Starting in 2022 by launching on Dogechain, QuickSwap began its multichain journey and started entering new territory on different networks within the Polygon ecosystem. Fast-forward to 2023 and QuickSwap has been deployed on Polygon zkEVM and is on its way to launching on Astar zkEVM.
These are indeed exciting times for the QuickSwap DEX, as the newly released roadmap outlined further plans for chain expansion in the near future. And now the saga continues as Manta Network steps into the spotlight as the next proposed chain to add to the mix.
Manta Pacific, the Layer 2 component within Manta Network, is the first scalable and secure EVM-equivalent ZK-application platform through Celestia DA and Polygon zkEVM, leveraging powerful Polygon tech to offer an unparalleled user experience. It is transitioning from OP Stack to Polygon zkEVM using Polygon CDK, a massive step forward.
This proposal is for the dragon community to discuss and vote on whether QuickSwap should launch on Manta Network (Manta Pacific - the Layer 2 ecosystem), adding yet another powerful Polygon-powered blockchain to its repertoire.
- QuickSwap continues to explore deploying on new blockchains with the Polygon ecosystem
- Manta Pacific (the Layer 2 component within Manta Network) provides a powerful, scalable, and secure ZK tech built on Polygon that offers inexpensive gas fees and a robust ecosystem. It’s transitioning from OP Stack to Polygon zkEVM by using Polygon CDK to offer stronger network security and scalability
- With this governance proposal, the dragon community needs to decide if QuickSwap should launch on Manta Network (Manta Pacific)
- Liquidity incentives, a grant, and other rewards will be provided by Manta Network
- To begin, the governance discussion on the official QuickSwap Discord & Reddit will run until Wednesday, October 25 at 11:00 PM UTC. This will be an expedited discussion and vote, because we want a chance for our community to qualify for the full amount of their first round of liquidity mining rewards which start at the end of this month. They’ll release more details about this publicly soon.
- Once the Discord & Reddit discussions finish, a formal Snapshot vote will begin and run from Wednesday, October 25 at 11:00 PM UTC until Friday, October 27 at 11:00 PM UTC
- Once you’ve read this entire blog post, make sure to visit the official QuickSwap Discord server & Reddit discussion forum to share your perspective with your fellow community members
What is Manta Network (Manta Pacific)?
Manta Pacific is the modular Layer-2 ecosystem for EVM-native ZK applications and dApps that wants to deliver the lowest cost and best experience for users. The chain was created by a team of experienced founders from prestigious institutions, including Harvard, MIT, and Algorand.
Manta Network has received investments from many of the top Web3 investment funds, including Binance Labs and Polychain Capital. Their main goal is to onboard more users and spur activity in the Web3 space with next-generation ZK applications.
With 350,000+ active addresses, $12.5+ million in TVL (in just the last month since launching with OP. To be clear, they’re going to be transitioning from OP to ZKEVM now since Polygon came out with CDK just recently), $16.3+ million on-chain transactions, and 127 ecosystem projects, the network and infrastructure are gaining tremendous momentum and adoption. They also have a huge presence in many Asian countries which could help bring those countries more into the Polygon ecosystem.
Chain Deployment, Liquidity Incentives, and More
If QuickSwap were to launch on Manta Pacific, the dragon community would be able to use all of their favorite DeFi features directly on the chain, including swapping, LPing, and farming.
Manta Network will be providing rewards, liquidity, and token incentives for QuickSwap - they have asked to keep this information private for now. As with many chains and partners, because they’re working with other projects, they don’t want everyone to know how much they’re giving the QuickSwap community as it could affect other negotiations with projects. The Foundation can confirm (without breaking NDA) that these rewards are significant, and that the Foundation believes this is a worthwhile launch for the community.
As we’ve noted before, oftentimes, businesses and even projects operate in a way where publicly disclosing all details of a deal is not acceptable and could harm their growth. We have to respect the Manta team's wishes and limit the information we can share publicly. The community will find out the information over time as Manta publicly releases it.
For example, part of the reason for launching on Manta Network is that they’ll be doing a large airdrop, and projects that participate will be able to compete for those tokens. The Manta team has raised $75 million at a $500 million valuation and thus have a strong war chest. This could potentially lead to a significantly sized airdrop and incentives to the projects and community members who participate. QuickSwap will be able to compete for these rewards and will have a slight edge in that the Manta team will be supporting QuickSwap’s growth heavily on the chain as they believe in what we’re doing, including QuickSwap’s security and strong position in the Polygon ecosystem. Polygon is also committed to supporting this partnership.
Where the Sky Meets the Sea: Will Dragons and Mantas Unite?
QuickSwap adding Manta Network as a new chain would mark a huge step forward for both ecosystems. The dragon community would be able to tap into newfound liquidity and features offered by Manta Pacific’s powerful and next-gen infrastructure, while the Manta community would get instant access to not only QuickSwap’s powerful DEX but also its all-encompassing DeFi product suite, and one of the largest communities in the entire industry.
Plus it means more users, on-chain liquidity, and overall activity - a win-win for both.
Now that you’ve read through the blog, start discussing this proposal within the dragon community.
Join the Discussion
As always, QuickSwap community members are encouraged to participate in and contribute to QuickSwap governance discussions and proposals across all of QuickSwap’s online forums, especially on Discord & Reddit. As a Dragon, you are a valued community member and your opinion matters – but you have to participate in community voting procedures to make it count.
As always, critical decisions guiding QuickSwap’s strategic development will always be determined by way of decentralised governance. QuickSwap’s future is in your hands, so make your voice heard!