Satflow, a Bitcoin infrastructure company that focuses on the Ordinals and Runes ecosystems, has launched a new decentralized exchange (DEX) for professional traders. The goal of this platform is to address the issue of mempool sniping, which can have a bigger impact on Bitcoin compared to other networks.
Mempool sniping is a practice where users take advantage of the delay in adding transactions to a Bitcoin block. They remove transactions from the queue, add their own signature and a higher fee, and then ensure that their transactions are prioritized by Bitcoin miners for inclusion in the next block. This practice is more prevalent on Bitcoin due to the 10-minute window before a transaction is confirmed in a new block. In the Ordinals and Runes ecosystems, where new assets may experience rapid price fluctuations, this issue can be even more pronounced.
To combat mempool sniping, Satflow has introduced a DEX with zero fees initially, aiming to make trading more affordable compared to other platforms like Magic Eden. The platform’s approach involves three transactions for each trade, making them “unsnipable in mempool.” While existing DEXs still process trades that can be sniped, Satflow expects the market to shift towards more secure and non-snipable trades.
According to Robert Clarke, one of the founders of Satflow, the platform’s focus on a mempool-first perspective sets it apart from other exchanges that are more geared towards Ethereum or Solana. The DEX is designed to provide a more efficient trading experience for high-volume traders dealing with Ordinals or Runes.
In addition to addressing mempool sniping, Satflow recently secured $7.5 million in seed funding to further develop its platform. The company is optimistic about the potential for its DEX to attract traders looking for a secure and efficient trading environment on the Bitcoin network.
Overall, Satflow’s initiative to tackle mempool sniping and provide a user-friendly trading platform for professional traders demonstrates the company’s commitment to innovation in the cryptocurrency space. By offering a solution to a pressing issue in the Bitcoin ecosystem, Satflow is poised to make a significant impact on the way trades are executed and secured in the market.