Why use Advanced Frontrunning Protection
What is frontrunning ?
Frontrunning happens when an attacker learns about your intention to buy an asset (like an ERC20 token) and performs a large BUY transaction before you do – to increase its price. The attacker awaits you to buy the asset at an increased price (after his buy) and then just dumps the exact amount he bought initially, thus making a profit out of the price increase created by your buy transaction.
If you are interested in more technical details check this article https://omniatech.io/pages/frontrunning-protection/.
How often does this happen ?
Almost every block, which is every 12-15 seconds on Ethereum mainnet.
According to an investigation conducted by Cybernews, $280 million are drained by front-runners each month.
How to check if I was frontrunned?
OMNIA has implemented a dedicated online tool that is free to use for everyone to check their transactions. Currently it supports Ethereum and Binance Smart Chain.
Go to check.omniatech.io and paste your transaction hash or connect wallet to auto-check last transactions.
Why use OMNIA’s paid version instead of existing free frontrunning protection ?
At this point, everyone who has previously used free solutions such as Flashbots, knows the struggle with transactions constantly being dropped. This leads to maximum frustration when you just want your DeFi transaction to be performed in a fixed opportunity time window and suddenly you need to start troubleshooting the issue, use block explorer to see if it was dropped or not, re-sign another transaction with higher gas price but take into account if it needs to keep the same nonce to override previous one, etc. You got the point, it’s too complicated for the majority of users and requires technical expertise.
OMNIA fixes this, by having integrated a reinforced transaction logic, OMNIA RPC ensures that transactions are not dropped and are re-broadcasted until validators and/or miners pick it up. Everything is on auto-pilot, users don’t need to do anything in particular, just use OMNIA RPC.
How can I protect myself ?
Go to dashboard app.omniatech.io and generate your private endpoint for the chain & network you want. At the subscription customizing step, check the Advanced Frontrunning Protection checkbox.