The press service of Manta Network has published an important announcement on its page on the social network X (formerly known as Twitter). The protocol developers have announced that on January 18, 2024, the company reserved a total of 3 million MANTA out of the total 50 million unlocked assets from the Ecosystem Fund. This step was taken to expand the Manta Network ecosystem in South Korea. Two million MANTA tokens were transferred to the Bithumb trading platform to ensure liquidity. In this way, they refuted the accusations made against them.
Company representatives confirmed that these funds will be used for investments and the development of the Manta Network community in South Korea. Specialists emphasized that their goal is to increase the protocol's presence in this region by supporting local developers and the community. Additionally, funding for subsidiary companies in several key locations for startups, including Korea and Hong Kong, is planned.
Previously known cryptocurrency market analyst and researcher, Colin Wu, expressed doubts from the South Korean community regarding whether the new project Binance Launchpool MANTA is fraudulent. There were suspicions that the startup team may engage in price manipulation or money laundering. Claims appeared on Twitter that Manta Korea BD Sumeley "sold" 2 million MANTA tokens just 5 minutes after listing on Binance and converted them into 2094.7 ETH. Afterward, the assets were transferred to a personal wallet.
Manta Network also provides the opportunity to create and manage decentralized financial applications (DeFi), including exchanges, credit pools, and other financial instruments. The company is focused on providing a secure and confidential environment for blockchain operations.
