Place/Date: Boston, Massachusettes - December 22nd, 2021 at 10:27 pm UTC · 3 min read
Contact: Kenny Li, Source: Manta Network
Manta Network, the Substrate-based DeFi privacy protocol stack, has officially unveiled its Dolphin Testnet to support MantaPay on the Manta-Polkadot network and MariPay on the Calamari-Kusama network.
With this launch, Manta Network opens its product suite for the community members for the first time, granting full access to the features. In addition, as part of the Dolphin testnet launch, the Manta team has also released its public Github repository for its tech-savvy community members.
Manta Network has developed several platforms and protocols designed to make decentralized finance (DeFi) more scalable and interoperable while improving security and privacy. At its core, Manta Network offers a suite of DeFi-centric privacy protocols that add a layer of anonymity for all DeFi transactions. This is accomplished by implementing zkSnarks and Groth16 zero-knowledge proofs to obfuscate wallet addresses entirely. As such, Manta Network plays the critical role of masking portfolio management activities, especially for large volume transactions.
Since its early days, the Manta and Calamari teams have made significant progress in terms of product development. The team has received grants, added several new milestones to its list, rolled out the mainnet version, executed runtime upgrades, and much more. This latest announcement markets the first time the Manta and Calamari teams have rolled out a testnet for community members to leverage. While building a layer-1 privacy network using zero-knowledge proofs is no small task, the Dolphin testnet launch marks another noteworthy achievement for the Manta and Calamari Network.
Amidst the growing demand for privacy-focused solutions for blockchain-based products, Manta Network has emerged as one of the platforms aiming to address this demand with its layer-1 solution instead of introducing another layer-2 solution. Both Manta and Calamari will offer enhanced privacy for the entire DeFi ecosystem through its range of products, including an automated market maker (AMM) decentralized exchange (DEX) and a payment protocol with built-in privacy. Over time, the Manta team also plans to roll out other add-on products like a synthetic asset protocol and private lending feature.
Remaking on the Dolphin testnet launch, Kenny Li, COO of Manta Network, notes:
“Privacy has always been a fundamental issue for us. The more users DeFi projects have, the greater the privacy issues become. Manta Network addresses this problem for the entire community, and the Dolphin testnet is just the first of many more community-oriented steps on our bursting roadmap.”
Founded in 2020, Manta Network has designed multiple protocols for privacy-preservation in the DeFi space by ensuring greater anonymity for multiple transaction activities, helping conceal user activity through the use of several cryptographic technologies, including zk-SNARKS and Groth16. Substrate-based protocols, including an AMM DEX and payment protocol, have already been unveiled, with others set to follow. Investors include Alameda Research, Polychain Capital, DeFiance Capital, CoinFund, ParaFi Capital, LongHash Ventures, SkyVision Capital, Zee Prime Capital, The Spartan Group, Divergence Capital, SNZ Holding, CMS Holdings, Global Coin Ventures, ConSensys, Digital Currency Group, and more.