Manifest Overview
Combining the global reach of crypto with the stability of real estate.
Stay safe: Make sure you are interacting only with the official Manifest contracts for USH, sUSH, and USA tokens. See Key Addresses for the official contract addresses.
Manifest is a DeFi protocol that opens U.S. residential real estate — the largest asset class in America — to global capital, in crypto and beyond.
In traditional markets, investing in American housing has been a reliable way to preserve and build wealth over decades. Despite it's advantages, it's an asset class that's slow, costly, and inaccessible to many. Manifest changes that by turning U.S. home equity into a liquid, permissionless token. The protocol makes high-quality real estate composable across DeFi, and accessible to investors anywhere.
In short, Manifest brings American real estate to the world on blockchain rails.
Importantly, Manifest's approach is nothing like earlier real estate tokens that simply fractionalized properties. Previous attempts often made investors into mini-landlords -- inheriting high fees, illiquidity, complex taxes, and management headaches. Manifest takes a fundamentally different path. By using Home Equity Investments (HEIs) and deep DeFi integration, Manifest offers exposure to U.S. housing without the burdens of ownership or the limits of closed platforms. The result is a scalable real estate product that behaves more like a crypto-native asset: liquid, transparent, and yield-bearing, all backed by real residential real estate investments.
USH: The U.S. Housing Token
USH (short for U.S. Housing) is Manifest's flagship token -- a permissionless ERC-20 backed by a diversified portfolio of residential home equity, with each unit targeting $1 of underlying value. As U.S. home values rise over time, the net asset value (NAV) of the USH portfolio grows accordingly. Manifest mints new USH backed by this growth and uses them as rewards.
Why USH?
Non-Tbill Backing: USH is backed by assets that are not correlated with the US Government's performance. This represents a reduced geopolitical risk compared to dollar-backed stablecoins.
Diversified & Secure: Each USH token is backed by a carefully selected portfolio of HEIs, which provide diversification and security for investors. See portfolio construction.
Protocol Rewards
sUSH is the reward-accruing version of USH. Investors can stake their USH tokens to mint sUSH, capturing the excess growth generated by the underlying HEI portfolio. This additional growth is derived from the economic structure of HEIs, specifically their discounted purchase prices and equity multipliers, which typically exceed home price appreciation and most other real estate assets. Learn how value is captured in How Manifest Works.
Getting Started
Ready to add U.S. real estate to your portfolio?
Buy USH - Get exposure to U.S. housing in seconds
Stake for yield - Earn additional returns with sUSH
Key Resources
How Manifest Works - Deep dive into the protocol mechanics
Risk Management - Understand the risks and safeguards
HEI Mechanics - Learn about the assets backing USH
Community
Twitter: @ManifestFinance
Website: manifest.finance
Email: [email protected]
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