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What is MEVerse?

MEVerse (MEV) is a cryptocurrency that operates on the Optimum Blockchain Metaverse Platform, founded by Kyle Son and Henry Hong. It aims to provide a harmonized blockchain game and metaverse experience, offering features such as yield farming, delegate farming, auto-compounding, and a converter between chains. MEVerse has a circulating supply of approximately 1.72 billion tokens and a maximum supply of 2.01 billion tokens.

How is MEVerse used?

The crypto MEVerse, also known as Maximal Extractable Value (MEV), is a phenomenon in the cryptocurrency space where miners or network validators can extract additional value by rearranging and reordering transactions waiting for confirmation. This is possible due to the decentralized nature of blockchain technology, where transaction orders are not rigidly enforced, allowing miners and validators to sequence transactions within a block to maximize their profit.

How MEV Works

In both proof-of-work (PoW) and proof-of-stake (PoS) consensus mechanisms, pending transactions are held in the blockchain's mempool, a publicly accessible waiting area. Miners or validators select and sequence these transactions to create a block, which is then verified and added to the blockchain. While they should prioritize transactions by gas fees, the transparency of the mempool allows for other profitable opportunities, such as arbitrage, sandwich attacks, and liquidations.

MEV Strategies
  • Arbitrage: MEV searchers detect price differences across exchanges and execute transactions to profit from these differences.
  • Sandwich Attacks: MEV bots place transactions before and after a large trade to benefit from the price change caused by the trade.
  • Liquidations: MEV bots monitor lending platforms for signs of imminent liquidation and submit trades ahead of the liquidation to profit from the resulting price movements.
MEV Extraction

MEV extraction is mainly carried out by independent network participants known as "searchers," who use complex algorithms and bots to detect MEV opportunities and generate profit. These searchers pay high gas fees to incentivize miners or validators to include their transactions in target blocks, deriving additional value. In some cases, searchers partner directly with miners or validators for MEV extraction.

MEV on Different Blockchains

MEV is not limited to Ethereum. It also occurs on other blockchains and smart contract platforms, such as Solana, although the manifestations differ due to their unique designs and consensus mechanisms. For example, Solana's Proof-of-History (PoH) mechanism makes it difficult to rearrange transactions for MEV extraction.

Protection from MEV

To protect against MEV, users can employ strategies such as using private and MEV-protected transaction networks, like Merkle.io, which helps prevent negative externalities created by MEV.

How do I store MEVerse?

To store MEVerse (MEV) tokens securely, you have several options:

  1. Exchanges' Wallets: You can store your MEVerse tokens on exchanges like Binance Wallet, KuCoin, or MEXC. This is a convenient option, but keep in mind that exchanges' wallets are "hot wallets," which means they are always online and potentially vulnerable to hacks.

  2. Crypto Wallets: You can use third-party crypto wallets like Trust Wallet or Atomic Wallet, which offer more security than exchanges' wallets. These wallets are also "hot wallets," but they are designed to be more secure and offer features like encryption and private key management.

  3. Cold Wallets: For maximum security, consider using a "cold wallet," which is a wallet that is not connected to the internet. There are two types of cold wallets:

  • Paper Wallets: These are generated offline and store your public and private keys in the form of QR codes. You can print and store them securely.
  • Hardware Wallets: These are physical devices that store your cryptocurrency and keys. They are highly secure and suitable for storing large amounts of coins or tokens.

When choosing a storage method, consider your needs and the level of security you require. If you plan to hold your MEVerse tokens for the long term, a cold wallet is the safest option.

How to buy MEVerse?

To buy MEVerse (MEV) tokens, follow these steps:

  1. Create an Account:

    • Register on a cryptocurrency exchange that supports MEVerse trading. Examples include Binance, Huobi, and MEXC Global.
    • Verify your identity and secure your account by enabling two-step verification.
  2. Fund Your Account:

    • Use fiat currency to buy a cryptocurrency like USDT, ETH, or BNB, which can be traded for MEVerse. This can be done through the exchange's OTC trading service or by using a financial service platform like PayPal or Robinhood.
  3. Transfer Funds:

  • Transfer the purchased cryptocurrency (e.g., USDT, ETH, or BNB) to the exchange that supports MEVerse trading.
  1. Buy MEVerse:

    • Navigate to the exchange's Buy & Sell section and select MEVerse (MEV) as the cryptocurrency you want to buy.
    • Choose the desired order type, such as Market Order, Stop Order, or Limit Order.
  2. Transfer to Wallet:

    • Once you've purchased MEVerse, you can hold it in your exchange account or transfer it to a personal cryptocurrency wallet for additional security and passive revenue opportunities.

Remember to research the exchange's reputation, fees, and user reviews before making a purchase.

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History of MEVerse

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How MEVerse works

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MEVerse's strengths

MEVerse's risks

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