DeFi

Pyth Network Introduces Express Relay, Aiming to Reduce MEV in DeFi

Published

7 months ago

11 July, 2024

Pyth Network introduces Express Relay, aiming to reduce MEV in DeFi

Pyth Network launched Express Relay on mainnet, introducing a decentralized solution to the problem of miner extractable value (MEV) in DeFi transactions.

The Pyth Network provides real-time market data for blockchain applications, focusing on securely and inexpensively bringing latency-sensitive financial data on-chain.

This new product connects DeFi protocols directly to a network of established researchers via protocol-controlled auctions, eliminating the role of miners and improving market efficiency. Researchers integrated with Express Relay include Flow Traders, Wintermute, Auros, Flowdesk, Caladan, Tokka Labs, and Swaap Finance.

MEV Issues for DeFi

MEV traditionally allows miners or validators to capture most of the value of DeFi transactions through block space tips. However, Motor vehicles poses several significant challenges to blockchain ecosystems, especially DeFi.

This can lead to increased transaction costs and network congestion as miners and validators compete to extract valuewhich can potentially exclude regular users. MEV practices such as front-running and sandwich attacks can also result in unfair advantages for sophisticated actors, eroding trust in the system and potentially discouraging wider adoption. Additionally, the concentration of MEV mining capacity among a few powerful entities threatens the decentralization ethos of blockchain networks, as it can lead to the centralization of power and influence.

Finally, in extreme cases, the continuation of MEV could encourage malicious behavior such as blockchain reorganizations, jeopardizing the integrity and security of the entire network. These issues collectively underscore why MEV is considered an important problem that requires careful consideration and innovative solutions to maintain the fairness, efficiency, and decentralization of blockchain systems.

How Express Relay Solves MEV Problems

Express Relay changes this dynamic by awarding transaction rights to the finder with the most competitive bid and removing miners from the process. This setup encourages aggressive competition between finders over transaction value and allows DeFi protocols to increase liquidation reward incentives. As a result, protocols can save money, which can be redirected to more productive initiatives or passed on to users.

Protocols such as Synthetix, Zerolend, Ionic, Synonym, Keom, Jax Finance, Vela Exchange, and Fulcrom Finance, representing $1 billion in total value locked across 11 blockchains, have integrated or are integrating with Express Relay to mitigate the impact of MEV. This integration significantly reduces the costs associated with critical operations such as setting liquidation rewards.

Express Relay also facilitates the deployment of new protocols by providing access to an established network of researchers, reducing the need for protocols to build their own networks of liquidators and researchers. It aggregates valuable DeFi transaction opportunities across multiple protocols and blockchains for researchers, simplifying access and reducing trading and integration costs.

The launch of Express Relay was announced at the inaugural Pyth Agora 2024 Summit at the Ethereum Community Conference on July 11. The primitive is owned and governed by the Pyth DAO. Key industry figures including Michael Lie of Flow Traders, Tim Wu of Wintermute, Matt Losquadro of Synthetix, and Ryker of ZeroLend have expressed their support and enthusiasm for the initiative.

Wu, Head of DeFi at Wintermute, commented:

“Express Relay is a natural evolution of Pyth’s core oracle production. It aims to reduce value extraction by intermediaries and improve the efficiency of liquidation execution, effectively tackling this form of MEV.”

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DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

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DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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