Manifold announces one-off LP Beta Program

Exclusively for early adopters

Manifold Finance

Published in

Manifold Finance

4 min readJun 9, 2021

We’re thrilled to announce something truly unique in this industry…

Welcome to Manifold’s one-of-a-kind staking program!

Introducing Manifold’s LP Beta Rewards Program

“So, why is Manifold so unique?”

All projects are not created equally…

Manifold was designed to solve a major issue that is impacting the whole ecosystem right now, and it will be effective immediately. Our strategies, such as YCabal, are designed to save you (the consumer) wasted fees while creating revenue in the process. As a liquidity provider, you’ll earn passive yield from fees generated by the YCabal strategy.

However, in this Beta stage, we are going to incentivize our community by sharing some of these revenues. Also, unlike standard native token staking, where you would earn more native tokens, you’ll actually receive revenue share in USDC (90%) and XSushi (10%).

“When and how can I start providing liquidity?”

Our Manifold LP Beta Rewards Program starts June 16th at 12 PM UTC. It will run for about a month and close July 20th, at 12 PM UTC.

Simple LP Guide:

Step 1

Head over to Manifold’s liquidity pool on Sushi.

Step 2

In order to participate in Manifold’s LP Beta Program, you need to add both $FOLD and $ETH to our liquidity pool. Always make sure you entered the correct contract address for $FOLD

0xd084944d3c05cd115c09d072b9f44ba3e0e45921

Step 3

We will do an on-chain snapshot to confirm your participation.

Step 4

You receive a portion of the revenue generated by YCabal over all the transactions on Sushi.com where it is used. This will be rewarded in $USDC (90%) and $XSushi (10%).

Our program is inspired by Oiler — click here to find more about their setup.

How are the rewards structured?

Based on the amount of time you’re in
Based on the % of ownership of the pool

Extraction Power = (LP tokens you want to stake) * (blocks you stake ^ 2)

After this phase, we’re going to start deploying more strategies. We’re actively working on multiple ones that will provide all kinds of really exciting benefits to Governance token holders.

“Liquidity provider?”

Okay, let’s get back to basic for the people who are not familiar with LP:

For people who would rather watch a video instead of reading a bunch of text, watch this excellent explanation of liquidity pools by our friend BoxMining!

Liquidity pools are a fundamental part of DeFi.

They fund AMM (and more), making their entire ecosystem possible. The more liquidity there is in a pool, the more people can buy without affecting the price. Liquidity pools reduce the dependence on external market makers to provide constant liquidity supply to decentralized exchanges. You basically become a ‘market maker’ yourself by providing liquidity in the form of trading pairs to the project pool.

As a reward, you’ll get a share of the fees that are involved with market making.

With Manifold, you’ll get a share in the rewards of the fees generated from our strategies/middleware.

At the time of publishing this article, we’re in the process of rolling out (the beta of) YCabal (on Sushi.com), and there is much more to come!

“Remind me again, what’s YCabal?”

YCabal is a technology stack created by Manifold that will redefine transactions. As we all know, transaction fees are going through the roof right now. A significant part of the clogging of the network is due to predatory arbitragers that are targeting your transactions on-chain. YCabal gives traders a shield to protect themselves against those ‘creatures’ by leveraging Manifold’s MEV-RPC layer.

**YCabal dramatically decreases your gas costs and significantly reduces the amount of failed transactions**

After transaction order flow into the algorithm gets analyzed to identify arbitrage opportunities, the transaction is sent directly into the mining pool. The profits are then shared between network participants.

The distribution will be as follows:

- 50% goes to Sushi traders
- 25% goes to Miners
- 25% goes to Manifold

Being a liquidity provider will get you a portion of the last 25%.*