Bitcoin Startup Satflow Targets 'Mempool Sniping' in New Token-Trading Rival to Magic Eden
Summary
Satflow has launched a decentralized exchange (DEX) targeting professional traders in the Ordinals and Runes ecosystems, offering a 0% fee structure initially, which is lower than Magic Eden's fees. The DEX aims to combat mempool sniping, a practice where users exploit transaction delays to prioritize their own transactions. This issue is more pronounced on Bitcoin due to its 10-minute block confirmation time. Satflow's trading model involves three transactions, making them "unsnipable in mempool." The platform seeks to provide a more efficient trading experience for high-volume traders, having recently secured $7.5 million in seed funding. Existing DEXs are criticized for not adequately addressing Bitcoin's unique trading challenges.
