Questions for community call August 23rd 2023

🕋♟️General
1

Please post your questions in reply to this post. Time of call 18:00 UTC on Twitter spaces.

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Question from Max:

what’s a back of an envelope calculation for this? is it 2% p.a. of 28k ETH or 2% p.a. on the gross mevETH (protocol + mev rewards) yield?

(In response to “its insurance, capped at 2% interest based on TVL at risk and a risk parameter”)

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Also:

maybe some backtesting simulations of what excess revenue for fold-owned validators would look like (post smoothing pool contract)? without revealing strategies, and including a not-financial-advice caveat ofc

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  • Better eth part 4, 5 and summary: when?

  • Documents/website explaining all manifold products clearly: when?

  • Tokenomics: division of rewards between sfold and mevetH

  • $mev: still a thing?

  • Launch meveth eta

  • Marketing meveth: what are the plans?

  • Fold staking: how and when?

  • Roadmap after meveth launch: adding MeV strategies to meveth; marketing meveth; work on other products like sushiguard; …

  • Managing partner announcement. When? Is he part of marketing plan, will he be more vocal about meveth and manifold?

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More from Max:

questions re Sushi Guard and OpenMEV:

can Sam talk more about

⁃ “focusing on the validator service will set us up for that success. Things that we have developed like sushi guard will benefit as they no longer need configuration on the users part” https://t.me/manifoldfinance/165983

⁃ what he meant by the new ephemeris system he’s established for the openmev router which no longer requires a simulation. Does this mean it would speed up a sushi aggregator implementation? https://t.me/manifoldfinance/181454 https://t.me/manifoldfinance/182385

⁃ what’s been the latest with Sushi devs on this new development, and the plan going forward? https://twitter.com/blockrotator/status/1681021042368860161

Another question:

Please talk us through each of the boxes on the colour-coded diagram as seen in Better ETH part 1

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how many $fold per validator for slashing? frax has 4 eth afaik.

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And more from Max:

Another question pls (hopefully it makes sense)

Are the mevETH validators also connected to MEV-Boost in case of an event where our integrated stack is unable to surpass their block rewards?

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Any plans to offer an instutional or wholesale staking service, where MEV profit sharing is rewarded on more favourable terms to attract large ETH capital stakes, hence re-enforcing the fly wheel and growing the ETH under management.

This would be in return to the standard ETH staking reward rate

9

More from Max:

Max: Why should we delay building a futures/options protocol on the new integrated blockspace forward market until US regulations mature? Would the team consider migrating to reg-friendly jurisdictions for the sake of Ethereum?

What strategies are we planning to submit proposals to other protocol’s treasury, similar to the Lido+Mantle collab?

Is the enhanced/priority RPC Access for serious hft trading (bribed via $fold collateral) going live with mevETH?

If so,

  • how would defi protocols use their erc20 tokens to buy $fold as collateral/bribe for blockspace priority inclusion?
  • does it involve coding/integrating their DApp back-end orderflow with us?
  • how would this bribe and integration work for market makers like Wintermute?
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I think this question was covered as several separate questions by others (like Vhfan) but for the sake of clarity - it would be great if there was an overview of Manifold products and the business model, and how each product (mevETH, and maybe SushiGuard, plus any other upcoming products - lending market, blockspace futures etc) will make money and how FOLD will benefit/share revenue from each of them.

Not asking for estimates or financial projections, just the structure of a) how the business makes money; and b) how FOLD will share in it from a noob-friendly perspective that is easier to understand and market than the Better ETH posts.

Also, any news on the Managing Partner?

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  1. Why does the company go 1 to 2 months without posting on Twitter?
  2. Is Tangle gonna move to Twitter management?
  3. What type of LP incentives will be implemented for Fold in the future?
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Notes from Community Update - Aug 23, 2033


Summary from the X (Twitter) Space


  • Provided an update on mevETH launch, mentioning that audits have been completed and fixes have been made based on audit findings. Another final audit is planned as well.

  • Validators will enable Manifold to enforce certain constraints and perform tasks like block building and operating relays.

  • Planning on working with a Beacon Client team for implementing unique features specific to their offering, such as an alternative implementation of MEV Boost that allows more than one block winner in auctions through proof of non-contention mechanism.

  • Discussion on several aspects of the Manifold platform, which highlights the differentiators of Manifold and its focus on block building, validator sets, and relay implementation. The use of external constraints and rules for block proposals is also mentioned. The importance of using mevETH as a bribe for the validator set is emphasized.

  • Manifold aims to provide a (*risk-free) way of return through its insurance module. This aims to cover service outages or slashing/attestation risks from the validator set. There are also plans for a multi-asset staking model in addition to single-asset staking, TBD.

  • Touched upon the concept of prioritizing transactions in block space rather than focusing on arbitrage opportunities. This approach allows for more value extraction as demand increases for priority access to block space.

  • Mentioning plans for a lending market or protocol that will be launched after mevETH goes live on Mainnet. The lending market aims to balance interest rates between Lending and Staking, and encourage utilization while providing safety features such as an emergency time lock and deposit freeze mechanism.

  • Overall, provided insights into Manifold’s unique features, strategies, and plans for growth in terms of staking, insurance schemes, transaction prioritization, and future developments like the lending market.

  • The need for a polished front end UI is highlighted to ensure smooth user experience while interacting with contracts.

  • Mention of future plans for a futures and options protocol, but it won’t be implemented immediately. Overall, the aim is to provide clear documentation and make the complex ecosystem easily understandable to users through visual representation and community engagement.


Disclaimer: NO FINANCIAL ADVICE

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