Will Bonk’s Meme Power Boost Manta Network Adoption?

Manta Network, a Layer 2 modular blockchain platform, has joined forces with Solana’s meme coin project Bonk (BONK) in a unique collaboration aimed at boosting user engagement through a meme-driven campaign on Manta Pacific.

The partnership, announced on July 11, 2024, leverages Bonk’s established community and Manta’s focus on user experience. By integrating Bonk’s expertise in community building, Manta hopes to make its onboarding process more accessible and engaging for new users.

Rewarding Dual Citizenship and Active Participation

At the heart of the collaboration lie two key programs: “Dual Citizenship” and “Active Participant Rewards.” These initiatives incentivize participation and commitment from both communities.

Dual Citizenship rewards users who actively engage with both the BONK and Manta communities. To qualify, participants need to have at least 1 million BONK tokens staked and hold any amount of ETH or MANTA tokens in a Manta Pacific wallet. A pool of 690,000 MANTA tokens is allocated for these “dual citizens,” with rewards determined by the duration of BONK token staking – longer staking periods lead to higher payouts.

The Active Participant Rewards program targets BONK enthusiasts who actively engage in various on-chain activities within the Manta Pacific ecosystem. This includes trading on the Gull Network, playing games developed by Elfin Games, and participating in launches of new meme coins.

Manta Pacific: A Platform for Scalable DeFi

Manta Pacific serves as the foundation for this collaboration. This modular L2 ecosystem, built by Manta Network, is designed for EVM-native zero-knowledge applications. By leveraging Manta’s Universal Circuits and integrating Celestia’s data availability solutions, Manta Pacific aims to provide an optimized environment for these applications. This translates to reduced gas fees and a smoother user experience for DeFi activities.

The Road Ahead: Potential Price Surge and Ecosystem Growth

The partnership programs officially began on July 10, 2024, with a 30-day window for participants to verify their eligibility for the MANTA rewards. This collaboration follows the recent establishment of a $50 million ecosystem fund by the Manta Foundation. This fund offers financial support to projects exploring the expanding web3 space within the Manta Network.

While the price of MANTA hasn’t shown a significant surge following the partnership announcement, analysts anticipate a potential boost in the near future, with some projecting a price target of $10. The coming weeks will be crucial to observe how this meme-driven campaign translates into user growth and adoption for both Manta Network and the Bonk community.