Shutter, an open-source protocol by brainbot, has unveiled a new anti-front running solution to combat malicious MEV (Maximal Extractable Value) attacks.
Partnering with Gnosis, which operates the EVM-compatible Gnosis Chain, Shutter’s mempool encryption aims to protect user transactions from front running and sandwich attacks, potentially saving traders from nearly $900 million in annual losses.
MEV Protection with Deep Chain Integration MEV attacks involve transactions that manipulate outcomes for financial gain, such as sandwich attacks that alter token prices. Current solutions often fail to address these attacks comprehensively, leaving traders vulnerable. Shutter’s encryption protocol integrates directly into blockchain networks, ensuring transactions remain private and secure until they are included in a block, preventing manipulation and censorship.
Addressing MEV in Web3 Shutter’s approach is vital in today’s Web3 landscape, where MEV attacks reduce market efficiency and trust. By encrypting the mempool, Shutter ensures fair trading and preserves the integrity of public blockchains, attracting more retail and institutional investors to decentralized finance (DeFi).
Strategic Integration with Gnosis Chain Gnosis Chain’s integration of Shutter directly tackles MEV attacks, marking a milestone for a more equitable blockchain ecosystem. This collaboration aligns with Gnosis Chain’s focus on decentralization and accessibility, enhancing user security and preventing value leakage.
A Vision for the Future Shutter aims to combat MEV attacks across the Ethereum ecosystem, ensuring equitable access and maintaining a neutral base layer. Launching on July 11, 2024, at the Ethereum Community Conference (EthCC), Shutter represents a significant step towards a fairer and more secure Web3 ecosystem.
