Manta Foundation Raises $50 Million to Empower Its Ecosystem

Manta Foundation Raises $50 Million to Empower Its Ecosystem

Manta Foundation, the protocol pioneering privacy for DeFi via zero-knowledge proofs, has successfully raised a substantial $50 million ecosystem fund to bolster the growth and adoption of its network. This fund, established on June 15, 2023, will play a pivotal role in driving the Manta ecosystem forward for the next year. Of the $50 million, a significant $35 million will be strategically invested in promising projects building on the Manta Network. These investments will serve as a catalyst for innovation, enabling developers to bring groundbreaking applications and solutions to the rapidly expanding Manta ecosystem. The remaining $15 million will be dedicated to supporting initiatives that foster a vibrant and engaged community. This includes organizing hackathons, providing grants to developers, and implementing educational programs to raise awareness about privacy-preserving technologies. By establishing this ecosystem fund, Manta Foundation underscores its unwavering commitment to fostering a thriving ecosystem around its privacy-focused protocol. This fund will serve as a cornerstone for the continued growth and adoption of Manta Network, empowering developers and projects to build innovative solutions that redefine the future of privacy in DeFi.