A detailed explanation of Cashmere: LayerZero-based cross-chain anti-MEV DEX aggregator

特邀专栏作者

2023-04-25 09:40

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Cashmere Labs previously won the second prize in the BNB Chain European Innovation Incubator Program in December last year, and was selected into the Binance Labs MVB Accelerator Program for the 6th quarter in April this year.

Originally written by Karen, Foresight News

According to a MEV previously released by EigenPhiReportReport

Over the weekend, Cashmere, a LayerZero-based cross-chain anti-MEV DEX aggregator, released its initial public testnet. As a project selected for Binance Labs' MVB Accelerator, will Cashmere set off the "LayerZero craze" again after the LayerZero-based full-chain lending protocol Radiant Capital became popular? Today Foresight News will give you a brief introduction to the background of Cashmere and its anti-MEV attack design.

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What is Cashmere?

Cashmere (translated as "cashmere" in Chinese) has not announced the background of the team. The CEO's official Twitter account is @0x Reliq, but no further information has been found yet. The project team, Cashmere Labs, previously won the second prize in the BNB Chain European Innovation Incubator Program in December last year, and was selected into the Binance Labs MVB Accelerator Program for the sixth quarter in April this year.

Cashmere is built on LayerZero, which will aggregate DEXs on multiple chains, and then provide users with cross-chain exchange services. At the same time, it will recommend a better exchange route, but at this point, Cashmere will also consider MEV attacks. Help users avoid MEV attacks during transactions.

In terms of aggregation, Cashmere will initially aggregate 11 chains, and the testnet has been launched on Ethereum Goerli, Polygon Mumbai, BSC Testnet, Arbitrum Goerli, Avalanche Fuji, Fantom Testnet, Optimism Goerli, Base Goerli, Linea zkEVM Testnet, Polygon zkEVM Testnet, Metis Deployment is done on Goerli.

What kind of countermeasures does Cashmere take in the anti-MEV attack design in the cross-chain DEX aggregator?

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How does Cashmere achieve resistance to MEV attacks?

Cashmere in September last yearexpressexpress

, Cashmere has developed a variety of MEV preemption mechanisms to help protect the interests of users.

For example, the target asset that the user wants to get back on the target chain can only be known by the Cashmere verifier. Due to the use of ZK-like proofs, ordinary MEV sprinting robots will not be able to see it on the chain.

As another example, on Ethereum, users will be able to hide their transactions from the Ethereum mempool and provide the option to use private RPC flashbots through the Cashmere application to protect them from front-running transactions. On other L1 and L2, Cashmere has developed a front-run protector tool. This tool is based on the liquidity of exchanged assets on Cashmere (on the source chain and the target chain), and calculates the best slippage value for user transactions, allowing MEV to take the lead There is nothing profitable for the attacker.At the end of last month, when Cashmere explained its MEV strategy, it stated that it calculated the optimal slippage for users from which MEV robots could not profit by conducting attack profit simulations. The specific calculation method can be stampedthis

Of course, Cashmere is still in the early stage of the test network, and the current App experience is not smooth, including operations such as exchange operations, signature calls, and transaction processing, which are relatively slow and need to be continuously optimized.