SNIPE SETTINGS
In this section you can learn more about how to set-up your snipe settings
Mizar sniper bot relies on the Mizar Block-0 technology, with the primary goal to enable Mizar traders to be the first to snipe a token in the same block of its launch.
Mizar will always aim for the first buy when trading begins. If the transaction fails, you won't lose your bribing fee. Additionally, you can opt to activate auto-retry and attempt to snipe in the subsequent block, should the initial attempt at block-0 be unsuccessful.
The block-0 snipe can fail for many reasons, including the miner not accepting the bribing fee. The greater the number of wallets engaging in the block-0 snipe, the higher the chance of securing the snipe.
Amount: the amount of ETH you want to snipe.
Bribing Fee: the amount of gas fee you will pay to snipe at block-0. In case the block-0 snipe fails, you won't pay any bribing fee. Read here to learn more.
Auto Retry: enable it to snipe at block-1 in case the block-0 is not accepted.
Backup Bribing Fee: the amount of bribing fee you will pay for sniping at block-1. This fee is paid only if the bot sniped at block-1.
Slippage: slippage threshold for executing your block-1 snipe.
How does the Mizar Sniper Bot work?
The foundational functionality of Mizar Block-0 is structured around four key pillars:
Mempool Monitoring: Actively overseeing the mempool to identify new sniping events—transactions in which a token effectively becomes tradable.
Token Sniffer: Systematically scanning the token contract to assess critical properties such as taxes, honeypot, and other essential information.
Bundling: Grouping the snipes of Mizar's traders into a single bundle for streamlined processing.
Bribing: Initating the bribing process of Ethereum miners for transaction prioritization.
The Mizar Bot automatically monitors the tradability of the token in the mempool. As soon as a liquidity pool is deployed, Mizar will simulate to buy and sell the token. If the simulation is passed, then the Mizar Bot detects a new sniping event, and will initiate the bundling process.
Every time a sniping event is detected within the mempool, the Mizar sniper bot groups all qualifying snipes into a bundle. Should your snipe not meet your security settings, then it won't qualify for the bundle. Additionally, should your swap exceed the maximum buy limit, the bot automatically adjusts your buy amount to the maximum allowed. Snipes with an amount below 0.025 ETH are not accepted in the bundle.
This bundle, is associated with an aggregate bribing fee, representing the sum of individual bribing fees contributed by each Mizar users' snipes. An Ethereum bribe refers to an additional fee offered by a trader or a group of traders to incentivize miners to prioritize their transaction over others in the Ethereum transaction pool (mempool). These are not bribes in the traditional, unethical sense, but rather legitimate and transparent mechanisms built into Ethereum's fee market.
If the miners approve the offered bribing fee, they promptly order and execute the snipe transactions, right after the detected sniping event transaction, in accordance with the directives of the Mizar bot. Within the same bundle, the transactions of individual Mizar users are arranged based on their respective bribing fees.
Should the miner decline the bundle, no fee will be incurred, and the swap will not be executed. Mizar traders still retain the opportunity to snipe in block-1 by activating the auto-retry function.
Mizar has implemented a rapid and low-latency infrastructure to ensure timely bundle submission before the block is sniped. However, it's imperative to understand that acceptance is not guaranteed, given that only a single bundle can be accepted in the same block. Consequently, if another bundle appears more enticing to the miner, the Mizar bundle may face rejection.
In general, the greater the total bribing fee of the bundle, the more attractive the offer, the higher the chances of being accepted.
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