Last Friday, the GetBlock community was invited to join Twitter Spaces for an open talk with our very own BD Manager, Paul, and Sharon, CBDO at MES Protocol, to discuss everything MES and cross-rollups. Here are some insightful takes on what makes MES Protocol stand out among other DEXs, what it has to offer to traders, liquidity providers, and Web3 developers, and what it looks to achieve in the near term.
Section One: Meet MES Protocol
Paul, GetBlock: Can you explain the key features and functionalities of the MES Protocol?
Sharon, MES Protocol: MES Protocol is a DEX designed to facilitate liquidity movement across rollups settling on Ethereum. With MES, users can trade assets between the rollups on a decentralized exchange with orderbook functionality — the whole experience made smooth and seamless for the end-user. Our key features are:
Alternatives in place: MES Protocol takes a shot at catching up with CEX-level experience by giving users the opportunity to trade any pair, stablecoins included. Additionally, users have a choice to either operate on a single chain or go cross-chain.
The cross-rollup trading is our defining feature: By engaging in cross-chain trading, MES users take advantage of the deeper liquidity of combined rollups.
Swap and bridge at one go: The MES Convert allows near-instant swaps with a built-in bridge between the rollups, with traders having to give no second thought to the background process.
Permissionless withdrawals: All the MES Protocol users enjoy withdrawing funds to any of the available rollups on demand.
The project went mainnet in April this year with zkSync Era, Arbitrum, Optimism, and Ethereum mainnets supported. However, MES Protocol is set to keep expanding the list of available chains by the end of the year.
P.: What are the main benefits of using the MES Protocol for liquidity providers and traders in a cross-rollup environment?
S.: Our core driver is to offer a one-stop shop for both traders and liquidity providers and allow them to forget about chains.
Traders: Are welcome to trade and withdraw to a rollup of choice without having to go through third-party bridges.
LPs: Are only required to deposit once to get their liquidity sprinkled everywhere and collect fee income from across the chains.
In essence, MES Protocol acts as an aggregator for both the demand and supply parties. By doing this, we can offer better rates for traders and higher returns for liquidity providers.
P.: Are there any specific requirements or considerations developers should keep in mind when connecting MES Protocol?
S.: Connecting to MES Protocol is a mere straightforward process. To tune single-chain swaps and cross-chain bridging with the protocol, DApp developers would need one single API call. It is to be noted that the API endpoint will be made available anytime soon.
Likewise, MES helps new rollups to easily bridge to other chains without going through L1, followed by a setting up process that takes less than 30 minutes. For developers, MES could be an ideal source of cross-chain liquidity for their new rollup.
Upon setting up, users are advised to keep track of the ETH balance on each chain and the trading account (the Vault).
P.: Security is a critical aspect in the world of DeFi. How does the MES Protocol address security concerns and protect users’ funds and transactions?
S.: First and foremost, we believe that it’s crucial to build on the right and safe Layer 1, which is why we choose to go with Ethereum. Secondly, we have implemented appropriate security measures on the protocol level:
Validium model and Merkel tree structure: for optimizing data storage.
Permissionless Withdrawals: to ensure the safety of user funds.
Escape Hatch mechanism and FBA Model: to prevent MEV attacks.
For check section Two, Three and Four follow this link …
