INTRODUCTION TO MEV BOT 🔥Code Name:Prometheus🔥

Prometheus (“The Forethought”) is the Titan honored chiefly for stealing fire from Zeus and giving it to mortals for their use.

Greetings from El Mago,

We are finally here! In the last eight months we have been committed to developing a new exclusive product for all NALI Project holders, and today we present it to the entire crypto community. The development required a huge effort from our team, but the result was exceptional and unique.

We are focused on always offering new products. After Altair and its decentralized funds, we are happy to introduce you to the new born in the NALI Project product family, code name: PROMETHEUS.

Prometheus faces the great challenge posed by the dark forest of the blockchain.

Prometheus in Greek mythology is the titan who steals fire from the gods to give it to men.

The NALI Project team puts in the hands of all cryptocurrency lovers the professional tools to compete with institutional investors and the best global teams of crypto engineers out there.

We are talking about the highest and most hidden level of the blockchain, we are talking about MEV BOTs! Let me tell you what MEV bots are in a nutshell, they are bots that scan mempools to establish possible revenue opportunities before other users do.

NALI Project is fully committed to decentralization and PROMETHEUS also follows our philosophy, you will only use non-custodial wallets and you will not share any precious PRIVATE KEY with us, your money is in your hands!

Our MEV bot operate in the ETHChain and on the major Decentralized EXchanges (DEX), Uniswap v2, Uniswap v3, ShibaSwap, SushiSwap, PancakeSwap.

The time has come to enter the dark forest, don’t worry, we will hold your hand during the journey and our lantern will illuminate the path. We have made something usually very difficult simple just for you. We have created a really user friendly dashboard, very simple and intuitive to use. You will become familiar with a technical but ultimately easy to understand terminology, simply read this comprehensive guide and come back to it anytime you need it.

DEFINITIONS

BOT: abbreviation of the word robot, in computer science they are programs that automate tasks that would be too burdensome or complex for a human being, allowing higher performance in less time.

MEV: the Miner Extractable Value represents the value that can be extracted by miners directly from smart contracts, these profits derive from the control that the miner has over the ordering of transactions in a series of records called blocks.

BLOCK: to understand the concept of a block, you can imagine a predefined set of recorded transactions, once a block is finished, the next one will be formed, thus forming the blockchain.

MINER NODES (or validators): miner nodes validate new transactions and add them to the block they are building after verifying the entire blockchain, for this work they receive a reward and order the transactions based on the gas price.

MEMPOOL: it is the combination of the words “memory” and “pool”, it indicates the space in which the transactions that will have to be processed by the miner nodes are inserted.

PGAs: the Priority Gas Auctions are real gas auctions, the participants in the PGAs competitively offer higher transaction fees to obtain from the miner nodes a priority sorting of their orders with respect to common transactions.

POSITION BLOCK: Indicates the position of the transaction in the ordering of the block with respect to all other transactions.

ATTACKER: is the subject who uses MEV bots in order to obtain a competitive advantage in sorting orders in the block.

VICTIM: it is the common user, not taking advantage of the PGAs who suffers the action of the MEV bot and his transaction order will have a higher positioning in the block than the attacker’s order.

BOT MEV TYPE: indicates the category of attack that the MEV bot is carrying out, there are different types of MEV attacks, in this article we will analyze three of them, front running, back running, sandwich; there are other types of MEV attacks, such as sniper, arbitrage, liquidation, time bandit attack, but the development of these bots will come later in time.

FRONT RUNNING: indicates the ability of the MEV bot to anticipate the victim’s transactions, before they are executed, by paying higher transaction fees to the miner nodes in order to take advantage of earning opportunities.

BACK RUNNING: Indicates the ability of the MEV bot to execute a transaction immediately after the victim’s transaction has been executed.

SANDWICH: indicates the ability of the MEV bot to combine the action of front running and back running in a single tool, increasing performance through the construction of the operation within a bundle that will be transmitted directly to the miner nodes and participating in competitive at gas auctions.

BUNDLE: package of transactions in predefined order, including front run action of the attacker, transaction of the victim and back run action of the attacker, sent to the miner node.

FIFO: we indicate as First In First Out, the first MEV bot that uses the transit method in a transaction queue through a succession of purchases and sales according to this ordering BUY1, BUY2, SELL1, BUY3, SELL2, …. , BUYn-1, SELLn-2, BUYn, SELLn-1, SELLn.

SWAP VALUE: indicates the amount of capital used by the attacker.

TARGET VALUE: indicates the minimum amount of capital inserted in the victim’s transaction order and which is continuously monitored by the MEV bot in the mempool.

Now that we have explored all the terms that will be useful for you to start your enlightened path in the dark forest, we can proceed to analyze the MEV bots that we have developed for you.

Dashboard of Prometheus MEV Bot, available on our Altair platform.

SANDWICH BOT

The SANDWICH bot traps the transactions of the victim users between the front running transaction and the attacker’s back running transaction. The SANDWICH bot works by building a bundle and is not visible in the mempool, making it more difficult for other MEV bots to intercept it. The mechanism behind this process is as follows:

1) Analyze the operation with our “Profitability calculator” tool

2) Setting of the dashboard

3) Starting the bot

4) Scan the mempool

5) Identification of the victim’s buy transaction within the mempool

6) Construction of the bundle including the front run action of the attacker, the transaction of the victim and the back run action of the attacker

7) Participation in the PGA

8) Execution of the miner node

9) Continue/Stop

DETAILS ABOUT Mev BOT

We now provide some useful details for the correct functioning of the MEV bots, reserving the right to update this list for the future, based on the upgrades that will be released:

- The MEV SANDWICH bot is active only on ETHChain and in particular on the dex of Unisvap v2, Uniswap v3, Shibaswap, Sushiswap and Pancakeswap

- SANDWICH bot can never suffer an attack from another MEV bot but if another MEV bot is faster the SANDWICH bot will not start

BACK TO THE FUTURE

Sniper Bot: through the sniper bot, the aim is to purchase a new token as soon as liquidity is added to it and the exchange function in the pool is enabled. The sale can take place both when a limit price is reached, and when a % profit is reached, or it can be done manually.

Flashloan arbitrage: bots programmed to search for arbitrage opportunities in the price disparities between the tokens listed on different trading platforms, while taking advantage of the possibility of accessing flash loans in which the transaction is closed in a single transaction.

CONCLUSIONS

The MEV bots presented in this article are fantastic but the development of our products is not finished yet, the next MEV bots that we will release are:

- SNIPER

- FLASHLOAN ARBITRAGE

We want to provide the crypto community with the ability to operate and compete with institutional investors, as well as the best programming and trading teams in the crypto market.

We encourage you to thoroughly study all tokens you intend to trade on before launching MEV bots. There are many malicious tokens on the market that are launched every day and operate in countless ways.

These checkers can help you a lot:

- GoPlus Security — LINK

- Honeypot.is — LINK

- TokenSniffer — LINK

However, remember that these tools will never provide you with complete security and scammers are always looking for new ways to steal your funds, so we invite you to also analyze the contract on Etherscan paying great attention to the team’s ability to modify taxes, insert wallets in blacklist and whitelist, insert time limits in token trading, block trading, insert maximum and minimum limits in the purchase and sale of tokens, possibility to mint new tokens, withdraw liquidity at any time, and any other action that can put your capital at risk.

Then Prometheus, in his perplexity as to what preservation he could devise for man, stole the art of fire ( since by no means without fire could it be acquired or helpfully used by any ) and he handed it there and then as a gift to man.

Defend your money by always paying great attention, we advise you to test the first operations on the token with small amounts, so, in case of incorrect evaluations your loss will be minimal.

Never share the private key of your wallets with anyone and remember that the NALI Project team will never ask you to share it.

Remember that MEV bots are a tool, but the success of the operations depends on you, your knowledge, your use and your settings!

Follow us on all our social channels, come and find us, you can ask us all the questions you want!

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Stay tuned!