> All of this is publicly visible and opens a lot of opportunities to harvest slippage etc. (lookup MEV-bots)
Basically, people can front-run your trades, and this is built into the market by design. Also, instead of the winner being the fastest like in tradfi, there is a competitive auction where participants pay for priority. See, e.g., https://archive.ph/W0nvi or pages 7...9 of https://assets.ey.com/content/dam/ey-sites/ey-com/en_us/topi... for examples. Even if you are not the one doing the front-running, you have to be aware that someone else will be.
Basically, people can front-run your trades, and this is built into the market by design. Also, instead of the winner being the fastest like in tradfi, there is a competitive auction where participants pay for priority. See, e.g., https://archive.ph/W0nvi or pages 7...9 of https://assets.ey.com/content/dam/ey-sites/ey-com/en_us/topi... for examples. Even if you are not the one doing the front-running, you have to be aware that someone else will be.
To make it more exciting there are also implementation bugs: https://archive.ph/9w32t