About

Manifold Finance is a platform that connects users to decentralized finance (DeFi) opportunities. It provides integration with popular DeFi protocols like Sushiswap and OlympusDAO, allowing users to leverage maximum extractable value (MEV) for their advantage. Manifold Finance also offers SecureRPC, an aggregated connection to various endpoints, and enables ETH2 Validators to access MEV profits. The platform operates with credible neutrality and aims to connect capital to the best opportunities in the DeFi space.

History

Manifold finance was founded in late 2020 by Sam Bacha, with the purpose of making DeFi more accessible. The first solution of manifold finance - OpenMEV (formerly known as YCabal) - was proposed for the first time on the Sushi forum in March 2021. With OpenMEV, Sushi Swap transactions are directed through a mechanism designed to extract arbitrage and MEV profit and distribute it to traders, miners, and FOLD token holders. Its goal is to protect traders from MEV exploits and to distribute MEV returns to the community. Later, Manifold Finance raised 2.5M $ from a group of investors and launched a token on Sushi Swap on the first of June 2021. On 14 December 2021 the integration of OpenMEV with Sushi Swap was accomplished and on 15 December 21, Manifold Finance launched the staking portal, and FOLD holders were able to stake FOLD and earn USDT and xSUSHI from the revenues of the strategy. Manifold finance and Sushi Swap are close to launching an upgraded version of the Sushi Swap router. This version will direct 100% of Sushi Swap volume through OpenMEV, instead of a percentage of the volume as of today. The upgraded router is expected to launch by the end of May 2022.