Manifold Finance rolls out an MEV auction protocol, names Frax founder and 0xMaki as advisors

Quick Take

  • Manifold Finance has rolled out a new MEV protocol to capture value for validators.
  • The protocol’s MEV auction system permits multiple winners per auction slot.

Manifold Finance has launched a new maximal extractable value (MEV) protocol. It introduces a new auction system that allows multiple winners for each auction slot, in contrast to the predominant “one winner per slot” model in the Ethereum ecosystem.

Manifold Finance says that the transition to this new auction system will lay the foundation necessary to support advanced applications related to priority-sensitive transactions and multi-slot bidding for block builders.

This new MEV protocol, Manifold Finance claims, can redefine how value is captured and distributed within the Ethereum network, with the focus on providing the most optimal MEV revenue for validators. It aims to compete with the prevalent MEV protocol offered by Flashbots.

MEV denotes the additional value that blockchain validators — those creating new blocks on the network — can acquire by manipulating the order of transactions within the blocks they produce. Entities called block builders on Ethereum capture the profits from MEV by determining the order of transactions and relaying it to Ethereum validators.

mevETH integration

A standout feature of the new protocol is its integration of mevETH, a novel liquid staking token (LST) launched last month. Manifold Finance serves as the infrastructure partner for mevETH.

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Manifold Finance confirmed that since August, the MEV Protocol’s mevETH has seen more than 28,000 ETH staked and has started receiving rewards. It also unveil