Bitget Wallet(formerly BitKeep Wallet) has recently upgraded the MEV protection mechanism for transactions on the Ethereum chain in the App to solve the problem of malicious MEV in the Ethereum network and provide users with a more secure and convenient on-chain transaction experience.
When a user goes through the DEX aggregator built into the wallet——Bitget SwapWhen conducting token transactions on the Ethereum chain, the system will turn on the MEV protection function by default, effectively avoiding potential risks such as front-running and sandwich attacks. In addition, through Flashbots MEV-Share protocol, the MEV revenue generated during the transaction will be automatically returned to the user, maximizing the users interests without the user having to perform any additional operations.
MEV is a strategy of adding, deleting, or reordering transactions when creating new blocks, which can generate potential profit margins that malicious actors can reap rewards by exploiting, but cause asset losses to other users. Flashbots has been committed to solving this problem and greatly reducing the adverse effects of MEV and front-running strategies to achieve a more efficient, decentralized and fair on-chain environment.
As early as the beginning of this year, Bitget Wallet has integrated Flashbots technical services into its Swap function to improve the privacy and security of on-chain transactions. Flashbots Bundle transaction packaging strategy helps Bitget Wallet optimize the transaction execution sequence, ensure transaction priority, avoid malicious MEV attacks caused by changes in transaction execution sequence, and also reduce transaction slippage. In the latest version of Bitget Wallet, the MEV Protection function is more intuitive, allowing users to more clearly perceive these security measures.
Through the cooperation between the two parties, Bitget Wallet will work with Flashbots to reduce the negative impact of malicious MEV on the market, improve the overall security of transactions, help users avoid the intrusion of malicious strategies, and at the same time optimize transaction costs and avoid unnecessary additional expenditures. On this basis, a fair and transparent DeFi ecosystem will be built to promote the fair and sustainable development of the Ethereum ecosystem.
With Swap transactions as its core function, Bitget Wallet is committed to becoming the most usable Web3 transaction wallet. Its emphasis on the MEV protection mechanism further demonstrates its pursuit of providing an excellent on-chain transaction experience.
About Bitget Wallet (Web3 multi-chain wallet)
Bitget Wallet, formerly BitKeep Wallet, is Asias largest and the worlds leading one-stop Web3 multi-chain wallet. Provide users withwallet,Swap transaction,NFT trading, DApp browser and other comprehensive on-chain products and DeFi services.
Since its establishment five years ago, it has been recognized and supported by 12 million users around the world and hundreds of industry leading projects such as Ethereum, BNB Chain, Arbitrum, and Polygon due to its safe and convenient products and services.
In March 2023, the crypto derivatives trading platform Bitget invested US$30 million in BitKeep and became the controlling shareholder; in August, BitKeep officially upgraded its brand and changed its name to Bitget Wallet. Its products and services were completely upgraded, with transaction as the core, to bring users for a better trading experience.