Manta Network Announced Cross-Chain Transfer Of Parachain Assets With Moonbeam’s Testnet
Manta Network, the privacy hub for web3, has announced the successful cross-chain transfer of parachain assets with Moonbeam’s testnet, Moonbase Alpha.
With these XCM tests successful, Manta Network and Moonbeam will be working towards integrating across their respective Kusama canary networks, Calamari and Moonriver.
XCM will allow the existence of Moonriver’s XC-20 assets as well as its native asset, $MOVR, on Calamari, which enables privacy transfers of those tokens. Calamari’s native token, $KMA, will also exist on Moonriver as an XC-20 asset to access additional functionality through various projects launched on Moonriver.
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. Like Moonriver, its sister parachain on Kusama, Moonbeam is expected to accumulate developer and user activity from the 80+ projects building DApps and protocols on the network. By working together, Manta and Calamari bring privacy to the projects building on top of Moonbeam and Moonriver, respectively.
Calamari will be integrating XCM with Moonriver to bridge assets across both parachains in production environments. Calamari Network’s parachain asset ($KMA) will be represented as an XC-20 asset within Moonriver, which will allow $KMA to interact within the Moonriver ecosystem, accessing various DeFi products for staking, lending and other use cases. Native asset transfers from Moonriver to Calamari Network can be privatized and transferred in a shielded manner from peer to peer.
About Moonbeam
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. As a parachain on the Polkadot network, Moonbeam will benefit from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot.
About Manta Network
Manta Network is committed to building a better Web3 world through privacy protection. Manta’s product design starts from first principles and provides end-to-end privacy protection for blockchain users through leading cryptography architectures such as zkSNARK. While ensuring privacy, Manta offers interoperability, convenience, high performance, and auditability, allowing users to conduct private transfers and transactions between any parallel chain of assets. Manta’s vision is to provide more convenient privacy protection services for the entire blockchain world.
