Creators create and sell NFTs on Manifold.xyz. They receive primary sales from mints (supply-side fees).

Manifold.xyz is a non-custodial NFT minting protocol. Manifold.xyz was founded by Eric Diep, Richerd Chan, and Wilkins Chung and launched in 2021.

Team and investors own and govern the protocol. They currently take a mint fee paid by collectors (revenue).

github

twitter

discord

website

NFT marketplaces

Manifold.xyz

# Manifold.xyz Earnings Methodology

## 1. Overview

ManifoldXYZ earnings represent the protocol's net profit from NFT marketplace operations, calculated as revenue minus expenses. The metric captures earnings from ManifoldXYZ's NFT creation and redemption platform, where revenue comes from fixed ETH fees charged for NFT claims and burn redemptions, and expenses are zero as the protocol has no token incentive program. This metric answers the question: "How much profit does ManifoldXYZ generate from its NFT platform operations?"

## 2. Data sources

The calculation uses the following raw data sources:
- **Smart contract events**: Parsed `ClaimMint` and `ClaimMintBatch` events from ManifoldXYZ ERC721LazyPayableClaim and ERC1155LazyPayableClaim contracts across versions v3, v4, and v5 on Ethereum
- **Smart contract function calls**: Parsed `burnRedeem` and `burnRedeem2` function calls from ManifoldXYZ ERC721BurnRedeem and ERC1155BurnRedeem contracts across versions v1, v2, and v3 on Ethereum  
- **Contract initialization data**: Parsed `initializeClaim` function calls to determine claim parameters and allowlist status
- **Ethereum transaction data**: Transaction traces and logs for contract interaction identification
- **End-of-day price feeds**: ETH price data for USD conversion
- **Token metadata**: Token decimal information for amount normalization

## 3. Step-by-step calculation

### Component A: Claim fee revenue
- **Purpose**: Calculate revenue from NFT claim fees charged by ManifoldXYZ
- **Logic**: Extract `ClaimMint` and `ClaimMintBatch` events from ManifoldXYZ lazy payable claim contracts across versions v3, v4, and v5. Join with claim initialization data to determine if each claim uses an allowlist by checking if the `merkleRoot` parameter differs from the zero hash. Apply fixed fee rates: 0.0005 ETH per mint for standard claims, 0.00069 ETH per mint for allowlist claims. Multiply fee rate by `mintCount` for batch operations. Sum all fees by day, aggregating across all contract versions and claim types.
- **Key fields**: `claimIndex` or `instanceId` for claim identification, `mintCount` for quantity, `merkleRoot` for allowlist determination, `block_timestamp` for daily aggregation

### Component B: Redemption fee revenue  
- **Purpose**: Calculate revenue from burn redemption fees charged by ManifoldXYZ
- **Logic**: Extract `burnRedeem` and `burnRedeem2` function calls from ManifoldXYZ burn redeem contracts across versions v1, v2, and v3. Determine if redemption is bulk by analyzing the `burnTokens` array structure - count the number of unique group indices or parse the JSON structure to identify item count. Apply fixed fee rates: 0.00069 ETH per redemption for standard operations, 0.00099 ETH per redemption for bulk operations (item count > 1). Multiply fee rate by `burnRedeemCount` for the total number of redemption actions. Sum all fees by day, aggregating across all contract versions and redemption types.
- **Key fields**: `burnRedeemCount` for action quantity, `burnTokens` array for bulk determination, `groupIndex` for item counting, `block_timestamp` for daily aggregation

### Component C: Total revenue calculation
- **Purpose**: Aggregate all revenue sources into daily totals  
- **Logic**: Combine claim fees and redemption fees into a single revenue stream. Group by timestamp truncated to day boundaries, chain identifier, and other dimensional attributes. Convert all ETH-denominated amounts to USD using end-of-day price feeds and apply decimal corrections for proper token representation. Sum revenue across all fee types to create daily revenue totals.
- **Key fields**: `timestamp` for daily boundaries, `fee_amount` for revenue amounts, `token_address` for ETH identification, `revenue_type` for fee categorization

### Component D: Expenses calculation
- **Purpose**: Calculate total protocol expenses (token incentives)
- **Logic**: ManifoldXYZ operates without a token incentive program, so token incentives are set to zero for all periods. Create records matching the revenue data structure with expense amounts of 0. This ensures the earnings calculation has matching dimensional attributes but no actual expense amounts.
- **Key fields**: `token_incentives` set to 0, `timestamp` matching revenue periods, dimensional attributes for consistency

### Final aggregation
- **Combining components**: Calculate earnings by subtracting total expenses from total revenue using the `calculate_earnings` macro. Since expenses are always zero, earnings equal revenue for all periods.
- **Currency conversion**: All fee amounts are converted from ETH to USD using end-of-day price feeds, with proper decimal correction applied to handle ETH's 18-decimal precision
- **Time aggregation**: Data is aggregated to daily boundaries by truncating `block_timestamp` to day granularity, ensuring consistent time-series data
- **Final calculation**: The final earnings value represents ManifoldXYZ's daily profit in USD from NFT platform operations, calculated as the sum of all claim and redemption fees minus zero expenses

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Net profit (also profits, net income, profitability) — revenue remaining after subtracting expenses.

Manifold.xyz

Earnings

Earnings

Competitive landscape