By now, you’ve undoubtedly heard the news about Alchemist’s very own FlashDEX mistX.io which we launched on the 26th of May. In the last 20 days, mistX has grown to over 60% of the Total Swap Shares occurring on Flash DEXes (Dune analytics dshboard).
We would like to to highlight the unique and powerful features of mistX — an intrinsic part of the Alchemist ecosystem.
The technology underlying the platform uses Flashbots and does not publish user transactions to a public mempool, hiding them from frontrunners. Meaning that when trading with mistX you can’t be subjected to ‘frontrunning’ or ‘sandwiched’ trades like other DEXes.
With mistX, you can be assured that your swap is successful or else there is no fee to pay. Cancelled or failed transactions have no fee.
Last, but certainly not least, a portion of the miner tip is reserved to further enrich the Aludel rewards program. This means that by subscribing MIST-ETH LP to our Aludel rewards program via crucible.alchemist.wtf, our Alchemists are even rewarded for all trades mistX
As a result, with the help of mistX, you can continue to take full advantage of Uniswap’s & Sushiswap’s liquidity pools without being exposed to the risk of frontrunning and trade in volatile periods without risk of being sandwiched.
One of the most important problems of the Ethereum network, and DeFi in particular, is the damage caused by the actions of front-running bots and the associated crisis of MEV, which amounts to hundreds of millions of dollars worth of loss to users (explore.flashbots.net).
The main losses are incurred by ordinary, non-technical users of DEXes such as Uniswap, Sushiswap and other AMM DEX exchanges in the form of front-run or ‘sandwiched’ transactions.
mistX.io is the first time in Ethereum history that Flashbots is available to regular users for front-running protection and “no success, no fee” ability on transactions.