The zero-knowledge proof-powered layer 2 blockchain, Manta Network, encountered widespread distributed denial-of-service (DDoS) attacks during its successful token listing on multiple exchanges. The incident has been resolved, according to Kenny Li, co-founder of P0xeidon Labs, the crypto development team behind Manta Network. Li assured that the blockchain's nodes experienced over 135 million remote procedure call (RPC) requests on January 18, emphasizing the safety of blockchain operations and funds. However, he mentioned that communication between applications and the blockchain is currently severely limited. Li expressed gratitude for the community's support and reassured that they are committed to the project.
On the same day, Manta tokens started trading on various exchanges, including Binance, Bithumb, and KuCoin. At the time of reporting, the Manta token is valued at $2.27, indicating a fully diluted market cap of $2.27 billion. In the initial hours of trading, Manta reached a valuation of over $686 million. Manta Pacific's total value locked (TVL) surged 70 times in the last quarter, now totaling $858 million, as per a spokesperson from Manta Network. A recent announcement revealed an airdrop equivalent to 5% of Manta's total supply, valued at $114 million at the time of the announcement.
In a previous report on July 19, 2023, it was mentioned that P0xeidon Labs, the company behind Manta Network, successfully raised $25 million in Series A funding. The team also launched a testnet for its layer 2 infrastructure, Manta Pacific, which transitioned to the mainnet on September 12, 2023. The testnet, initiated in July 2023, saw the creation of 150,000 wallets and over 3.5 million transactions.
Furthermore, Manta Atlantic's flagship platform for non-fungible token private placement issuance debuted in April 2023. Since then, it has minted over 300,000 zero-knowledge tokens in collaboration with key ecosystem partners like Arbitrum, Galxe, Linea, and CyberConnect Soul-bound tokens.
