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    Rebar aims to launch Bitcoin-native MEV Shield by end of 2024: CEO

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    Rebar Labs plans to introduce a Bitcoin-friendly system called Shield to protect traders from harmful practices such as front-running, aiming for a rollout by the end of 2024. The Shield system would aim to unify fragmented decentralized exchanges (DEXs) in the Bitcoin network and boost yields for Bitcoin miners. CEO Alex Luce sees the currently small scale Bitcoin DeFi trading volume as a new space with growth potential, alternately, traders could switch to Bitcoin layer-2 solutions if trading doesn’t improve in the next year.

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    Rebar Labs is planning to roll out the first Bitcoin-friendly system that helps to shield traders from dodgy trading practices, like front-running, by the end of 2024, according to CEO Alex Luce in an interview with Cointelegraph.

    Bitcoin’s new decentralized exchanges (informally known as DEXs) and layer-2 solutions (also known as L2s) have breathed new life into the original blockchain network. However, they have also introduced new risks for traders, such as harmful front-running scams.

    Luce explains, “At present, talking about front-running, it’s something that’s happening quite a lot in Bitcoin.”

    Rebar’s solution, called Shield, could potentially become Bitcoin’s answer to Ethereum’s Flashbots. Flashbots is a program that has safeguarded around $43 billion worth of DEX transactions from front-running since 2021, according to Dune Analytics.

    The objective of Shield is to protect traders from nasty front-running, while promoting collaboration among the fragmented DEXs in the Bitcoin network.

    Luce mentions that, “DEXs in Bitcoin aren’t very cooperative and their liquidity is scattered. That’s where practical front-running comes in—a person can come in and even out the prices, assisting users with trading.”

    Shield also plans to increase returns for Bitcoin miners, who process and post the transactions to Bitcoin’s ledger.

    Luce adds, “We’re in talks with most of the big miners as we plan to launch Shield with a considerable amount of Bitcoin’s network power backing it.”

    Bitcoin started as a simple way for people to pay each other but a 2021 upgrade known as Taproot made the network capable of carrying out more intricate activities, such as creating and trading different sorts of tokens or creating non-fungible tokens (NFTs).

    Bitcoin’s decentralized finance (or DeFi) is still very new, and it’s mostly used by crypto-savvy traders for now.

    Luce explains, “Right now, the daily trading volume is only in the millions which is hardly significant. We see the space as still very new where there aren’t that many users engaging with it.” He adds that the target user now is likely to be very different from the user they’re hoping for in 1 to 2 years.

    Meanwhile, Bitcoin-focused L2s, like Babylon, Core Chain, Rootstock, and Stacks, are gaining popularity. The total value held in Bitcoin’s L2s is roughly $2 billion as of October 18, according to data from DefiLlama.

    Luce warns, “In the next 12 months, if trading isn’t going well on Bitcoin, chances are you’ll switch to an L2. It’s a shame if that happens because Bitcoin is a fantastic market.”

    Source: Cointelegraph

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