Pyth Network, a blockchain market and finance data oracle, has launched its latest product, Express Relay, as per the latest information shared with Finbold on July 11.
Launched on the Pyth mainnet, the new product offers a decentralized solution to Miner Extractable Value (MEV) issued prevalent in decentralized finance (DeFi) transactions.
Express Relay connects DeFi protocols with established searchers through protocol-controlled auctions for high-value transactions, such as liquidations.
Notable searchers integrated with Express Relay include Flow Traders, Wintermute, Auros, Flowdesk, Caladan, Tokka Labs, and Swaap Finance.
Enhancing liquidation on DeFi protocols
MEV allows miners and validators to gain more value from DeFi transactions via blockspace tips.
With Express Relay, however, transactions are awarded to the highest bidding searcher, removing miners from the equation.
Consequently, there is fiercer competition among searchers over transaction value, which
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