Prominent names in the Ethereum community are joining forces to launch MEV Blocker — an RPC endpoint designed to safeguard Ethereum transactions
BERLIN, Germany, April 7, 2023 /PRNewswire-PRWeb/ -- Maximal extractable value (MEV) is a $1.3 billion dollar problem for the Ethereum ecosystem. Whenever DeFi users make trades, buy NFTs, register ENS names, or provide liquidity to liquidity pools, their transactions risk being hijacked by MEV bots that are able to act in milliseconds and undercut a real user's trade, resulting in worse prices for genuine users.
Now, top Ethereum projects have come together to solve this issue: MEV Blocker is a Remote Procedure Call (RPC) solution developed to tackle this problem and give power back to the users.
CoW Swap, Beaver Build, Agnostic Relayer, EigenPhi, Balancer, Gelato, Gnosis DAO, Safe, Paraswap, Karpatkey, Arrakis Finance, Aura, Keystone Wallet, Shapeshift Wallet, Swapr, StakeDAO, Swarm, Gearbox, Onramper, Liminal have all signed on as launch partners.
Before sending transactions to the mempool, MEV Blocker directs them to a network of "searchers" that bid for the right to backrun the transactions while shielding users from frontrunning and sandwich attacks. MEV Blocker sends 90% of the profits from winning bids back to users and 10% to validators as a reward.
In this way MEV Blocker not only prevents "harmful" MEV in the form of frontrunning and sandwich attacks, but it also helps users capture much of the surplus created by their transactions — something most are missing out on today.
Martin Köppelmann, CEO of Gnosis said, "It's particularly exciting that, with the launch of MEV Blocker, users can profit from the back running opportunities they create. Today all of that money is taken by the searcher, but why shouldn't it be split with the people who create the value?"
The MEV Blocker RPC endpoint was jointly developed by CoW Swap, Agnostic Relay, and Beaver Build. It is fast, free and censorship-resistant. To enjoy the full benefits of MEV Blocker, users simply add the RPC endpoint to their wallets and use Ethereum-based dApps as they normally would.
Felix Leupold, CTO of CoW Swap shared, "At CoW Protocol, our philosophy has always been to minimize MEV and capture its value for the users of Ethereum. While CoW Swap is a great MEV solution for token swaps, with MEV Blocker we are now launching a more general and even simpler solution to protect Ethereum users from all kinds of MEV."
Find out more about MEV Blocker here: https://mevblocker.io/
For media inquiries, please contact Jonathan Duran at (310) 260-7901 or Jonathan(at)MelrosePR(dot)com
About Gnosis DAO
GnosisDAO builds decentralized infrastructure, incubates and funds projects that build in the Ethereum ecosystem. Founded in 2020, the DAO has a treasury with effective control of over 150K ETH and 8 Million GNO tokens. GnosisDAO has incubated several successful projects, including Gnosis Safe, Cow Protocol, Conditional Tokens, Gnosis Auction, and Zodiac. By combining needs-driven development with deep technical expertise, Gnosis has built the decentralized infrastructure for the Ethereum ecosystem.
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SOURCE Gnosis DAO
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