Manifold Finance

Overview

Manifold Finance is a blockchain protocol designed to optimize MEV (Maximal Extractable Value) and provide infrastructure for DeFi applications. The FOLD token serves as the protocol's governance token and provides holders with a share of the protocol's revenue.

Purpose and Utility

The primary purpose of FOLD is to serve as a governance token for the Manifold Finance protocol, allowing holders to participate in decision-making processes. Additionally, token holders receive a portion of the protocol's revenue generated from MEV optimization services and infrastructure provisions.

Business Model Evaluation

The protocol's business model centers around providing MEV optimization services and blockchain infrastructure. While the technical aspects of MEV extraction and optimization are permissible from a Shariah perspective as they involve actual value creation and exchange, some concerns arise regarding the protocol's integration with DeFi lending protocols.

Adoption and Usage

The protocol has established partnerships with various blockchain projects and continues to develop its infrastructure. However, the primary utility remains centered around MEV optimization and DeFi infrastructure services.

Development Activity

The project maintains active development on GitHub and regularly updates its infrastructure. The team continues to expand the protocol's capabilities and optimize its services.

Token Distribution

The token distribution appears to be relatively concentrated, with significant portions allocated to the team and early investors. However, there are vesting schedules in place to prevent immediate selling.