FAIR is a new blockchain aimed at addressing the issue of Maximal Extractable Value (MEV) in DeFi. With the BITE protocol, user transactions will be protected from manipulation.
The MEV Problem in DeFi
Maximal Extractable Value (MEV) has become an invisible tax on blockchain users. By employing mechanisms like reordering and censoring transactions, bad actors extract significant funds, not just from protocols, but directly from everyday users. About 70% of blocks in Ethereum contain MEV, potentially leading to a $100 billion loss if the issue remains unaddressed.
FAIR: The First MEV Resistant L1
FAIR represents a new breed of blockchain that eliminates MEV at the consensus level using the BITE (Blockchain Integrated Threshold Encryption) protocol. Transactions are encrypted before being sent to the network, preventing validators from reading or reordering them. This makes front-running and sandwich attacks impossible.
FAIR's Capabilities for Developers
FAIR opens new avenues for DeFi application development, such as automated market makers and decentralized exchanges, without manipulation risks. The blockchain also integrates with the SKALE ecosystem, providing access to secure and efficient liquidity.
FAIR addresses existing challenges in DeFi, ensuring security and efficiency through an innovative approach to blockchain technologies.
