Manifold Finance x Eden Network
Teaming up to protect traders around the world
We’re excited to share that we’re collaborating with Eden Network!
After careful consideration and talks with many projects in the MEV space, Eden decided to partner up with us, and we’re proud to have their support.
Now the OpenMEV integration on SushiSwap is launched and live, we can finally start bringing protection to tons of users on their favorite dApp.
We look forward to working with Eden Network in the future with the goal of giving traders a better experience and protection in ‘the dark forest’. The Manifold team is currently testing the inclusion of Eden as one of the endpoints to send their transactions.
To reinforce the collaboration even further, both projects will be performing a $250,000 treasury token swap.
For the swap, the price calculation will be based on the 7 day TWAP from CMC values for both tokens:
- Manifold Finance (https://coinmarketcap.com/currencies/manifold-finance): $27.43
- Eden Network (https://coinmarketcap.com/currencies/eden-network/): $1.06
With the above calculation, Manifold Finance will be receiving 238,850 $EDEN tokens and sending 9115 $FOLD tokens.
Eden is a priority transaction network that protects traders from frontrunning, aligns incentives for block producers, and redistributes miner extractable value. When you submit transactions to Eden Network your trades are protected from malicious bots.
In technical terms, Eden Network is an optional, non-consensus breaking ordering protocol. The protocol creates a transparent and fair set of rules to order transactions within each block.
Eden Network takes a user-focused approach to the MEV problem, and includes stronger incentives for all stakeholders driven by a protocol token. It comprises a novel transaction ordering mechanism and a private relayer that any user, application, or bot can leverage in order to obtain state guarantees around submitted transactions.
The goals of the Eden Network are:
- Improve earnings for block producers and increase consensus-level security
- Protect users from malicious MEV (frontrunning, sandwich attacks, etc.) and reduce the negative externalities MEV has on Ethereum
- Tokenize MEV, and democratize access to it using network token incentives
For the Eden whitepaper, click here.
Manifold Finance provides solutions encompassing the middleware market for decentralized finance applications and protocols for both scaling and usability purposes. Part of our mission is helping scale the Ethereum ecosystem, which is where the idea of ‘middleware strategies’ comes into play.
Manifold Finance’s first solution, OpenMEV (formerly known as YCabal) is an aggregation strategy for scaling layer one using a mix of MEV and smart contract techniques to scale services like SushiSwap for end users.
OpenMEV guards traders against on-chain preditory arbitragers, and drastically decreases gas costs. In December 2021, OpenMEV was integrated on SushiSwap (where it’s called Sushi Relay). Sushi users get up to 90% rebates from their gas fees.
Our governance system allows participants to buy in to our technology and benefit from the strategies in a way they can generate passive yield, while also engaging with the governance process that drives these integrations.
You can now stake your $FOLD tokens for $xFOLD! For a guide to interact with the contract directly, head over to our forum: https://forums.manifoldfinance.com/t/guide-how-to-stake-fold-for-xfold/150
Still left with questions? Join us on Telegram — we’re happy to help you out!
To stay fully up-to-date, follow our official channels:
- Website: https://manifoldfinance.com
- Telegram: https://t.me/manifoldfinance
- Telegram Announcements: https://t.me/manifoldfi
- Discord: https://discord.gg/2JJTtDDVBj
- Discourse: https://forums.manifoldfinance.com
- Twitter: https://twitter.com/foldfinance
- Github: https://github.com/manifoldfinance
- Email: firstname.lastname@example.org