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Peter
@0xpeter
How sr-AMM Neutralize Sandwich Attacks - And Enable Fair Launches (feat. Plasma AMM/gavel.xyz) 1/ Ever had your AMM trade front-run, paid inflated prices, then watched attackers profit from your slippage? That's a sandwich attack - extracting $300M+ annually from DeFi. https://x.com/jarxiao/status/1802759996020547734… Meet the sr-AMM: a new design that makes sandwiching unprofitable by design. #DeFi #AMM #MEV #Blockchain #Crypto 🧵👇
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Peter
@0xpeter
2/ Classic Sandwich Mechanics: 1️⃣ Attacker frontruns buy → price ↑ 2️⃣ Your trade executes at worse price 3️⃣ Attacker backruns sell → price ↓ → Risk-free profit for bot, worse execution for you, slippage loss for LPs
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Peter
@0xpeter
3/ Why Possible? Traditional AMMs: Instant price updates (x*y=k) Atomic block execution → Predictable price impact enables MEV extraction. https://threesigma.xyz/blog/amm/mastering-amm-order-books-and-intents#Current-Problems-in-AMM-DEX-Space-387d3f0e7915
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Peter
@0xpeter
4/ sr-AMM Solution: Time-locked price invariants (https://umbraresearch.xyz/writings/sandwich-resistant-amm…) Core innovation: - Swap prices locked per time window (e.g., 1 block) - Buys ratchet prices up permanently within a window - Sells must first offset accumulated buy pressure → No risk-free reversal opportunities.
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Peter
@0xpeter
5/ Gameplay Shift: Classic AMM: Attacker profits Δ = (your excess slippage) + (LP impermanent loss) sr-AMM: Δ ≤ 0 (attack becomes money-losing) Implementation: Extends constant-product math with time-based state tracking.
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Peter
@0xpeter
6/ Real-World Deployment: @ellipsis_lab s ' Plasma AMM (first sr-AMM in prod) implements: - Slot-boundary protections - Liquidity activation delays - Minimum spread enforcement Tradeoff: Slightly higher spreads (~5-10bps) for sandwich resistance. https://github.com/Ellipsis-Labs/plasma
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Peter
@0xpeter
7/ gavel.xyz Launchpad Case Study: Built on Plasma AMM for MEV-resistant token launches: - 2,480 participants | 30K+ SOL raised - $36M FDV | Zero frontrunning incidents Mechanism: - sr-AMM initial listing - Liquidity decay curve - No secret mempool tricks
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