Hi Kenny, welcome to our series “Behind the Startup.” Please tell us about yourself and the story behind Manta Network?Hi Ishan! It is a pleasure to be here. I’m Kenny, one of three co-founders of Manta Network, a protocol built for Web3 on-chain privacy. We’re building in the Polkadot ecosystem to start, and have a decentralized team of approximately twenty people around the world. I am a serial entrepreneur with a decade of experience in scaling startups.
Manta’s main premise is to issue private coins/tokens at a 1:1 minting value ratio with stable currencies and other base tokens on the contract. Besides that, the trade of these privacy tokens would be supported via a decentralized private swap platform. With this approach, our goal isn’t to design our own privacy token; in fact, our token is just a public token like most other cryptocurrencies. Instead, we are focused in designing the technology around privatizing other cryptocurrencies. This means that we can privatize assets like Polkadot, Bitcoin, and Manta. By using Manta Network, any token can become a privacy token–that’s the goal.
It’s worth emphasizing that, because the protocols are permissionless, any project can buy a parachain slot on the secondary market from anybody who won one in an auction.What is Manta community’s goal behind coming up with the Squid Game? Can you give us a detailed description of the event?Manta Network had raised $28.8 million in funding after selling 80 million $MANTA utility tokens during Tokensoft’s Squad Game token generation event.