🚀 Aave Evaluates Integration with Chainlink to Capture MEV

Aave is considering the integration of a new Chainlink oracle to redirect profits from front-running transactions to its users, according to a proposal in its governance forum.

The proposal, launched on December 23, aims to use Chainlink's Smart Value Recapture (SVR) service to capture the maximum extractable value (MEV) during liquidations. This would allow Aave to recover and reinvest these profits into its ecosystem, benefiting its users.

Reasons and Consequences:

- Cost Mitigation: The integration would help reduce costs associated with harmful MEV, protecting Aave users.

- Community Benefits: The captured profits could be reinvested in Aave's DAO, strengthening the ecosystem and benefiting its members.

- Innovation in DeFi: This move could set a precedent in the DeFi industry, encouraging other platforms to adopt similar solutions.

Aave's proposal reflects the growing need to protect users from MEV exploits and could mark a milestone in the evolution of DeFi protocols.

#DeFi #MEV #Aave 🛡️💰
$AAVE $ME

bloXroute Labs, a major block relayer for Ethereum, said it will filter out blocks that violate OFAC sanctions from its MEV relays. MEV relays help validators capture the extra value from arbitrage and other transactions. bloXroute’s two main MEV relays have generated over 400,000 Ethereum blocks.

#ethereum #mev #dyor

Bot on Solana Earns $30 Million from MEV Arbitrage in 2 Months

Ben Coverston of MRGN Research says the Solana-based MEV bot has made an active effort to date to keep a low profile.

The infamous maximum extractable value (MEV) bot known as "arsc" has pocketed around $30 million from Solana users over the past two months through MEV attacks.

A sandwich MEV attack occurs when an attacker "sandwiches" a victim's transaction between their own two transactions to manipulate the price and profit from the user. They profit by buying the victim's token at a price lower than the market value and then selling it on the same block.

"It seems they don't like the attention, as they have recently gone to great lengths to hide their activities and profits."

MEV sandwich bots often use intelligent algorithms to identify and exploit these profit opportunities. They are a common activity among max extractable value bots on Ethereum as well.

More than $1.38 billion was taken from "well-intentioned" Ethereum users on or before April 2023, according to MEVBlocker.

#mev #solana #ethereum #bots

$$BTC $ETH $SOL

🪙 Crypto and Blockchain News (November 28, 2023):

1️⃣ Bitfarms: Bitfarms, a mining company, has placed an order for the delivery of 35,888 Antminer T21 bitcoin #mining devices from Bitmain at a price of $2,660 per unit. According to the disclosed information, the transaction amount will be approximately $95.5 million. The equipment is expected to be delivered in March-May 2024. 💰 This is a significant deal highlighting activity in the mining sector.

2️⃣ Bloomberg: Ravi Menon, the head of the Central Bank of Singapore, believes that cryptocurrencies are becoming a thing of the past. In his opinion, they have not withstood fundamental tests by financial services. In the near future, digital assets will fade from the monetary scene, with other assets enjoying greater success. 📉

3️⃣ Animoca Brands: Hong Kong-based developer and investor in blockchain games, Animoca Brands, is investing in The Open Network (TON). Together, the platforms aim to help millions of users transition from Web2 to #web3 and promote the adoption of cryptocurrencies. Animoca Brands has become the largest validator for TON, but the total investment amount is currently unknown. 🌐

4️⃣ Jito: Developers of the liquid staking protocol on the #solana blockchain, Jito Network, have launched the native governance token JTO with a circulating supply of 1 billion coins. Jito is creating infrastructure to mitigate the negative impact of #mev bots on the core ecosystem. According to the company's statement, the JitoMEV validator network manages 40% of the assets locked in Solana. 🚀

5️⃣ PR Newswire: In mid-November, mining company Canaan obtained a license in Kazakhstan to engage in cryptocurrency mining activities. Collaborating with partners, the mining equipment manufacturer plans to resume farm operations by the end of 2023. 🌍 The license in #kazakhstan provides Canaan with new opportunities for development in a crucial region on the crypto mining map.

🔥 What's your perspective on these events? Let us know in the comments!