Bitget Wallet strengthens MEV protection with Flashbots integration, delivering a superior on-chain swap experience

November 02, 2023 03:25 AM PDT | By Invezz

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Bitget Wallet strengthens MEV protection with Flashbots integration, delivering a superior on-chain swap experience — Image source: Invezz

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Formerly known as BitKeep Wallet, Bitget Wallet has now unveiled an upgraded MEV (Maximum Extractable Value) protection feature. By integrating with research and development organization Flashbots, Bitget Wallet aims to address the prevalent issue of MEV attacks across the Ethereum network, offering users a safer and more convenient on-chain trading experience.

The “MEV Protection” feature is now automatically enabled by default on Bitget Swap, the wallet’s integrated swap function, protecting users from potential risks such as front-running and ‘sandwich attacks’ when they perform on-chain token transactions on Ethereum using Bitget Swap. Additionally, leveraging Flashbots’ MEV-Share protocol allows Bitget Wallet to automatically return MEV profits generated from transactions to users without any additional actions required on their part.

MEV attacks occur when malicious actors manipulate and rearrange orders within a block, thus creating opportunities for illicit value generation by forcing other users to incur losses. Flashbots remains committed to refining the MEV market to achieve a more efficient, decentralized, and equitable on-chain environment, substantially reducing the adverse impacts of MEV and pre-execution strategies.

Earlier this year, Bitget Wallet entered into a collaboration with Flashbots, providing Bitget Swap users with access to the Flashbots transaction bundling method and optimizing the order of transaction execution to ensure transaction priority. This mechanism allows users to circumvent both potential MEV threats arising from varying execution sequences as well as transaction slippage. Bitget Wallet’s latest update brings with it an upgraded and more user-centric “MEV Protection” feature which is more distinctively recognizable for users performing trades on Bitget Swap.

Through this partnership, Bitget Wallet and Flashbots aim to jointly mitigate the negative consequences of MEV on the market, heighten overall transaction security, protect users from malicious actors, optimize transaction fees, avoid unnecessary costs, and propel the Ethereum ecosystem towards fairness and sustainable growth for all users.

With swap trading at its core, Bitget Wallet is dedicated to serving its global userbase as the most user-friendly and optimal Web3 trading wallet in the market. This collaboration further demonstrates and underscores the platform’s commitment to offering an unparalleled on-chain trading experience for all.

About Bitget Wallet

Formerly known as BitKeep, Bitget Wallet stands as Asia’s largest and global frontrunner among all-in-one Web3 multi-chain wallets. We offer a comprehensive range of on-chain products and DeFi services to our users, including wallet functionality, Swap feature, NFT trading, DApp browsing, and more.

With a 5-year legacy, Bitget Wallet has garnered acclaim from over 12 million users worldwide and has secured partnerships with prominent industry leaders including Ethereum, BNB Chain, Arbitrum, Polygon, and others. This success stems from our commitment to consistently delivering secure and convenient products and services.

In March 2023, Bitget, a leading crypto derivatives trading platform made a substantial $30 million investment in BitKeep, acquiring a controlling stake. Following this strategic move, BitKeep underwent a transformative and strategic brand evolution in August, officially rebranding itself as Bitget Wallet.

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Contact

Rachel Cheung
[email protected]

The post Bitget Wallet strengthens MEV protection with Flashbots integration, delivering a superior on-chain swap experience appeared first on Invezz

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