Cashmere Labs releases public testing network for LayerZero-based Anti-MEV DEX aggregators
On April 23rd, it was announced that the Cashmere Labs team of LayerZero based multi chain anti MEV DEX aggregators announced the release of an initial public testing network, whic
On April 23rd, it was announced that the Cashmere Labs team of LayerZero based multi chain anti MEV DEX aggregators announced the release of an initial public testing network, which has been deployed on Ethereum Goerli, Polygon Mumbai, BSC Testnet, Arbitrum Goerli, Avalanche Fuji, Fantom Test Network, Optimism Goerli, Base Goerli, Line zkEVM Testnet, Polygon zkEVM Testnet, and Metis Goerli. At the same time, CashmereLabs has also partnered with Galxe, Layer3, and Zealy platforms to provide users with task processes.
LayerZero based multi chain anti MEV DEX aggregator Cashmare release public testing network
In recent years, DeFi protocols have faced a significant problem known as Miner Extractable Value (MEV). MEV refers to the profits that miners can extract from transactions that include reordering or censoring. To combat this problem, Cashmere Labs has developed LayerZero-based anti-MEV DEX aggregators. On April 23rd, they announced the release of their initial public testing network that has been deployed on multiple blockchain platforms.
What is MEV?
MEV or Miner Extractable Value is the profit generated by miners from the reordering or manipulation of transactions on the network. MEV arises due to the design of the blockchain and the practice of miners to choose the most profitable blocks to mine.
Introduction to Cashmere Labs
Cashmere Labs is a team of experts in the blockchain space. They have developed LayerZero, a custom blockchain stack that provides better performance and security. After identifying the MEV problem on the Ethereum network, they developed anti-MEV DEX aggregators, which prioritize users’ transactions and reduce the incentives for miners to reorder or manipulate transactions.
The Initial Public Testing network
On April 23rd, Cashmere Labs announced the release of their initial public testing network for their anti-MEV DEX aggregators. The network is currently available on multiple blockchain platforms, including Ethereum Goerli, Polygon Mumbai, BSC Testnet, Arbitrum Goerli, Avalanche Fuji, Fantom Test Network, Optimism Goerli, Base Goerli, Line zkEVM Testnet, Polygon zkEVM Testnet, and Metis Goerli.
How does it work?
The LayerZero-based anti-MEV DEX aggregators developed by Cashmere Labs use a unique algorithm that prioritizes users’ transactions over miners’ transactions. This algorithm reduces the incentives for miners to perform MEV extraction. As a result, users can transact without worrying about the MEV problem.
Partnership with Galxe, Layer3, and Zealy
Along with the release of their testing network, Cashmere Labs also partnered with Galxe, Layer3, and Zealy platforms to provide their users with task processes. These processes will enable users to perform complex tasks while ensuring their anonymity and privacy.
Benefits of Anti-MEV DEX aggregators
Anti-MEV DEX aggregators offer many benefits to users, including:
– Reduced transaction costs: With MEV extraction, users might end up paying higher gas costs. Anti-MEV DEX aggregators prioritize users’ transactions, which reduces the chances of paying higher gas costs.
– Better transaction time: MEV extraction can delay transactions or cause network congestion. By prioritizing users’ transactions, anti-MEV DEX aggregators provide better transaction times.
– Increased security: With MEV extraction, users’ private information can be compromised. Anti-MEV DEX aggregators ensure the privacy and anonymity of users.
Conclusion
Cashmere Labs’ LayerZero-based anti-MEV DEX aggregators provide an excellent solution to the MEV problem. The initial public testing network release on multiple blockchain platforms is a significant milestone. Their unique algorithm prioritizes users’ transactions, and with the partnership of Galxe, Layer3, and Zealy, their users can perform complex tasks without worrying about privacy or security.
FAQs
1. What is MEV?
MEV stands for Miner Extractable Value. It refers to the profits that miners can extract from transactions by reordering or censoring.
2. How do anti-MEV DEX aggregators work?
Anti-MEV DEX aggregators use a unique algorithm that prioritizes users’ transactions over miners’ transactions. This algorithm reduces the incentives for miners to perform MEV extraction.
3. What are the benefits of using anti-MEV DEX aggregators?
Anti-MEV DEX aggregators offer several benefits, including reduced transaction costs, better transaction times, and increased security and privacy.
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