Manifold Finance to Launch Liquid Staking Platform, Has Acquired Cream Finance's Validator Set

According to The Block, Manifold Finance will launch a liquid staking platform in the next few months, and will design mevETH as a liquid staking derivative that provides additional returns through MEV withdrawals. To launch the protocol, Manifold acquired Cream Finance’s validator set, which means those who stake ETH on Cream Finance will then stake to Manifold’s liquid mortgage protocol, and when the protocol launches, Manifold will control approximately 25,000 ETH. Manifold did not disclose the terms of the deal, but said it plans to provide incentives for Cream Finance stakeholders. Manifold considers some MEV strategies to generate yield, but new strategies may be introduced later. MevETH will be a full-chain token built using the cross-chain LayerZero protocol. Manifold is a platform focused on providing additional yield opportunities by leveraging MEV, often partnering with exchanges to allow their users to earn additional profit from this MEV withdrawal.