Title: Manta’s Strategic Moves in the Crypto Market: A Detailed Analysis
Author: Riyuexiaochu
Source: X
Bottom Line: Project team misses out on the opportunity to sell 25 million Manta tokens, leading to disappointment and frustration. Meanwhile, the community demonstrates its strength, as a significant amount of tokens remain in wallets, indicating optimism for the future.
Introduction:
The Manta project has recently faced some setbacks as the project team failed to capitalize on the market conditions and sell 25 million Manta tokens. This unfortunate turn of events led to disappointment, with some team members reportedly crying in the restroom. On the other hand, the unlocking of 50 million tokens from the ecosystem fund has provided liquidity to major exchanges. However, it is worth noting that approximately 25.8 million Manta tokens were transferred through multiple wallets and secretly deposited into Binance exchange on the 20th of this month, causing the project team to miss out on nearly 50% of the average price of $2.3 per token. The community, however, remains resilient and determined, proving that their power should not be underestimated.
Token Economics:
According to the official whitepaper, the total supply of Manta tokens is 1 billion. The distribution plan is as follows:
– Ecosystem: 21.9%
– Foundation Treasury: 13.5%
– Team: 10%
– Public Sale: 8%
– Strategic Investments: 6.17%
– Institutional Investors: 5%
– Airdrop: 5.60%
– Advisors: 8.1%
– Binance Launchpool: 3%
– New Paradigm (Airdrop 2): 6.5%
The initial circulation is 25.1%, which includes the Airdrop (5.6%), New Paradigm (Airdrop 2) (5%), Ecosystem (5%), Advisors (2.5%), Public Sale (4%), and Binance Launchpool (3%).
Currently, there are approximately 100 million Manta tokens on major exchanges, with a total of 146 million tokens from airdrops and public sales. Additionally, around 40 million tokens have been deposited into exchanges. The significant number of tokens remaining in wallets indicates the community’s optimistic outlook for the future.
Initial Distribution Wallets:
During the genesis distribution, the project team transferred tokens to five wallets with the following allocations:
1. Binance Launchpool: 3%
2. Ecosystem Community: 21.19%
3. Airdrop: 12.1% (including New Paradigm and Airdrop 2)
4. Investors: 32.1%, including 12.94% for private investments, 8% for public investments, 6.17% for strategic investments, and 5% for institutional investments.
5. Remaining: 31.6%, including 13.5% for the foundation, 8.1% for advisors, and 10% for the team.
It is worth noting that the team’s and foundation’s allocations, which account for 23.5% of the total supply, remain locked and unchanged. Advisors’ tokens have been unlocked but have not been moved to other addresses.
Investors’ Wallet:
Investors hold a total of 321 million Manta tokens, with 80 million tokens from public investments. Half of these public investment tokens, totaling 40 million, have been unlocked, while the remaining 40 million tokens are held in one address. Tokens of other investors are also stored in a separate address known as the holding address 1.
Since the unlocked 40 million Manta tokens are on the Polkadot network, they need to be transferred to the Pacific network through Celer’s cross-chain bridge. According to on-chain data, the official Celer cross-chain bridge holds 25 million Manta tokens for liquidity purposes. As a result, 15 million tokens have successfully crossed over to the Pacific network, while the remaining 25 million tokens still reside on the Polkadot network. This indicates that public investors have a positive outlook on Manta’s future.
Airdrop Analysis:
According to the whitepaper, the total airdrop allocation is 12.1%, with 10.6% (106 million tokens) unlocked during the Token Generation Event (TGE). The project team distributed approximately 103 million tokens to various airdrop addresses. However, our analysis shows that around 30 million tokens remain unclaimed.
Ecosystem/Community Tokens:
The ecosystem and community tokens total 211.9 million, with an initial circulation of 50 million tokens. Among these tokens, 50 million Manta tokens were transferred to the address 0x8b589Ec5eF3570B84AaaeED02d544751071059Ef for further processing. This transfer can be divided into two main categories:
1) A portion was transferred to exchanges to provide liquidity since Manta is listed on multiple exchanges. The number of tokens on each exchange varies, ranging from 200,000 to 800,000. Notably, Binance holds 3.5 million tokens.
2) 38.64 million tokens were transferred to the address 0x6aEDC8C2c8c61A3A34C23520001489B843A10555. This address further divided the tokens into two groups: one group was distributed in increments of 200, and the other group was distributed in increments of 300,000 and 500,000 to different addresses. One transaction involved 1 million tokens, and eventually, a total of 25.8 million tokens were deposited into Binance exchange.
Conclusion:
Despite the project team missing out on selling 25 million Manta tokens, the community’s support and optimism remain strong. The distribution of tokens to major exchanges, coupled with the significant number of tokens held in wallets, indicates a positive outlook for Manta’s future. As the project progresses, it will be interesting to see how the token economics evolve and how the Manta ecosystem flourishes in the crypto market.
[Image: Manta Token Distribution Chart]
