity with regular updates and improvements. The team maintains an active GitHub repository and frequently releases technical updates. The ecosystem includes various privacy-preserving applications built on top of the base layer.
Token Distribution
The token distribution includes allocations for ecosystem development, team members, and early investors with appropriate vesting schedules. Team tokens are subject to a 3-year vesting period with a 1-year cliff, indicating long-term commitment.
Technology Assessment
The core technology focuses on privacy-preserving transactions and smart contracts, which align with Islamic principles as long as they're not used for prohibited activities. The network's emphasis on compliance and auditability helps ensure transparency.
Crypto Impact
To assign a comfort level investing in Manta Network from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Manta Network.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.