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Arbitrage bot’s spam attack on the Polygon network generated $6,800 per day

An arbitrage bot managed to turn 14 ETH to 218.5 ETH simply by spamming the Polygon network for 120 days.
The growth of layer-two protocols has been one of the major stories of 2021 as the rising popularity of decentralized finance (DeFi) and nonfungible tokens (NFT) have driven transaction costs higher on the Ethereum (ETH) network effectively pricing out many participants. Earlier this year the Polygon network, formerly known as MATIC, emerged as one of the top contenders in the race for an effective Ethereum layer-2 scaling solution, and the project’s QuickSwap DeFi platform was also one of the more successful Uniswap clones.The platform was quite popular initially but as other platforms like Arbitrum and Optimism popped up, discussions about Polygon fell to the wayside and some traders even refer to the platform as “slow”. Data from Flipside Crypto shows that the low-cost capabilities of the Polygon network came under a

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We współpracy z: https://cointelegraph.com/news/arbitrage-bot-s-spam-attack-on-the-polygon-network-generated-6-800-per-day

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