Manta Co-founder shares project progress: Focus on RWA ecosystem construction and explore decentralized sorters

Victor Ji, co-founder of Manta Network, shared the progress of the project in the four months after TGE on the X platform: First, TVL dropped from $2 billion to about $800 million. We believe that this is related to the excessively high yields given by various L2 and Restaking projects in the market. Everyone has learned Manta's New paradigm and turned this lock-up airdrop paradigm into the basic operation of each L2 (even no matter how long it takes to go to the main network). Although Manta continues to develop the renew paradigm to give projects in the ecosystem a better opportunity to develop, we found that many users do not care about ecosystem projects, but only expect the benefits of the chain, which makes us either give a very amazing amount of MANTA to maintain TVL or choose TVL loss. However, when we found that the ecosystem projects in the renew paradigm were not attractive enough, we chose another direction: 1) With the launch of Manta CeDefi today, we brought the benefits of funding rates, which is the highest benefit in this market neutrality, to BTC, ETH and stablecoins on the chain. All assets can rely on CeDeFi products to obtain relatively high native benefits. This is more durable and more stable than MANTA token subsidies. As the market value of each L2 goes online and gets smaller and smaller, we can find that the era of TVL incentives for native tokens is basically over. In addition to the current CeDeFi, Manta is also very concerned about the construction of the RWA-oriented ecosystem. We first cooperated with the most compliant native yield stablecoin USDM in the United States, and everyone will see further development after this cooperation. In Asia, we joined Hong Kong Cyberport and will further promote the behavior of financial institutions on the chain; 2) We will further develop Manta's ecosystem. Our ecological projects have increased to 200+, and there are more than 50 DeFi projects in DefiLlama. This shows that Manta has a comprehensive ecosystem, but it also needs to continue to build better product builders. Now Manta's problem is the same as Ethereum and all EVMs. There are many builders, but there are not enough cooperation in the ecosystem. We insist on iterating products in the ecosystem. We have seen some potential in zk app accelerators, such as Nimble and Gull. In addition, various problems occurred in the coordination of ecological projects in the previous renew paradigm, such as ZeroLend's airdrop was not issued in time, Stakestone did not get EigenLayer points, etc., but the products and technologies of ecological projects will have some limitations and cannot be iterated in time. We also apologize to the community for this, and will learn lessons and promote the implementation of relevant benefits earlier. In short, Manta's underlying layer has a very good foundation, very low gas fee, Binance's ETH direct deposit and withdrawal, and a very open ecological environment, but at the same time we will further hold hackathons, further open the governance system and grant application mechanism, and work with the community to promote real large-scale applications. 3) In the development of infrastructure, we are also in the process of integrating type1 prover, and strive to promote Manta to be the first L2 in OP Stack to implement multiprover. At the bottom of zk applications, we are also working hard to promote product integration with RWA-related scenarios. In addition, we also have more decentralized explorations in decentralized sequencers and other aspects.