Manta Network Invests in Cross-Chain Liquidity Solution, Cycle Network
CryptoNewsTerminal Staff04 Sep, 2024
Manta Network Invests in Cross-Chain Liquidity Solution, Cycle Network
Manta Network (MANTA), a privacy-preserving layer-1 blockchain protocol, has announced a strategic investment in Cycle Network, a cross-chain liquidity network. The investment is part of Manta Network's $50 million ecosystem fund. Cycle Network is a decentralized liquidity protocol that enables cross-chain asset swaps between different blockchains. The network uses a unique algorithm to optimize liquidity and minimize slippage for traders. The investment in Cycle Network is part of Manta Network's broader strategy to build a comprehensive ecosystem of privacy-focused applications and services. Manta Network believes that Cycle Network's cross-chain liquidity solution will be essential for the development of a thriving privacy-preserving DeFi ecosystem. "We are excited to partner with Cycle Network and support their mission of making cross-chain liquidity more efficient and accessible," said Manta Network CEO, Henri Pihkala. "We believe that Cycle Network's technology has the potential to revolutionize the way that users interact with DeFi applications."
