The author cites an example: when whales dump their shares on transparent DEXs, they can be preempted by MEV bots and arbitrageurs, resulting in significant slippage. The author proposes an "on-chain dark pool" requiring a privacy execution layer; they are optimistic about Midnight's confidential smart contracts/ZK shielded state, which encrypts order matching and only discloses transaction results, thus resisting MEV and reducing slippage. DYOR