Introducing Alfred: A New Bot for Easy Token Swaps
Stephane Gosselin, former co-founder of Flashbots, has launched Alfred, a new Telegram bot designed to simplify the process of executing token swaps and protect against maximal extractable value (MEV) profits from transaction re-ordering.
After leaving Flashbots and becoming the CEO of Frontier Research, Gosselin partnered with Kolibrio to develop Alfred. The bot aims to address MEV issues in on-chain swaps caused by front-running and liquidity pool rebalancing on Ethereum while providing advanced trading tools and protection against MEV within the Telegram interface.
Gosselin expressed his excitement for Alfred, stating that it leverages innovative transaction supply chain technology to create seamless on-chain interactions.
Background and Departure from Flashbots
In 2020, Gosselin co-founded Flashbots, focusing on MEV research and development. However, he left the firm in October 2022 due to disagreements regarding reported censorship of transactions by the firm’s MEV Boost software.
The firm raised $60 million at a valuation of $1 billion in July 2023.
Competitive Telegram Bot Niche
Alfred enters a competitive landscape with existing projects like Unibot, Banana Gun, and Maestro. It targets Ethereum users by offering features for token sniping and swapping while protecting transactions from front-running by malicious bots.
Users can command Alfred in a Telegram chat to create a new wallet, generate a private key, and start swapping tokens directly within the chat interface.
Security Concerns and Revenue Models
Alfred’s emergence marks a departure from the common practice of anonymity among Telegram bot founders. While aiming for a non-custodial experience, the team acknowledges that it may not provide the same level of security as hardware wallets or web-based wallets.
The team is considering implementing a service fee for transactions made through the bot but does not currently have a dedicated token.
Hot Take: Improving User Experience in Web3
Alfred’s introduction represents a significant step towards simplifying token swaps and enhancing user security within the Telegram platform. While there are challenges to address in terms of security and user experience, Alfred’s innovative approach offers promising solutions for crypto traders seeking efficient and secure trading tools.
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