News from the FOLD Coin Development team on May 6, 2021
Securing the future of decentralized finance
We’ve passed the stage where ‘DeFi’ can be regarded as a mere buzzword. Nowadays everyone has access to what was previously exclusive for a select few. Despite the incredible growth we’ve seen in such a short time, there are still plenty of issues, shortcomings, and limitations, as you can expect with such a relatively young ecosystem.
Our team has been quietly building behind the scenes with the ideas and execution required to make a seismic impact.
The time has finally come for us to show you what we’ve been doing as we begin the process of shaping the new frontier of true evolution.
First, let’s start off by duly introducing ourselves.
At Manifold, we build middleware to improve connectivity between layer-1 DeFi products. With our governance system, we allow you to buy into our technology and benefit from the strategies in a way you can generate passive yield while also engaging with the governance process that drives these integrations.
From trade execution infrastructure to on-chain protocol extensions, Manifold Finance already has built a scalable stack of DeFi products focusing on enhancing and providing additional functionality to DeFi protocols. Today, we’ll introduce you to the first one.
You may not know this, but a lot of the bandwidth clogging the network right now has been coming from high levels of sandwich attacks. Arbitragers are frontrunning and backrunning transactions on-chain, resulting in a large number of failed transactions and exorbitant gas fees.
YCabal leverages Manifold’s MEV-RPC layer to shield users from predatory on-chain arbitrage, giving you safe passage through the dark forest.
This will dramatically decrease gas costs, reduce sandwich attacks, and prevent those ‘creatures’ from targeting your transactions at all. Effectively, you’ll be paying near-zero gas fees, and that annoying ‘fail’ message may become a thing of the past.
We’ll do an in-depth article soon, but if you’d like to know more already, head over to our newly launched website manifoldfinance.com.
We’ve just secured funding of $2.5 million through a strategic investment round, which you can read more about in this Bloomberg article.
Manifold Finance is continually looking for opportunities to collaborate with strategic investors, and also leverage opportunities presented by our investor networks to further improve ourselves and our user network. Our strategic investors are committed to the same goals that we are, and we work in tandem to pursue and achieve our goals.
We’ll have exciting news for all of you later this week, so stay tuned to our official channels and join our community!