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Alfred: How does the sniper Bot created by Flashbots Lianchuang solve MEV attacks?

Jaleel加六

Read this article in 12 Minutes

One article explains in detail the background, working principles and usage tutorials of the Alfred team

Following Maestro, Unibot, and Banana Gun, Telegram Bot has added another member, Alfred, becoming a small hot topic in the past two days.

According to official documentation, Alfred's founder is Stephane Gosselin, co-founder of Flashbots. Stephane Gosselin and Phil Daian founded Flashbots in 2020. In recent days, many communities and KOLs have been spreading the word about Alfred, referring to Stephane Gosselin as the "father of MEV". BlockBeats has found that this claim is somewhat exaggerated.

The concept of Miner Extractable Value (MEV) was first proposed by Phil Daian in a paper called "Flash Boys 2.0". Although the father of "MEV" may have gone a bit too far, Stephane Gosselin, co-founder of Flashbots, has also made contributions to the MEV field and can be considered an OG in the MEV industry.

Currently, Ethereum implements PBS through MEV-Boost, a software provided by Flashbots, which is run by validators. It allows randomly selected block proposers to auction off the right to create the most profitable block to the highest bidder. So far, PBS has achieved the popularization of MEV rewards by only allowing stakers to participate without the need for complex MEV strategies. However, other parts of the MEV supply chain still face risks of centralization and censorship.

This chart shows the main components of the MEV supply chain. According to DeFi researcher Chris Powers in his article "MEV resolution: Are we there yet?" (source: https://www.theblockbeats.info/news/46070?search=1), the term was first introduced by Stephane Gosselin.

However, at the end of 2022, according to BlockBeats, Stephane Gosselin resigned from the team due to a disagreement over his desire for validators to support uncensored relays. At the time, Gosselin stated in a statement that maintaining censorship resistance is crucial for a diverse and competitive MEV ecosystem. "In the short term, I hope validators can avoid connecting to relays that enforce censorship. Economic pressure from block space providers to enforce censorship will help prevent over-censorship."

Alfred: A Sniper New Coin Trading Bot that Solves Sandwich Attacks

The previous trading bot Banana Gun, which specializes in sniper trading, had a high number of daily active users during its initial launch period, surpassing Unibot and even approaching Maestro. This has proven that sniper trading is a genuine demand among users.

However, Alfred clearly has a better understanding of MEV research. In Alfred's view, users will encounter significant friction when accessing Crypto and DeFi through traditional methods.

First of all, when using a wallet, you usually encounter rough wallet applications or confusing browser extensions; secondly, establishing a transaction is a complex and overwhelming experience, requiring you to choose the DEX or frontend to use, and then understand how to set slippage, basic fees, and priority fees; at the same time, for ordinary users, there are fewer functions besides "I want to exchange token A for token B", and functions such as sniper new token releases are reserved only for highly complex participants.

The most important thing is that the encrypted memory pool is a dark forest, and ordinary users will always get rekt by getting ahead of the game, being sandwiched in the middle, or just getting bad execution on their orders.

According to official documentation, Alfred is a fast and secure trading bot that is directly built into Telegram. With just a few clicks, users can add the bot to Telegram and gain access to an easy-to-use crypto wallet and a full suite of advanced trading tools directly within the Telegram app interface. Alfred will become the user's trading butler, helping with holding, buying, selling, and sniping tokens with just a few clicks. All of the user's trades will be completely private and protected from adversarial actors such as sandwich bots and frontrunners, ensuring the best execution for the user in their trades.

Currently, Alfred (AlfredTradesBot) only appears as a Telegram bot, allowing users to directly buy, sell, and snipe tokens on Ethereum from their Telegram accounts. However, in the future, Alfred will serve as the gateway and platform for all DeFi and crypto activities.

Alfred related MeMe pictures

Alfred Sniper's Working Principle

When you want to snipe an upcoming token release, you can set up a snipe in the Alfred robot. You can only set up a snipe for tokens/pools that have not yet been activated for trading. If you want to buy an existing token, simply click the Buy function instead of sniping.

Then, Alfred monitors the memory pool of the blockchain for pending target transactions. A valid target transaction is one that, if followed by a buy transaction, will be valid (not reverted). Common target transactions include Pool_creation/liquidity_add and Trading is un-paused.

When Alfred sees a valid target transaction in the memory pool, it will create a bundle containing your sniper transaction directly after the target transaction and attempt to log the bundle onto the chain. If multiple Alfred users try to snipe the same token, it will bundle all the snipes together and sort them by bribe amount. In other words, those who are willing to bribe more will buy first.

How to use Alfred

1. Create Wallet

Similar to other Telegram Bots, add Alfred to Telegram by using the link, then click Start to set up your wallet and trading account.

After adding Alfred bot to your Telegram account, you will immediately generate your wallet. The next step is to deposit some Ethereum to fund your wallet.

Due to the mechanism of the Ethereum blockchain, you need some Ethereum (ETH) in your wallet to pay for gas fees when making transactions. By sending some Ethereum to the wallet address generated for you, you can store some Ethereum in your wallet. If you want to sell or trade other ERC20 tokens, you should also send them to this address.

2. Send ETH and Tokens

To send ETH or tokens from your Alfred wallet, click on Wallet > Send. Specify the currency (token or ETH) and the amount you wish to send, enter the destination wallet address, and then click Press to continue.