FairySwap is the first decentralized exchange (DEX) to launch on the Findora blockchain, creating an innovative new type of DEX that is privacy-focused and front-running resistant.
DEXs face many challenges, and public blockchains like Ethereum make user data public. Wallet addresses, transaction amounts, transaction dates, asset types – are all visible to anyone who looks.
This creates vulnerabilities that hackers, miners, and wealthy traders often exploit. Miner Extractable Value (MEV) is an attack where miners will arbitrarily rearrange transactions in a block to give themselves better trades. Hackers detect transactions before they fully execute in order to jump in and steal the price the original trader wanted.
These attacks have cost users over $761 million USD in the last two years, making Ethereum an adversarial environment that some call a “dark forest.”
In the midst of that forest is FairySwap, a safe place where traders from many different blockchains can conduct business without broadcasting their actions. Using the zero-knowledge proof foundation provided by Findora, FairySwap gives traders secret on-chain identities to make their data publicly verifiable without making it public.
FairySwap is a multi-chain DEX that supports tokens in many different crypto ecosystems. Findora’s powerful EVM makes it a perfect environment for cross-chain swaps, and its groundbreaking privacy technology may allow users to pass regional KYC requirements without needing to reveal any personal data.
The CertiK partnership helps keep FairySwap safe from direct attacks, and results in a safer environment for traders on this first-of-its-kind privacy DEX.