Manta Network, a layer-2 modular network designed for zero-knowledge applications, has unveiled a substantial financial initiative through its parent organization, the Manta Foundation. This initiative includes a $50 million ecosystem fund aimed at accelerating project development within its blockchain environment. The fund is structured to last for one year, beginning on June 15th. Successful applicants for grants or direct investments will participate in what is known as the EcoFund Program.
Zero-knowledge (ZK) proofs play a fundamental role in the cryptographic landscape. They are protocols that enable a person, called the prover, to assure another party, known as the verifier, of the truth of a specific claim without revealing any details that substantiate the claim. This capability is particularly vital in the world of cryptocurrencies, as it supports anonymous transactions without exposing transaction details or the users’ identities.
Out of the total $50 million ecosystem fund, $35 million is earmarked for direct investments in promising projects that operate on the Manta Network. $10 million will serve as ecosystem grants. A further breakdown of the fund includes $5 million allocated for hackathons, $4 million for general grants, and $2 million specifically reserved for projects focused on artificial intelligence, memecoins, and zero-knowledge technologies.
Manta’s primary aim is to support projects that
Why so much focus on memecoins? It feels like Manta is looking to hop on trendy bandwagons rather than serious development.
Throwing $50 million at the wall and hoping something sticks isn’t a strategy.
$35 million for investments but only $4 million for general grants? This seems skewed and unfair. 💀
Another fund that’s likely to go nowhere. Manta Network isn’t convincing with its lofty promises.
Manta Network is really setting the bar high with this EcoFund Program. Can’t wait to see the innovations that come out of this.
Wow, $50 million in funding! This is exactly what the cryptosphere needs to foster new ideas and technologies. Looking forward to the developments!
Absolutely thrilled to see such a huge investment in zero-knowledge technologies. It’s a game-changer for privacy in crypto transactions.
Zero-knowledge proofs are complex and not everyone understands them. Manta’s communication is confusing and
One-year fund duration is too short to make meaningful progress. Just another rush job in the crypto hype cycle.
This is incredible news for the blockchain community! 🎉 Manta Network’s initiative is going to boost innovative projects, and the focus on zero-knowledge applications is very promising. 🚀
What’s with the vague promises? If Manta can’t provide detailed plans, I’m staying far away.
Manta Network and zero-knowledge proofs sound good but implementing them effectively and securely is a whole other story.
The blockchain world is going to benefit immensely from this. Kudos to Manta Network for stepping up with this fantastic initiative!