Overview
P0x Labs, the development team behind Manta Network, has achieved a $500 million valuation** after closing a **$25 million Series A round. The privacy-focused protocol leverages zero-knowledge proofs (ZKPs) to enhance blockchain transparency while preserving user anonymity—a critical solution in decentralized finance (DeFi).
Key Highlights
Funding & Investors
Lead Investors:
- Polychain Capital (crypto-focused)
- Qiming Venture Partners (backers of imToken, InfStones)
Other Participants:
- Alliance, CoinFund, SevenX Ventures
- Previous funding from Binance Labs
👉 Explore how zero-knowledge proofs revolutionize privacy
Technology Stack
Manta Network utilizes zero-knowledge proofs (ZKPs) to enable:
- Anonymous DeFi transactions (no wallet/transaction details exposed)
- Secure "soulbound tokens" (non-transferrable, identity-linked assets)
"ZKP is becoming essential for embedding trust/privacy in web3 protocols."
—Yi Tang, Qiming Venture Partners
Growth Metrics
- 300,000+ zkSBTs minted (for identity/property management)
- 200,000+ installs of Manta Wallet
- 1.5M+ users across integrated dApps (ReadOn, Dmail, AsMatch)
Future Roadmap
Scaling Manta Pacific (L2 for ZK apps):
- Supports private gaming (e.g., zkHoldEm)
- Verified credentials via zkMe
- Asia market expansion
Founders
Founded in 2020 by:
- Victor Ji (ex-CPA)
- Shumo Chu
- Kenny Li
FAQ
Q: How do zero-knowledge proofs work?
A: ZKPs allow verification without revealing underlying data—ideal for private DeFi transactions.
Q: What are soulbound tokens?
A: Non-transferrable tokens tied to identities (e.g., for property/ID verification).
Q: Why invest in Manta?
A: Strong team in cryptography + execution; ZKP adoption is rising.
👉 Learn why privacy protocols matter in web3
Rita Liao covers Asia/web3 for TechCrunch. Contact: [email protected].
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