In Brief:

• A total of 250,000 $LAB.m airdrops are planned for the top 200 depositors & borrowers of $MANTA on LayerBank 60 days later.

• Depositors & borrowers of $MANTA will automatically participate in LayerBank's existing $MANTA incentive point program.

• Users can earn quadra yields on $MANTA deposits and borrowings, including the base lending/borrowing APR, $LAB.m reward APR, $LAB.m airdrops, and $MANTA airdrops.

Manta Network has introduced the token economics of $MANTA, taking a step towards decentralization. As a governance token, $MANTA provides voting rights on decisions of the Manta Pacific and Manta Atlantic networks, and offers staking and revenue-sharing opportunities. It’s designed for the long-term benefit of holders, contributors, builders, and users.

Strategic collaboration between LayerBank and Manta Network: $MANTA Market Listing

As a principal builder in the MantaPacific network, LayerBank is set to enhance decentralization and add value to the $MANTA token. Through this, users can use $MANTA as a liquidity and collateral asset on LayerBank, which will improve the capital efficiency of the entire MantaPacific ecosystem and facilitate on-chain activities.

Initial $MANTA market parameters:

• Abbreviation: MANTA

• Token contract 0x95CeF13441Be50d20cA4558CC0a27B601aC544E5

• Chain: Manta Pacific

• Max LTV: 30%

• Supply Cap: 1,000,000

• Borrow Cap: 300,000

Therefore, to celebrate this significant milestone, LayerBank will airdrop a total of 250,000 LAB.m to users depositing $MANTA into LayerBank.

250,000 LAB.m airdrop overview:

• Total airdrop distribution: 250,000 LAB.m (0.25% of total supply)

• Top 200 point earners among Manta depositors & borrowers

• Final snapshot date: March 18

The $MANTA token will be integrated into LayerBank's current ongoing $MANTA incentive program upon listing. This means that users of the $MANTA pool will have the opportunity to receive not only the $LAB.m airdrop but also future $MANTA airdrops.

Depositors and borrowers of $MANTA through LayerBank will have the opportunity to generate quadra yields through the base lending/borrowing APR of $MANTA, $LAB.m reward APR, $MANTA airdrop, and $LAB.m airdrop.

Start here 👇

Additional Notes

• This $MANTA listing does not disadvantage LayerBank's STONE / wUSDM depositors. Users who have deposited assets in LayerBank will receive future $MANTA airdrops based on points.

• The allocation of $MANTA has not yet been determined, and all grants, including NewParadigm, will be sequentially distributed to LayerBank. LayerBank plans to distribute this based on points to the community.

About LayerBank

LayerBank is a lending protocol designed to serve as the liquidity hub for all EVM rollups, offering a universal, permissionless banking solution across the OmniChain ecosystem.