Manta Network
Summary
Manta Network is a dual-chain blockchain ecosystem developed by p0x Labs, consisting of Manta Pacific (an Ethereum Layer 2 optimium using OP Stack and Celestia for data availability) and Manta Atlantic (a Polkadot parachain, scheduled for deprecation in August 2026). The project raised $31.6 million across six funding rounds, including a $25 million Series A led by Polychain Capital valuing p0x Labs at $500 million. Material concerns include alleged insider token dumping at its Bithumb listing in January 2024, centralized sequencer and upgrade control flagged critical by L2Beat, a 98% token price decline from its all-time high, a 95% TVL collapse from peak, and exposure to failed investors Alameda Research and Three Arrows Capital.
Timeline(14 events)
2020-01-01
Manta Network founded by Victor Ji, Kenny Li, and Shumo Chu under p0x Labs.
IQ.wiki / Crunchbase2021-02-01
Seed round of $1.1 million led by Polychain Capital; investors include Three Arrows Capital and Alameda Research.
The Block2023-07-19
p0x Labs raises $25 million Series A led by Polychain Capital and Qiming Venture Partners; p0x Labs valued at $500 million.
CoinDesk / TechCrunch2024-01-05
Manta Network announces first MANTA airdrop, distributing 5% of total supply to early adopters.
CoinMarketCap2024-01-16
Manta Pacific ranks as the fourth-largest scaling solution by TVL on L2Beat, surpassing Base.
CoinDesk2024-01-18
MANTA token generation event and simultaneous listings on Binance, Bithumb, and KuCoin. Concurrent DDoS attack sends 135 million fake RPC requests; Bithumb listing triggers alleged insider token dumping allegations involving approximately $5.16 million in ETH proceeds.
CoinDesk / CryptoPotato / Blockworks2024-03-12
MANTA reaches all-time high of approximately $4.05. Manta Pacific TVL peaks at approximately $684 million.
CoinGecko / Messari2024-04-18
Approximately 21.67 million MANTA tokens (~$44 million) unlock in a cliff event, adding significant supply pressure.
FXStreet2024-09-30
Manta Pacific TVL falls 95% from peak to approximately $36 million, following conclusion of the New Paradigm yield program.
Messari — State of Manta Q3 20242025-01-01
Manta Network announces deprecation of Manta Atlantic, scheduled for August 1, 2026 upon expiration of Polkadot parachain slot.
Manta Network on X2025-04-17
Co-founder Kenny Li discloses he was targeted in a Zoom deepfake phishing attack attributed to North Korea's Lazarus Group; no compromise reported.
Decrypt / Cointelegraph2025-08-01
Manta Network loans 7.5 million MANTA tokens to market maker Wintermute to support exchange liquidity.
Manta Network Medium2026-08-01
Manta Atlantic scheduled for deprecation upon Polkadot parachain slot expiration.
Manta Network on XDecision Log
- hash: KrVLaaP6TwWqcQufDeSPfKiQ6xapY578CkEJPncMgfh
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-code-investigator
generated: 5/14/2026, 4:35:33 AM
last updated: 5/14/2026, 4:35:39 AM
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