Manifold Finance，一个曾经热闹的加密项目，现在陷入了混乱。

其古怪的创始人无法联系到，其代币的价格暴跌，沮丧的支持者恳求更新。

A onetime buzzy crypto project has plunged into turmoil, with its erratic founder vanishing from sight, the price of its token plummeting, and frustrated supporters pleading for updates.

一个曾经热闹的加密项目陷入了混乱，其古怪的创始人从人们的视线中消失，其代币的价格暴跌，沮丧的支持者恳求更新。

Manifold’s token, FOLD, hit an all-time low of 64 cents on Tuesday, down 98% from its 2022 peak of $87 — even as crypto markets surged on the election of Donald Trump as the US president.

Manifold 的代币 FOLD 周二创下 64 美分的历史新低，较 2022 年峰值 87 美元下跌 98%，尽管加密货币市场因唐纳德·特朗普当选美国总统而飙升。

Fold’s worth peaked at more than $87, and it was trading above $30 as recently as April. In 2022, the venture’s market value topped $128 million. Now it’s only $2 million.

Fold 的价值最高时超过 87 美元，最近的 4 月份交易价格还超过 30 美元。 2022 年，该合资企业的市值突破 1.28 亿美元。现在只有200万美元。

The token has crashed amid a disappointing response to Manifold’s year-old liquid staking product, which was meant to compete with the likes of crypto giants Lido and Rocket Pool.

Manifold 推出一年前的流动质押产品，旨在与加密货币巨头 Lido 和 Rocket Pool 等公司竞争，但市场反应令人失望，导致该代币崩盘。

It has also suffered as a prominent backer stopped providing liquidity for the token on decentralised exchange SushiSwap earlier this year.

今年早些时候，一位知名支持者停止为去中心化交易所 SushiSwap 上的代币提供流动性，这也让该代币遭受了损失。

Meanwhile, founder Sam Bacha has not provided regular updates on a forthcoming product meant to reverse Manifold’s declining fortunes. Self-imposed deadlines have come and gone.

与此同时，创始人萨姆·巴查（Sam Bacha）并未定期更新即将推出的产品，该产品旨在扭转 Manifold 的颓势。自我设定的最后期限已经到来又过去了。

Bacha has occasionally commented in a 2,500-person Telegram chat without offering any explanation as to his whereabouts or Manifold’s progress, instead cracking jokes and sharing irrelevant memes, infuriating some supporters.

Bacha 偶尔会在 2,500 人的 Telegram 聊天中发表评论，但没有对他的行踪或 Manifold 的进展做出任何解释，而是开玩笑并分享不相关的表情包，激怒了一些支持者。

Even one of Manifold’s most prominent investors, crypto influencer Jordan Fish, better known as Cobie, said in the group Telegram chat that he has lost faith in the company.

就连 Manifold 最著名的投资者之一、加密货币影响者 Jordan Fish（更广为人知的名字是 Cobie）也在 Telegram 群聊中表示，他已经对公司失去了信心。

“I invested in it in 2021, and at the top, it was worth like $5m and now it’s worth 0,” Fish told DL News. “I don’t know what to tell you, yeah, seems like it failed, crypto investments are risky, maybe I should’ve sold the top, it is what it is.”

“我在 2021 年投资了它，最高时它的价值约为 500 万美元，但现在它的价值为零，”菲什告诉 DL News。 “我不知道该告诉你什么，是的，似乎失败了，加密货币投资有风险，也许我应该卖掉顶部，事情就是这样。”

Philipp Zahn, a co-founder of Manifold partner 20squares, declined to comment to DL News, but called the company a “former client.”

Manifold 合作伙伴 20squares 的联合创始人 Philipp Zahn 拒绝对 DL News 发表评论，但称该公司是“前客户”。

Bacha and Alexander Bradley, a Manifold employee, did not respond to multiple requests for comment.

巴查和 Manifold 员工亚历山大·布拉德利 (Alexander Bradley) 没有回应多次置评请求。

Manifold isn’t Bacha’s first project to go sideways.

Manifold 并不是 Bacha 第一个横行的项目。

His last crypto startup, Block Array, appears to be defunct, and has been dogged by allegations of fraud. What’s more, this isn’t the first time he’s gone weeks without providing the status updates that are de rigueur in the crypto industry.

他的最后一家加密初创公司 Block Array 似乎已经倒闭，并且一直受到欺诈指控的困扰。更重要的是，这并不是他第一次连续几周没有提供加密货币行业必需的状态更新。

But with the collapse of Manifold’s token and supporters’ anger boiling over, Bacha’s behaviour has taken on a more ominous tone.

但随着Manifold代币的崩溃和支持者的愤怒沸腾，巴查的行为呈现出更加不祥的基调。

It’s the latest example of the pitfalls that come with crypto’s freewheeling culture.

这是加密货币随心所欲文化带来的陷阱的最新例子。

Bacha graduated from the University of Tennessee at Chattanooga in 2013, according to his LinkedIn account, which noted he had stints at AT&T and Amazon before founding his first blockchain-based startup in 2017.

Bacha 于 2013 年毕业于田纳西大学查塔努加分校，根据他的 LinkedIn 帐户显示，他曾在 AT&T 和亚马逊工作过一段时间，然后于 2017 年创立了他的第一家基于区块链的初创公司。

Block Array’s website and white paper were inaccessible on Friday. The X account for its Freight Trust product has been suspended. Freight Trust’s token, EDI, is seldom traded and, despite a total supply of 600 million, had no market value Friday, according to Etherscan. Block Array’s token, ARY, is also worthless, according to Etherscan.

Block Array 的网站和白皮书周五无法访问。其 Freight Trust 产品的 X 账户已被暂停。根据 Etherscan 的数据，Freight Trust 的代币 EDI 很少交易，尽管总供应量为 6 亿，但周五没有市场价值。根据 Etherscan 的说法，Block Array 的代币 ARY 也毫无价值。

Manifold was founded in 2021 to help crypto traders avoid front-running from malicious bots. It raised $2.5 million from P2P.org, Marshland Capital, and several other venture investors.

Manifold 成立于 2021 年，旨在帮助加密货币交易者避免恶意机器人的抢先交易。它从 P2P.org、Marshland Capital 和其他几家风险投资者那里筹集了 250 万美元。

A version of that anti-front running software was developed for SushiSwap, a decentralised crypto exchange.

该反前端运行软件的一个版本是为去中心化加密货币交易所 SushiSwap 开发的。

But it was quickly shelved due to software bugs. SushiSwap declined to integrate a retooled version of the software, opting to pursue development of an in-house version instead.

但由于软件缺陷，它很快就被搁置了。 SushiSwap 拒绝集成该软件的重组版本，而是选择开发内部版本。

After forays into other crypto middleware, Manifold eventually pivoted to liquid staking, a multibillion-dollar business long dominated by DeFi giant Lido.

在涉足其他加密中间件之后，Manifold 最终转向流动性质押，这是一项长期由 DeFi 巨头 Lido 主导的价值数十亿美元的业务。

But Manifold’s liquid staking token, mevETH, saw little uptake after its launch a year ago; the market value peaked at $36 million in March.

但 Manifold 的流动性质押代币 mevETH 自一年前推出以来几乎没有受到关注； 3月份市值达到峰值3600万美元。

Since then, it has been working in collaboration with German research firm 20squares on a new product, XGA.

此后，它一直与德国研究公司 20squares 合作开发新产品 XGA。

XGA is meant to ensure prompt confirmation of certain transactions, which sometimes wallow on Ethereum when a user doesn’t pay a sufficient fee.

XGA 旨在确保某些交易的及时确认，当用户没有支付足够的费用时，这些交易有时会在以太坊上沉迷。

Manifold investors held out hope XGA would lift the company from its doldrums. Without warning, however, Bacha stopped providing regular updates on his company’s work.

多方投资者对 XGA 能够使该公司摆脱低迷抱有希望。然而，在没有任何警告的情况下，巴查停止定期提供公司工作的最新情况。

Crypto security firm KebabSec had started an audit of XGA’s code, Bacha said in a September 2 update shared in the Telegram group chat. It is unclear whether that audit

Bacha 在 Telegram 群聊中分享的 9 月 2 日更新中表示，加密安全公司 KebabSec 已开始对 XGA 的代码进行审核。目前尚不清楚该审计是否