Manifest

Manifest is an RWA protocol bringing US home equity onchain for global capital seeking dollar-denominated property exposure and onchain yield. Its USH token is collateralised by Home Equity Investments, or HEIs, and targets $1 of net asset value per token without being pegged, floating around that target; staking converts it to sUSH to capture portfolio returns, with a 28-day cooldown on exit. HEIs are lien-secured contracts where each dollar invested controls about two dollars of home value, and the portfolio targets 8 to 11 percent a year after taxes and expenses.

Liquidity runs through a single protocol-owned USH/USDe pool, where a custom Uniswap v4 hook handles issuance, redemption and market making: buyers pay a small flat fee, seller fees rise with net sell pressure and fall back as selling subsides, automated buying pauses when the fee hits its cap, the arbitrage reserve falls below a threshold or USDe loses its peg, and every swap is checked against an allowlist and sanctions screening. USDe from Ethena was designated as the reserve asset on 27 May 2026 and the hook went live on 16 July 2026, with backing shifting toward a target mix of 80 percent property and 20 percent USDe. A Solana order-book DEX and a meme coin share the name but are unrelated.