Leveraging MEV to enable free trading. Not gasless trading, free trading.
We had proposed a few months ago an MEV enabled scaling solution that would aggregate trades on Sushi and execute arbitrage across multiple markets and venues. In exchange for this privilege, gross profits would be refunded back to the originating accounts (re: sushi traders).
We are now in a state of production readiness.
Minimal changes to the front end UI/UX was made. The only additions are a change in cache implementation to realize improved user experience when accessing the trading interface. Performance gains are documented in the pull request thread (note: benchmarking is as much art as science and do not take the alleged numbers to be 100% accurate).
Nothing. Trade settlement should not take in excess of 2-4 blocks longer (our cutoff time is 4 blocks within submission, otherwise it is sent to the network to be mined).
You will receive up to 90% of your transaction cost refunded to you within 60 blocks (it will be reduced to 35 blocks after 2-3 weeks of operation) - this is only for markets in which we are active in.
If you send a transaction for a market that is not eligible for the gas rebating process, we send it immediately to the network and it does not get processed by us.
Currently rebuilding and hardening our bare metal deployments, we expect to be able to take production load RPC requests (read: transaction submissions) before the 13th (yes, Friday the 13th).
EIP1559 Validation along with ensuring there are no issues with clients (e.g. geth / nethermind). Validation of gas pricing information and recording ensuring.
Improving multihop process as we are covering 52 pairs and expanding during this week to ensure the UI properly reflects the pricing. We have found a few edge cases and are working to resolve them.
During this week if you have questions or would like to discuss anything related to this or MEV in general feel free to reach out to me in the Sushi discord,
meridian (Sam Bacha)#5307.
if desired, transaction refunds can be done in SUSHI/xSUSHI. However we would need a vote for this.
We are willing to incentivize transactions/trading on Sushi.com with a programme if so desired
Multichain support is planned, we are speaking with two networks, which would you like to see to help bridge and establish the SushiVerse?