Demex Daily #196: Pyth Network Launches Express Relay to Combat MEV

What’s Interesting Today:

Pyth Network has introduced Express Relay, a new decentralized solution aimed at mitigating Miner Extractable Value (MEV) issues in DeFi. By connecting DeFi protocols directly to a network of searchers via protocol-controlled auctions, Express Relay bypasses miners, enhancing market efficiency and reducing transaction costs. This system encourages competitive bidding among searchers, allowing protocols to save money and potentially enhance liquidation rewards. Major DeFi players, including Synthetix and ZeroLend, are adopting Express Relay, which was launched at the Pyth Agora 2024 summit. This initiative is part of a broader effort to preserve the fairness, efficiency, and decentralization of blockchain systems by reducing the adverse impacts of MEV.

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Zero Hash, a leading platform for crypto and stablecoin infrastructure, has integrated the SUI token from the Sui blockchain into its offerings. Sui is known for its speed, security, scalability, and supports nearly instant transactions up to 297,000 per second. This integration allows Zero Hash's customers to access Sui in compliant jurisdictions, leveraging Zero Hash's APIs and SDKs to incorporate blockchain technology seamlessly. This addition expands Zero Hash’s capabilities, which already include over 65 digital assets and 22 blockchains, facilitating new forms of global money movement and value transfer.