PancakeSwap Launches MEV Guard to Enhance User Security on BNB Chain
With the growing adoption of digital assets through decentralized exchanges (DEXes), PancakeSwap #CAKE, a prominent multi-chain DeFi platform, has introduced a new product to enhance user experiences. The PancakeSwap MEV Guard will be available for users on the BNB chain.
Miner extractable value (MEV) represents an attack method on DEX users that undermines optimal swap prices through techniques like frontrunning and sandwiching. Developed by the 48 Club team, the PancakeSwap MEV Guard is compatible with multiple wallets and supports custom RPC.
The launch enhances security, privacy, and trading efficiency within the BNB Chain ecosystem. Users can execute swaps with confidence, knowing their transactions are secure and straightforward to set up, as stated by PancakeSwap here.
How to Activate the PancakeSwap MEV Guard
For MetaMask users, enabling the MEV guard involves visiting the PancakeSwap page and activating the feature with one click. Other web3 wallets, such as SafePal and Trust Wallet, require manual addition of the PancakeSwap MEV guard’s custom RPC endpoint.
Users must switch to the PancakeSwap MEV Guard RPC in their wallet network. Additionally, PancakeSwapX introduces advanced MEV protection layers to further improve user experiences. For example, it allows off-chain order signing, keeping transaction details private until execution. It also prevents gas bidding wars by involving external liquidity providers.
PancakeSwapX randomizes liquidity sources to hinder bots from performing sandwich attacks. The combination of PancakeSwapX and PancakeSwap MEV Guard establishes a robust MEV protection framework, addressing critical issues like frontrunning and sandwich attacks while promoting a transparent ecosystem.
Market Impact
PancakeSwap has become a significant DEX in the BSC ecosystem, boasting over $1.9 billion in total value locked (TVL). It provides essential liquidity for new token projects before they list on major crypto exchanges.
The introduction of PancakeSwapX and PancakeSwap MEV Guard is pivotal for maintaining competitive edge against other DeFi protocols, particularly Uniswap (UNI). Following the announcement, CAKE price increased by more than 9 percent in the past 24 hours, trading around $3.10 during early New York session. The mid-cap altcoin has a fully diluted valuation of approximately $1.1 billion and a daily average traded volume of around $521 million, reflecting a surge of over 65 percent in the past week amid the ongoing altcoin rally.