Binance, the largest cryptocurrency exchange by volume, has announced the introduction of a new altcoin, MANTA, which can be earned by staking. Given the past performance of Launchpad tokens, MANTA could become significant in the next bull market. Binance’s modular layer2 solution for ZK applications, Manta, will allow users to stake BNB or FDUSD in separate pools for two days starting from January 16, 2024, to earn MANTA tokens. The listing is expected on January 18, with initial trading pairs including MANTA/BTC, MANTA/USDT, MANTA/BNB, MANTA/FDUSD, and MANTA/TRY.
The maximum token supply for MANTA is set at 1 billion, with 30 million MANTA tokens (3% of the maximum supply) allocated for Launchpool rewards. The initial circulating supply will be 251 million MANTA, representing 25.1% of the maximum supply. The staking interface will be ready in approximately 5 hours, and 80% of the rewards will be distributed to those staking BNB. This announcement has briefly increased the price of BNB Coin by about $8, although the surge was not sustained.