Formerly BitKeep Wallet, Bitget Wallet Unveils MEV Protection Feature
Bitget Wallet, formerly known as BitKeep Wallet, has recently released an upgraded MEV (Maximum Extractable Value) Protection feature. By teaming up with research and development organization Flashbots, the wallet is aiming to tackle the issue of MEV attacks on the Ethereum network and to provide users with a safer and more convenient on-chain trading experience.
The “MEV Protection” feature is automatically enabled by default on Bitget Swap, a swap function integrated into the wallet. It helps protect users from potential risks such as front-running and ‘sandwich attacks’ when they perform on-chain token transactions. Moreover, with the help of Flashbots’ MEV-Share protocol, Bitget Wallet returns MEV profits generated from transactions to its users, without requiring any additional actions from them.
MEV attacks take place when malicious actors manipulate and rearrange orders within a block, allowing them to illicitly generate value by forcing other users to incur losses. Flashbots is striving to refine the MEV market in order to achieve a more efficient, decentralized, and equitable on-chain environment, reducing the negative effects of MEV and pre-execution strategies.
The collaboration between Bitget Wallet and Flashbots, first announced at the beginning of the year, has provided Bitget Swap users with access to the Flashbots transaction bundling method. This mechanism allows them to circumvent MEV threats and transaction slippage. The latest update from Bitget Wallet has an upgraded “MEV Protection” feature, which is easier to recognize for users trading on Bitget Swap.
The partnership between Bitget Wallet and Flashbots works to minimize the detrimental effects of MEV on the market, improve transaction security, protect users from malicious actors, optimize transaction fees, and promote fairness and sustainable growth for all users in the Ethereum ecosystem.
Bitget Wallet, with its focus on swap trading, aims to be the most user-friendly and optimal Web3 trading wallet in the market. This collaboration is another demonstration of the platform’s dedication to offering users an unrivaled on-chain trading experience.
About Bitget Wallet
Bitget Wallet, previously known as BitKeep, is Asia’s largest and the leading global all-in-one Web3 multi-chain wallet. It provides users with an extensive array of on-chain products and DeFi services, including wallet functionality, Swap feature, NFT trading, DApp browsing, and more.
Having established a 5-year legacy, the wallet has garnered acclaim from over 12 million users worldwide and has secured partnerships with well-known industry players, such as Ethereum, BNB Chain, Arbitrum, Polygon, and others. This success is due to Bitget Wallet’s commitment to providing secure and convenient products and services.
In March 2023, Bitget, a major crypto derivatives trading platform, made a substantial $30 million investment in BitKeep, taking a controlling stake. Consequently, in August, BitKeep underwent a brand evolution and rebranded itself as Bitget Wallet.
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