Key takeaways:
- As the privacy layer for Polkadot, the Manta team is pushing for greater blockhain security and safety
- Manta’s multi-faceted projects lay the ground for Polkadot’s DeFi future
- aUSD could become an essential building block of the Web3 future
aUSD ecosystem fund will expand security across Polkadot parachains
Manta Network and several other Polkadot parachain teams, seven to be exact, have partnered to launch a $250 million aUSD Ecosystem Fund. The objective is to grow Polkadot’s leading stablecoin Acala USD. The participating projects are aiming to advance security capabilities of the Polkadot network and provide backing for new and existing companies in the cryptocurrency industry.
Ultimately, the goal is to build applications with strong stablecoin use cases on Polkadot or Kusama parachains. Manta Network co-founder Kenny Li commented on Polkadot’s interoperability and its role for the growing blockchain ecosystem:
“We’re excited to be supporting the aUSD Ecosystem Fund and look forward to integrating privacy into the emerging use cases and projects coming out of it. With Polkadot’s native interoperability, every new idea launching in the ecosystem is another value add to all parachains.”
Manta is a multi-faceted company that uses zk-SNARK coding to ensure completely anonymous use. zk-SNARK simply allows one person to prove they possess specific information without revealing exactly what that information is. Two major projects the company was responsible for are MantaPay and MantaSwap. The former, MantaPay, is a decentralized anonymous payment structure and the latter MantaSwap, is a decentralized anonymous exchange structure.
Fund participants are seeking Solidity to help write smart contracts, and Substrate-based applications to build customized blockchains in order to drive utility for aUSD. These utilities will provide uses for asset management, DAOs, derivatives, DEXes, and payments, to name a few. All projects working collectively will strengthen aUSD growth and contribute to a better Polkadot ecosystem.
The Polkadot Ecosystem
Polkadot is a network that enables high-speed transfers of data, tokens, or any other kind of blockchain information. Polkadot facilitates the user’s ability to interface with multiple blockchains. A shared security model allows any parachain to make use of plug-and-play security along with cross-chain functionality. Polkadot parachain teams are actively working on turning cross-chain ideas into a reality to make use of the high degree of interoperability of the Polkadot network.
Vision and Projects of Tomorrow
Here is a list and brief description of Polkadot projects that are making cross-chain future a reality:
- Acala provides a financial layer for the aUSD ecosystem fund
- Astar launched a hub for WASM and EVM
- Centrifuge specializes in asset financing
- HydraDX has a world-class DEX chain
- Moonbeam provides Ethereum-friendly based platform
- OriginTrail has a decentralized knowledge graph
- Parallel is working on a platform with multi-chain DeFi products
- Zeitgeist is launching a parachain to predict market behavior
Close collaboration between different teams will allow the Polkadot network to emerge as one of the leading DeFi platforms in the future.
aUSD Ecosystem Fund’s core objective
Increased cross-chain activity and growth of aUSD will support major investments in the network, as teams continue to build Polkadot and Kusama ecosystems.
Manta Network’s end goal is to build a better Web 3.0 world with a heightened focus on privacy protection. Manta’s product design begins with innovative ideas that provide privacy protection from top to bottom for blockchain users. To ensure user safety and privacy, Manta makes use of high-performance interoperable blockchain products and services.
Manta’s founding team consists of cryptocurrency experts, with high academic pedigree and professional accolades.
