Whether you are in it for money, knowledge, (or power), the fact that you have found out about mistX.io likely means that you already have a solid understanding of the Dark Forest of Ethereum and how the issues within it are impacting the crypto space.
The likelihood is that you already have experience trading on both centralized and decentralized crypto exchanges, and you are now ready to go deeper into the rabbit hole, to find something more advanced.
This quest for knowledge and exploring new elements drives the Alchemist community, where we continuously encourage fellow Certified Alchemists to contribute, learn and build innovative ideas and creations – mistX.io is one such creation.
The tech behind it and why it matters
Powered by Flashbots technology, mistX effectively hides your transactions from front-running bots by bundling your transactions. Trading with mistX ensures the price you pay will not get jacked up by bots who try to take advantage of your trade with front-running or sandwich attacks.
A similar “real life” example is ticket bots, imagine all the tickets to your favorite concert/game were immediately sold out, now you could only get tickets from the resellers at a higher price.
What’s even worse is, in the case of trading crypto, chances are you won’t even realize you had been taken advantage of, and by the time you’ve figured it out, it’s already too late since you’ve already paid more than you were supposed to. Essentially you have been scammed (or worse robbed) and left wondering how much more of the precious token you could’ve bought.
Competitive pricing and transaction fees
mistX is also a Dex aggregator that automatically compares prices between Uniswap & Sushiswap to search for the best execution price. On top of that, there are instances where mistX also allows users to trade without extra ETH sitting in their wallets.
All mistX transactions have a gas price of 0. To avoid confusion, we would like to highlight that this doesn’t mean mistX is entirely fee-less as users still need to pay a transaction fee. Instead of paying gas to the miners, we pay them a tip, which is proportionately similar to traditional gas fees.
The tip is paid in ETH and it is either included in the trade or comes from the user’s wallet. With this being said, when swapping to or from ETH pairs, swaps can be carried out without the presence of additional ETH in the wallet, vice versa.
It is important to emphasize that the transaction fee on mistX is included in the quotation provided (i.e. priced into the swap), meaning it is taken directly from the transaction value (except for the miner tip when trading non-ETH pairs which are separately deducted from the user’s wallet). This is a critical point to keep in mind when comparing prices with other sources.
Other perks of using mistX
Aside from not needing extra ETH sitting in your wallet when trading ETH pairs, mistX also offers free cancelation. This means users have the option to potentially halt a transaction before it is carried out on the network without a penalty for doing so.
Furthermore, mistX users do not have to pay any fee for failed transactions. This is a huge benefit especially if you trade during high volatility with a relatively tight slippage.
It is important to note that due to the nature of bundled transactions on Flashbots, it’s possible the transaction may not be successful on your first attempt. If this is the case, please try again or adjust the transaction fee level to increase the chance of your transaction being accepted by miners.
Connections to the Alchemist Ecosystem
Alchemist has an ecosystem of products that are built on top of Flashbots and aims to increase user awareness about the issues Flashbots is trying to solve. In addition to mistX.io and Sandwiched.wtf, we’ve also launched Copper (a platform for open, transparent, and user-friendly token Fair Launch Auctions, powered by LBPs.) as well as an Aludel rewards program for our Crucible holders.
Users of mistX.io should know that a proportion of the transaction fee will be reserved to enrich future Aludel rewards programs. This incentivizes mistX users to mint their own Crucible and subscribe MIST-ETH LP to our Aludel rewards program via crucible.alchemist.wtf so they can benefit from all trades on mistX.io (More info on this to come soon).
In the meantime, we encourage you to use Sandwiched.wtf to check if your previous trades had been front-run and start using mistX.io today to protect your trade.
Last but not least, we invite you to join our community on Discord — if you haven’t already — to become a Certified Alchemist and help us find the Philosopher’s stone.