FAIR is an upcoming blockchain with a standard tailored to AI activity. The chain, an evolution of Skale’s gas-free seamless network, will offer protection from Maximum Extractable Value (MEV) transactions.
AI agents are growing their presence, with some displaying analytical abilities and the potential to trade or pick DeFi operations. Most are still using the existing infrastructure of public chains, especially Ethereum, Solana, and BNB Smart Chain.
On-chain data shows Ethereum still has more than 32% sandwich trades, with regular attempts at sandwich attacks.
All three are threatened by front-running and MEV losses. Even with measures against sandwich attacks, most DEX levy a small tax based on MEV ordering, requiring the payment of premium fees or bribes.
FAIR aims to eliminate MEV risk
FAIR aims to launch as the first blockchain compatible with AI agents, protecting them from front-running and malicious actors. Most blockchains are threatened by some form of Maximum Extractable Value (MEV) transaction ordering, often leading to an inability to use the chain or direct losses.
FAIR aims to end the problem of the hidden MEV task. The chain will apply protection at the protocol level, running BITE (Blockchain Integrated Threshold Encryption). FAIR will launch as a new Layer 1 chain, purpose-built for a new generation of DeFi and Web3 AI agents. Transactions will not be front-run, censored, or used to cause personal loss. The goal of FAIR is to produce a new wave of users with the help of AI.
Unlike the Ethereum Virtual Machine, FAIR offers a new execution environment suitable for high-frequency trading, institutions, and AI agents. The chain offers asynchronous processing and fast database access. The chain is completely built from scratch in C++ for near real-time execution.
The chain allows for the creation of a new DeFi ecosystem, where no user can be front-ran, and even AI agents can execute their strategies without tracking. The chain aims to offer tools for capital raising, prediction markets, voting, and other apps.
FAIR extends the Skale ecosystem
FAIR is the next phase of the Skale chain ecosystem. Existing SKL tokens will be burned to run FAIR validator nodes, while a new native FAIR token will be used on the L1. To align the user bases of the two networks, a portion of FAIR will be airdropped to SKL holders, pending a governance vote. The airdrop will follow the launch of the FAIR mainnet and the finalization of tokenomics.
Following the news, SKL tokens bounced from their recent lows, rising to $0.02. SKL is a Binance-listed asset with another highly liquid market on HTX. Skale is one of the well-funded projects, raising $49.5M from a mix of VC funding and public token sales. The project was backed by ConsenSys, Blockchain Ventures, Galaxy Digital, Multicoin Capital, and others.
Skale currently locks around $300M in total value, hosting its own version of SushiSwap. With FAIR, Skale aims to grow its app ecosystem and tap the recent DeFi growth.