Introducing OpenMEV
Goodbye YCabal and a very warm welcome to OpenMEV
To our community, we’re writing this update to inform you of our decision to rename YCabal to OpenMEV. The reason we have decided to do so is that we strongly believe that the name OpenMEV is a better reflection of the scope and the capabilities being implemented by the Manifold Project.
The new name also represents the fact that the solution set we are building does involve a multi-chain aspect and also makes it directly easier to understand what the solution is all about.
For those of you who may be unaware of what OpenMEV (formerly YCabal) is…
OpenMEV enables protocols and applications to recapture ‘miner extracted value’ profits. It maintains economic incentives to create a healthy ecosystem and community for all.
If you’re interested to learn more about exactly how, check out the OpenMEV website.
SushiSwap Integration
OpenMEV is already integrated with SushiSwap. Traders are compensated when their trade is processed and within 35 blocks, refunded to them. Protocols can set their compensation rate, creating a distributed market of constant feedback driven by protocol adoption.
New to Manifold Finance? Here’s a refresher on how it all works.
OpenMEV
Whenever you submit a trade on SushiSwap, if your trade is eligible for getting its transaction cost refunded, you will get a notification if it is eligible for a rebate. If your trade is not eligible, it will be immediately submitted through a private RPC layer: you still benefit from a protected trade submission. You won’t get a transaction rebate. If your trade is eligible for a transaction cost rebate, you should get a rebate of 90%.
If you have any questions about the name change, join us in the Telegram community and we’d be happy to help.
To stay fully up-to-date, follow our official channels and join our community!
- Website: https://manifoldfinance.com
- Telegram: https://t.me/manifoldfinance
- Telegram Announcements: https://t.me/manifoldfi
- Discord: https://discord.gg/2JJTtDDVBj
- Twitter: https://twitter.com/foldfinance
- Github: https://github.com/manifoldfinance
- Email: ops@manifoldfinance.com
