XATA launches to make MEV fairer
XATA, a Fair Liquidity Provisioning protocol that minimizes Maximal Extractable Value (MEV), launches today. Incubated by Automata Network’s ecosystem, XATA is an independent, powerful solution that does not require any miner bribe nor modification to address MEV.
“With crypto volume picking up at an incredible pace, XATA is a new weapon in reassembling a new world order predicated on provable fairness. Its effective use of privacy will release DeFi without holding back innovation.”
- Keld van Schreven, Managing Director and Co-Founder of KR1,
Leveraging Automata Network’s Conveyor, XATA creates an unbiased, front-running-free zone with ordered privacy. The design philosophy of XATA is such that it becomes impossible to either inject new transactions into its output, due to signature mismatch, or delete ordered transactions, due to transactions being broadcasted throughout the network.
Where XATA comes in
Trading pairs protected by XATA will no longer be vulnerable to any front-running transactions. Users can also view the amount of tokens saved from front-running, which can be displayed after the transaction is completed.
- Ordering Privacy ✅ : Transaction ordering is not revealed unless it is determined and unalterable. No one, including the hosting nodes, will know the ordering before it’s decided.
- Gasless trading ✅ : Users can pay gas fee directly in the tokens to be swapped. Native tokens are no longer required when users are swapping tokens frequently.
- Chain-Agnostic ✅ : XATA provides multi-chain support for anti-front-running across blockchains including Polygon Network and Binance Smart Chain.
- Miner modification/bribe ⛔️ : As a stand-alone protocol, XATA does not require any additional miner bribe nor any prior modification on miners’ part to work.
In comparison to existing MEV solutions, XATA outperforms on all fronts.
“Blockchain’s existing hierarchy confers such exceptional power to apex actors that there must be the strongest of technical oversight to ensure accountability. As a community-driven project, XATA truly aligns with the ideological vision of decentralized Web 3.0, empowering users to benefit from and contribute to fair trading.”
- Deli Gong, Co-Founder at Automata Network
In the immediate term, users will have a choice to enjoy fair trading, and contribute to fair trading flow with XATA. For the long term, all participating DEXes will share users and volume in a moderated and constructive manner while remaining competitive to push the boundary for DeFi.
A Fairer World
The new crypto world shares a different intellectual and economic lineage from its predecessor —Economic fairness was the scarcest resource of the previous Web 1.0 and 2.0 eras, but we know that past behaviour is not predictive of the future. Progression in Web 3.0 must be charted by mutual support; by provable fairness; and by economic democracy.
XATA is an inflection point in showing how the arc of technology can bend towards decentralized, principled, and bottom-up capitalism over time. It is this — the original purpose of Web 3.0 — that makes the premise of DeFi such a compelling one.
In this shiny new world, it is not enough that we fight the monsters in the Dark Forest. It is imperative that we do not become the monsters ourselves.