by Toronto, Canada, 7th August 2024, ZEX PR WIRE, Verus, the innovative blockchain protocol behind the MEV-resistant DeFi protocol, announces a milestone achievement of nearly $14 million in trading volume for July 2024, marking its highest monthly volume to date. This record-breaking performance highlights the growing adoption of Verus’s unique solution to malicious Maximal Extractable Value (MEV), endemic in blockchains like Ethereum.
The Verus community will showcase their technology at the upcoming TUM Blockchain Conference in Munich, scheduled for September 12-13, 2024.
“Reaching $14 million in monthly volume is a testament to the increasing trust and adoption of the Verus DeFi MEV-resistant protocol,” said Michael J. Toutonighi, lead developer of Verus. “We’re excited to build on this momentum and demonstrate the Verus Protocol dApp building technology at the TUM Blockchain Conference.”
The Verus Protocol processes DeFi transactions simultaneously rather than sequentially, effectively eliminating front-running, back-running, and sandwich attacks. This approach ensures fair pricing, enhanced liquidity, and a more secure trading environment for all users.
Key features of Verus DeFi are:
- MEV resistance through simultaneous transaction processing
- Fair pricing for all conversions within the same trading pair
- Enhanced liquidity through order offsetting
- Low conversion fees of 0.025-0.05% to power the protocol, no counterparty or intermediary required
- Ethereum compatibility via the non-custodial, consensus proven bridge
The features of the Verus Protocol also includes:
- Self-sovereign, friendly-name, revocable & recoverable identities as a rent-free namespace for holding funds and connecting data
- Ability to launch currencies (e.g. liquidity pools and tokens) or blockchains from identities
- Unlimited, permissionless scalability
- Truly decentralized, credibly neutral infrastructure—no ICO, no premine, no dev or founder fees
Communities with existing ERC-20 tokens are encouraged to explore the benefits of migrating to the Verus ecosystem, particularly in light of its fair MEV-resistant DeFi, self-sovereign identity protocol and security for their users due to implementing all that functionality at the protocol layer.
The Verus Protocol is fully functional and accessible through Verus Mobile, to be found on Google Play and App Store. Interested individuals can experience the MEV-resistant DeFi firsthand by downloading the app or by meeting Verus community members at the upcoming conference.
About Verus:
Verus is a blockchain protocol that is a fundamentally different and better protocol to build Web3, and to empower communities and individuals. With Verus you can build dApps at any scale—fast, easy, and low-cost.
For more information, visit www.verus.io or join the community Discord via www.verus.io/discord.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Economy Extra journalist was involved in the writing and production of this article.
