Jay Berg, renowned as the first to tweet the Bitcoin ticker symbol, has now introduced his most significant innovation yet: Sidepit. This new development marks a milestone in financial market exchange technology with the aim to revolutionize the landscape of bitcoin trading. 

Sidepit, currently in its private alpha phase for early adopters, emerges as a response to the challenges of front-running, also known as “MEV”, prevalent in today's decentralized markets. Sidepit addresses the growing market manipulation and unfair advantage exploitation. 

The initiative kicks off with the introduction of the Bitcoin L2 Sidepit, backed by Ordinals. This marks the initial step in a daring growth hacking strategy aimed at disrupting the fragmented US spot bitcoin markets for ETFs.

Fragmented liquidity

As billions pour into ETFs, large institutional players demand liquid bitcoin markets. However, current markets suffer from fragmentation and illiquidity, resulting in unreliable executions. The absence of regulations across bitcoin exchanges exacerbates these issues when trading Bitcoin. Wall Street fund managers are familiar with the challenge of bad exchange executions, and use OTC desks or run algos such as VWAP, instead of relying on exchange for fair market price.

Looking towards DeFi for a better exchange solution

Despite the hype, decentralized finance (DeFi), has proven to be ripe with manipulation, making HFT "Flashboys" seem tame in comparison. Can decentralized technology provide a better exchange, for bitcoin and traditional financial markets alike?

Enter Sidepit: The DeFi solution for exchange

Sidepit represents the answer. It serves as a digital iteration of physical trading pits, removing physical co-location, eliminating front-running, and disrupting latency arbitrage. The Bitcoin L2 Sidepit MVP, offers a glimpse into the future of exchange… Read full article here.