The Secret Network, a protocol focused on privacy for decentralized finance (DeFi), has launched SecretSwap, a front-running resistant and cross-chain decentralized exchange. It is now live on the Secret Network mainnet.
SecretSwap uses the SNIP-20 secret token standard and Secret Ethereum bridge.
“SecretSwap is the first front-running resistant, cross-chain [automated market maker]. Its architecture (being based on Secret Network) gives SecretSwap usability advantages, protects users from malicious bot activity, increases the availability of assets and keeps fees much lower than on Ethereum,” said Tor Bair, the Secret Foundation’s executive director and chairman, in a direct message.
DeFi privacy
According to Bair, SecretSwap works similarly to other AMMs, such as Uniswap or SushiSwap. However, because it’s based on privacy-preserving “secret” smart contracts, users are protected against front-running bots and other types of malicious activity.
Front-running is the…