It’s time to take back control and eliminate MEV.
Introducing: Express Relay—priority auctions for a more self-sovereign DeFi 🔮
Remove the extractive role of miners, roll out protocols faster, and instantly access a network of top searchers.
Express Relay directly connects DeFi protocols to a network of established searchers.
This priority auction allows searchers to compete for priority to perform lucrative operations (such as liquidations) on integrated DeFi protocols.
Express Relay addresses the problem of MEV, the profit that miners or validators extract from reordering, including, or excluding transactions within a block.
This extraction results in costs and inefficiencies for DeFi protocols and users.
Enter Express Relay.
With Express Relay, the sequencing of transactions is determined in auctions controlled by protocols, eliminating the extractive role of miners.
By enabling protocols to auction off priority for critical operations, Express Relay ensures that searchers can compete more aggressively over the transaction value.
Express Relay also solves an additional problem for searchers and early-stage DeFi protocols.
New protocols must build their own liquidator networks and negotiate with searchers to ensure reliable liquidations.
Searchers also take on integration costs for each protocol that they choose to integrate with. Both parties take on significant opportunity costs.
Express Relay offers early-stage protocols a way to accelerate deployment.
Instead of building liquidator networks and negotiating with searchers, protocols can seamlessly connect to an established searcher network to bootstrap liquidations.
For searchers, Express Relay aggregates valuable transaction opportunities of multiple DeFi protocols in one place.
Searchers can compete for these opportunities without writing bespoke code for each protocol’s interface.
With Express Relay:
DeFi Protocols can preserve extracted value and leverage a pre-integrated searcher supply for faster deployment.
Searchers can enjoy access opportunities across all integrated protocols.
DeFi Users benefit from the elimination of the extractive role of miners.
The Pyth DAO recently voted to approve the mainnet deployment of Express Relay, the newest Pyth Network product.
Express Relay aligns the community’s interest with the needs of increasingly sophisticated DeFi projects.
Express Relay is live on EVM mainnets and is supported by a robust network of searchers and DeFi protocols.
Integrated users include prominent lending, perpetual futures, and derivatives protocols. These names comprise $1 billion in TVL across 11 chain Synthetix, Zerolend, Ionic, Synonym Finance, Fulcrom Finance, Keom Protocol, Jax Finance, Vela Exchange
Express Relay’s searcher network currently includes many of the leading institutional and decentralized on-chain participants:
Auros, Caladan, Flow Traders, Flowdesk, Swaap Labs, Tokka Labs, Wintermute