What is MEV?

MEV refers to the maximum value that can be extracted from block production beyond the standard block reward and gas fees. This is achieved by strategically including, excluding, or reordering transactions within a block.

Express Relay connects DeFi protocols to a network of searchers through protocol-controlled auctions for valuable transactions, such as liquidations. This empowers protocols to potentially eliminate MEV and significantly reduce the cost of critical operations like liquidation rewards.

Searchers are specialized actors who identify and exploit MEV opportunities. In Express Relay, these include prominent names like Flow Traders, Wintermute, Auros, Flowdesk, Caladan, Tokka Labs, and Swaap Finance.

Benefits of Express Relay

Reduced MEV: By enabling competitive bidding among searchers, Express Relay strives to minimize MEV extraction, potentially leading to cost savings for DeFi protocols.

Improved Liquidation Efficiency: The platform facilitates more efficient liquidation execution, potentially benefiting both protocols and users.

More Equitable DeFi Ecosystem: Express Relay promotes a fairer DeFi environment by allowing protocols to redirect saved resources towards user benefits or other productive initiatives.

Streamlined Searcher Integration: The service aggregates liquidation and other DeFi transaction opportunities across various protocols and blockchains, simplifying access for searchers.

Early Adoption and Industry Support

Several DeFi protocols, including Synthetix, Zerolend, Ionic, Synonym, Keom, Jax Finance, Vela Exchange, and Fulcrom Finance, have already begun integrating with Express Relay. This streamlines their liquidation processes and potentially improves capital efficiency.

MEV is not inherently negative, as it can contribute to market efficiency and incentivize participation. However, it can also raise concerns about fairness, decentralization, and network costs. Express Relay represents one approach among various solutions and protocols aiming to create a more balanced blockchain ecosystem.

Originally designed for Solana, Pyth Network now provides real-time market data for cryptocurrencies, equities, FX, and commodities across over 50 blockchains. This includes major networks like Ethereum, Optimism, Arbitrum, and Base.

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The post Pyth Network Launches Express Relay to Combat MEV in DeFi appeared first on Coin Engineer.

Warwick countered criticisms that meme coins are “pure speculation” by asserting that “speculation is good and valuable.” He noted that the ecosystems formed around meme coins contribute to the development of DeFi infrastructure.

Warwick pointed out that retail investors find meme coins more engaging compared to complex DeFi protocols, and this leads to their involvement in DeFi. “Financial engineering is not that interesting,” he said. “There aren’t that many people who find it deeply interesting.”

The Synthetix founder maintained that meme coins are “quite useful” in attracting new investors to DeFi and bringing the space to a wider audience.

The post Synthetix Founder Kain Warwick: “Speculation is Good!” appeared first on Coin Engineer.

Weekends in the crypto market usually see a drop in volume, which can make prices more susceptible to manipulation. Therefore, we should avoid using high leverage.

Bitcoin and Cryptocurrencies

Bitcoin (BTC): The BTC/USDT pair has gained 0.64% in value in the last 24 hours, trading at a level of 51,073. Resistance levels for BTC are firstly 52,400$, then 54,700$. Support levels are 50,600$ and if below this region, 50,000$.

Ethereum (ETH): The ETH/USDT pair has gained 1.46% in value in the last 24 hours, trading at a level of 2,960$. The first resistance level for ETH is 2,975$, then 3,060$. Support levels are firstly 2,710$, then 2,615$.

ImmutableX (IMX): The IMX/USDT pair has gained 1.57% in value in the last 24 hours, trading at a level of 3.09$. The first resistance level for IMX is 3.50$, then 4.68$. Support levels are firstly 2.00$, then 1.72$.

Synthetix (SNX): The SNX/USDT pair has gained 8.49% in value in the last 24 hours, trading at a level of 3.94$. The first resistance level for SNX is 4.043$, then 4.21$. Support levels are firstly 3.61$, then 3.474$.

Mask Network (Mask): The MASK/USDT pair has gained 3% in value in the last 24 hours, trading at a level of 4.49$. The first resistance level for MASK is 4.60$, then 5.30$. Support levels are firstly 4.25$, then 3.83$.

Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube and Twitter for the latest news and updates.

The post Latest on Bitcoin and Cryptocurrencies! – 24 February appeared first on Coin Engineer.

You might like: AltLayer (ALT), Binance Exchange’s 45th Launchpool Project

The project has developed these capabilities with a system called Restaked Roll-up. Thanks to Restaked, Roll-ups can be produced in the fastest and safest way using Roll-up stacks such as OP Stack, Arbitrum Orbit, ZKStack, and Polygon CDK. Additionally, this system uses the EigenLayer restaking mechanism to create a decentralized network.

What does it do? What opportunities does it offer?

The Restaked Roll-ups in the AltLayer project use the Actively Verified Services (AVS) system. These are divided into three: VITAL (AVS for decentralized verification), MACH (AVS for fast results), and SQUAD (AVS for decentralized sorting).

The AltLayer project, which is built on such a protocol, offers many opportunities to users. Users who are not developers and do not know how to code have the opportunity to produce Customized Roll-ups in a very short time, such as 2 minutes.

In addition, the AltLayer project interacts with and supports many DA layers such as OP Stack, Starkware, Celestia EigenLayer, and Avail.

In addition to these, there is one more innovation. This innovation in the Roll-up design area is the concept of Ephemeral Roll-up. The benefits of this are as follows:

• A fast and scalable application on the Layer 1 side can produce Roll-ups faster.
• This Roll-up can be used seamlessly for the duration of its need.
• Roll-up can be thrown away with the “expiration date” option, if desired.

What makes the AltLayer project so important?

Roll-ups are used in many places. But many of them are designed for general purposes or for application-specific uses. Today, Roll-ups can be produced heterogeneously using Arbitrum Orbit or ZKStack. However, AltLayer offers a universal and neutral protocol against this situation.

What is the ecosystem of the AltLayer project?

AltLayer works with Dapp developers to build partnerships with many projects in the ecosystem. In this way, it aims to both help new projects and grow with them. Currently, they have announced their partnerships with Arbitrum, Optimism, Polygon, Singularity, Snapshot, and many more projects.

The people behind the project

In addition to having many partnerships, the supporters of AltLayer also consist of important companies and individuals. For example, these include Kain Warwick, the founder of Synthetix, and Balaji Srinivasan, the former CTO of Coinbase.

You can freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post What is AltLayer (ALT), Binance’s new Launchpool project? appeared first on Coin Engineer.

You might like: Bitcoin ATMs Shrink by 11%

On December 31, TRB’s value surged 150% in just 13 hours to reach $619, before quickly crashing back down to $136. Tellor’s team’s $2.4 million transfer to Coinbase coincided with the rapid rise in prices, which fueled speculation.

In the past 24 hours, $TRB soared to $600 and then plummeted to $137, causing $68M of assets to be liquidated, making it the most liquidated token.

We noticed that the #Tellor team deposited 4,211 $TRB($2.4M) after the price of $TRB skyrocketed.

Address:https://t.co/efHPXCiMiG pic.twitter.com/IBty2Wf2gI

— Lookonchain (@lookonchain) January 1, 2024

As TRB’s value fell, over $68 million in liquidations occurred, according to data from CoinGlass. Analyses revealed that 26% of TRB is concentrated in just 20 large wallets, which could be contributing to artificiality in price movements.

Tellor is a service token used for a decentralized oracle network, and the upheavals also affected decentralized trading protocols such as Synthetix (SNX). Synthetix stakers experienced losses due to the sudden change in TRB’s price.

$TRB reached its all-time high today at $225, but what's next?

Current situation:

Among the 2.5M $TRB in circulation, about 1.7M is on exchanges, and 660K is held by a group of 20 whales (which is ~95% of the tokens).

The group of whales accumulated these tokens in… pic.twitter.com/kWbZGxEqcv

— Spot On Chain (@spotonchain) December 29, 2023

Synthetix founder Kain Warwick highlighted the weaknesses in risk management in decentralized trading mechanisms, emphasizing the importance of strong risk control mechanisms. These events once again brought to light the risks in the crypto market and the challenges of decentralized trading.

The post Tellor!! What’s Happening with TRB Coin? appeared first on Coin Engineer.