Manifold Finance has launched a pioneering MEV protocol, featuring a novel auction mechanism that deviates from the prevalent “one victor per slot” model within the Ethereum ecosystem.
They envision this shift opening doors to advanced applications, including high-priority transactions and multi-slot bidding for block architects.
The fresh MEV protocol from it aims to transform how value is acquired and distributed in the Ethereum network. Its primary goal is to maximize MEV revenue for validators, rivaling Flashbots’ prevalent MEV protocol.
In this context, MEV represents additional value that blockchain validators generate by manipulating transaction order within the blocks they create. These validators, referred to as block architects in the Ethereum network, profit by orchestrating transactions and liaising with Ethereum validators.
Revolutionizing MEV with mevETH Integration and Expert Advisors
Notably, the innovative protocol integrates mevETH, a new liquid staking token (LST) introduced last month. Manifold Finance serves as the infrastructural partner for mevETH.
Manifold Finance has confirmed that starting in August, mevETH under the MEV Protocol has garnered over 28,000 ETH in staking and started earning rewards. Furthermore, the project offers a streamlined process for users to deposit ETH and create mevETH on its platform.
Leo Cheng, co-founder of Cream Finance, leads this endeavor, while Sam Bacha, founder of Manifold Finance and formerly recognized for contributions to Yearn Finance, serves as the chief architect.
This undertaking has also enlisted prominent figures from the Ethereum community as advisors, including Sam Kazemian, founder of Frax, and 0xMaki.