The first Binance pool project to be launched in 2024, Binance investment, modularization, L1/L2, zk, etc., has a star halo since its birth, and has been listed as a promising project by many investment institutions, KOLs, etc. These are the views that manta brought to everyone when it was first released, but why did it fall from heaven to hell just 4 months later? Now everyone talks about manta without exception, it is a scam, garbage, worse than a local dog and other similar labels, then let’s take a look at manta’s "five sins".
1. Three changes of ownership
Manta started out as a slot auction project of TRON, then started to develop its own L1, and now it is a modular L2 project. The constant change of direction has resulted in unclear development goals. It feels like we only focus on whichever track is hot in the market, and we have lost our core competitiveness.
2. Airdrop Mission
Like many L2 projects, Manta also has the task of staking ETH and locking up to get airdrop rewards, but friends who have played it must know that if you don’t synthesize the golden NFT, the airdrop you can get can only be described as "pig trotter rice", and you have to endure the passive lock-up of ETH for 3 months.
3. Misappropriation of assets and inability to withdraw cash
After the ETH airdrop task pledge was completed, the official could not unlock ETH, and many users were stuck here, causing severe criticism from the community. Finally, the co-founder published an article on dis, saying that the user's ETH was in lido and could not be decompressed on time. As soon as the statement came out, the coin price collapsed instantly, and TVL plummeted 50% in three days.
4. NFT does not burn or airdrop
Manta later launched a system where users could get NFTs by staking mantas, and then use NFTs to burn tokens from 11 other project parties. However, the official did not initially say that users had to burn NFTs to get tokens, and only announced this rule at the last minute. As a result, most users did not receive any rewards after staking. The community was very disappointed and the coin price continued to fall.
5. No airdrop for L0 points
After Manta officially announced its cooperation with L0, as long as you pledge your assets on L0, you can get L0 points. However, after the pledge ended, L0 officials did not give any points to Manta pledgers. This is also the ultimate reason for Manta’s recent rapid collapse, and the official has not given any positive response to this.
It can be seen that the manta project has been fooling investors again and again, and does not take the community seriously at all, causing the price of the currency to collapse rapidly in tvl. Regardless of whether the market has adjusted or not, manta has always fallen. This is the most direct expression of the community to the project. Once the community collapses, the project will die.
I hope the manta project team can work steadily and stop deceiving investors, otherwise the result will be certain death.
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