Manta Pacific Pioneers Real-World Asset Integration in Web3
Alvin Lang Jun 28, 2024 18:53
Manta Pacific is leading the charge in integrating real-world assets into Web3, enhancing the Manta Network ecosystem with innovative RWA initiatives.
Manta Pacific is at the forefront of integrating real-world assets (RWAs) into the Web3 ecosystem, according to Manta Network. The platform is enhancing its ecosystem with assets like Mountain Protocol’s wUSDM, a stablecoin yielding 5% and backed by US Treasury bills and BlackRock’s BUIDL Fund.
Why Real-World Asset Management?
In the Web3 sphere, RWAs have the potential to revolutionize asset management and ownership. Manta Network provides individuals and organizations with tools to efficiently oversee these tangible assets via a decentralized framework. The platform aims to bridge the traditional financial world with the decentralized future by tokenizing tangible assets, making them accessible to all, and promoting greater liquidity and transparency in asset management.
Key Features of Manta Pacific
Manta Pacific’s modular architecture, leveraging Celestia’s Data Availability layer, ensures high performance and scalability. The design allows parallel transaction processing and efficient resource allocation, making it capable of handling substantial transaction volumes with low latency and high throughput. This architecture facilitates seamless upgrades and integrations, maintaining operational continuity and flexibility.
The platform integrates directly with native protocols, offering users direct access to yields and RWAs within the network. Through protocol-native assets like wUSDM from Mountain Protocol, the platform enables diverse DeFi opportunities, optimizing asset utilization across lending, borrowing, and staking protocols.
Collaborations with regional enterprises enhance RWA tools. A notable partnership with Cyberport, Hong Kong’s leading digital technology incubator, aims to drive innovation in sectors such as finance and education by exploring real-world applications of Web3 technologies.
RWA-Based Applications on Manta Network
Mountain Protocol’s USDM stablecoin, built on Manta Pacific, has quickly become the largest Treasury-backed stablecoin, reaching a market capitalization of $153 million and ranking as the third-largest RWA protocol by total value locked. Manta Network leverages wUSDM, Mountain Protocol’s Liquid Staking Token (LST) on Manta Pacific, which is backed by U.S. Treasury bills and BlackRock’s BUIDL Fund. This integration merges traditional finance with DeFi, providing stability and yields from traditional financial instruments.
Expanding the RWA Portfolio
The Manta community can anticipate an exciting array of new RWAs and the development of more RWA-based applications on Manta Pacific. The upcoming cohort in the zk Accelerator Program will focus on supporting RWA-related projects, aligning with Manta Network’s commitment to evolving and leading in the Web3 landscape.
The inaugural zk Accelerator Program, held with Celestia and Polygon, demonstrated Manta Network’s dedication to scalable Web3 solutions. The upcoming cohort will further strengthen capabilities and expand offerings in the RWA sector.
About Manta Network
Manta Network is a modular blockchain for zero-knowledge (ZK) applications. The Manta Pacific ecosystem is designed for EVM-native ZK applications and dApps, offering users low costs and optimal experiences. By leveraging Manta’s Universal Circuits for ZK-as-a-Service and Celestia’s data availability for modularity, the platform delivers low gas fees, creating an ideal environment for ZK-enabled applications. Founded by a team from prestigious institutions like Harvard, MIT, and Algorand, Manta Network has attracted investments from top Web3 funds, including Binance Labs and Polychain Capital.
For more information, visit Manta Network’s official announcement.
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