Coinspeaker
Manta Foundation Announces Strategic Investment in dappOS via Its $50M EcoFund
Manta Foundation, a fast-growing modular layer two (L2) working on the Manta network that has more than $564 million in total value locked and around 270 ecosystem projects, has announced a strategic investment in dappOS, an intent execution network backed by dozens of web3 investors led by Binance Labs and Polychain Capital.
According to the announcement, dappOS is a successful applicant in Manta Foundation’s inaugural $50 million EcoFund.
“We commend the dappOS team for their hard work and ambition thus far. Our investment aims to support their journey toward achieving greater success,” the Manta Foundation noted.
The Manta Foundation deliberately designed to invest in dappOS since it has been a crucial component in the success of the Manta Network. Notably, the Manta network has a total value locked of about $85 million and a stablecoins market cap of around $14.04 million.
Some of the decentralized financial (DeFi) protocols on the Manta nets include LayerBank lending, Quickswap V3, Uniswap V4, and Manta CeDeFi, among others.
The dappOS has helped the Manta Network in the past lower the barrier to onboarding new users through lower fees.
“The Manta Foundation looks forward to witnessing dappOS’s continued growth and leadership within the infrastructure ecosystem on Manta Pacific. We encourage the community to support dappOS in its mission to empower decentralized infrastructure and applications to be intent-centric,” the Manta Foundation added.
Market Implications of Manta Foundation’s Investments into dappOS
As of this writing, the Manta network ($MANTA) has a fully diluted valuation of about $979 million and a daily average traded volume of around $44 million. Following the further collaboration between Manta Foundation and dappOS, DeFi developers can seamlessly compete with other layer two networks on the Ethereum network ecosystem.
Amid the ongoing crypto awakening fueled by an anticipated listing of spot Ethereum ETFs in the United States, MANTA’s price has surged more than 32 percent in the past two weeks to trade around $1 on Friday.
The small-cap altcoin must form higher highs and higher lows on the weekly time frame to invalidate the ongoing bearish outlook that began earlier this year.
Bigger Picture
The development of decentralized financial platforms has been crucial in the mass adoption of digital assets. The recent failure of web2 projects that led to the global outage in the past 24 hours has signaled the importance of decentralized internet access.
Moreover, dappOS brings together top blockchains and web3 projects such as Arbitrum, Avalanche, Binance web3 wallet, Bitget Wallet, MakerDAO, QuickSwap, and OKX Wallet, among many others.
The mainstream adoption of digital assets and web3 protocols has attracted more institutional investors seeking to grow through the ongoing crypto bull market. Moreover, the poor monetary policies implemented by different global central banks have worsened major currency devaluations.
Manta Foundation Announces Strategic Investment in dappOS via Its $50M EcoFund
