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).

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NFT marketplaces

Manifold.xyz

# Manifold.xyz Expenses Methodology

## 1. Overview

ManifoldXYZ expenses represent the token incentives paid out by the platform to users or stakeholders. This metric measures the cost of token-based reward programs and incentive mechanisms used to drive platform adoption and engagement. For ManifoldXYZ, expenses are calculated as token incentives, which are explicitly set to zero across all time periods, indicating that the platform does not operate any token incentive programs.

## 2. Data sources

The calculation framework relies on the following data sources, though the final expense values are hardcoded as zero:
- **Trading volume data structure**: Ethereum native ETH flows by account and Optimism transaction records for Claims functionality
- **Marketplace contract events**: Parsed ManifoldXYZ contract events including `PurchaseEvent`, `BidEvent`, and `CreateListing` from Ethereum v1/v2 and Optimism v1 deployments
- **External data**: End-of-day token price feeds for USD conversion and token metadata for decimal correction
- **Blockchain transactions**: Ethereum and Optimism transaction data to capture trading activity

## 3. Step-by-step calculation

### Component A: Token incentives calculation
- **Purpose**: Calculate token incentives paid by ManifoldXYZ to users
- **Logic**: Token incentives are explicitly hardcoded to zero for all time periods, chains, and products. The model creates a structure that inherits the dimensional framework from the fees model (timestamp, chain, product dimensions) but sets the `token_incentives` value to 0 for all records
- **Key fields**: `timestamp` (daily aggregation), `timestamp_grain` (day), `chain_id`, `product_id`, and `token_incentives` (always 0)

### Component B: Trading volume framework (inherited structure)
- **Purpose**: Provides the dimensional framework for expense calculations
- **Logic**: Though not directly used for expense values, the trading volume calculation establishes the time series structure. This includes marketplace sales from `PurchaseEvent` and winning `BidEvent` transactions, plus Claims activity from ETH transfers to specific contract addresses. Data is aggregated daily and converted to USD using end-of-day price feeds
- **Key fields**: Daily timestamps, chain identifiers, and product classifications that structure the zero expense values

### Final aggregation
- **Combining components**: Token incentives (zero values) are renamed as expenses while maintaining the same dimensional structure
- **Currency conversion**: Not applicable since all values are zero, though the framework supports USD conversion
- **Time aggregation**: Daily boundaries with zero-filling strategy for missing periods to ensure continuous time series
- **Final calculation**: Expenses equal token incentives, which are always zero for ManifoldXYZ. The result is filtered by chain availability to include only supported blockchain networks

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

Total project operating and incentive expenses.

Manifold.xyz

Expenses

Expenses

Competitive landscape

Chain breakdown