The MEV (Miner Extractable Value) market has a new entrant! Manifold Finance launches mevETH, a new MEV protocol designed to bring more benefits to Ethereum stakers. 🎉
It is reported that Manifold Finance has cooperated with Cream Finance to launch mevETH. Unlike the existing Flashbots MEV Boost system, mevETH has introduced a new MEV auction system that supports multiple winners per time period instead of just one winner. According to the team, this protocol adopts a vertically integrated approach that fully utilizes the potential of relayers, block proposers, and block builders to enhance the MEV supply chain.
By minting mevETH with ETH, users can gain additional benefits from multiple MEV strategies powered by the stack. Initially, the protocol will generate revenue through arbitrage of the price difference between ETH and mevETH. Additionally, since they will be running their own validators, they will also be able to create custom blocks and ensure those blocks are included on-chain.
Currently, mevETH on the MEV protocol has been staked for over 28,000 ETH and has started to receive rewards. The team has also launched a streamlined process whereby users can now deposit ETH and mint mevETH directly on the website.
This new auction system will provide a solid foundation to support more advanced applications, including forward markets for handling priority-sensitive transactions, multi-period bidding for block builders, and renewed support for ERC-20 tokens. Additionally, the protocol plans to support new lending protocols and integrate with DeFi platforms such as Yearn.
LSD combined with MEV can bring more real benefits to users. The "non-predatory MEV" emphasized by Manifold Finance may promote the marketization and fairness of the MEV market and better allocate block users, validators and search interests of the three parties.
So, what do you think of mevETH? Welcome to share your opinions in the comment area! 😉
It is reported that Manifold Finance has cooperated with Cream Finance to launch mevETH. Unlike the existing Flashbots MEV Boost system, mevETH has introduced a new MEV auction system that supports multiple winners per time period instead of just one winner. According to the team, this protocol adopts a vertically integrated approach that fully utilizes the potential of relayers, block proposers, and block builders to enhance the MEV supply chain.
By minting mevETH with ETH, users can gain additional benefits from multiple MEV strategies powered by the stack. Initially, the protocol will generate revenue through arbitrage of the price difference between ETH and mevETH. Additionally, since they will be running their own validators, they will also be able to create custom blocks and ensure those blocks are included on-chain.
Currently, mevETH on the MEV protocol has been staked for over 28,000 ETH and has started to receive rewards. The team has also launched a streamlined process whereby users can now deposit ETH and mint mevETH directly on the website.
This new auction system will provide a solid foundation to support more advanced applications, including forward markets for handling priority-sensitive transactions, multi-period bidding for block builders, and renewed support for ERC-20 tokens. Additionally, the protocol plans to support new lending protocols and integrate with DeFi platforms such as Yearn.
LSD combined with MEV can bring more real benefits to users. The "non-predatory MEV" emphasized by Manifold Finance may promote the marketization and fairness of the MEV market and better allocate block users, validators and search interests of the three parties.
So, what do you think of mevETH? Welcome to share your opinions in the comment area! 😉