Today 95% of blocks on Ethereum are built by just two parties. This centralization threatens Ethereum's neutrality and resilience.
BuilderNet provides a decentralized, neutral, and open alternative, and the first release is live today.
The first release is a big step towards decentralized building by introducing "multioperator" building - where many parties can operate the same builder in a TEE, which users can verify. The initial operators are the Beaverbuild, Flashbots, and Nethermind teams.
The most vain searcher on-chain and all the ways they flex π§΅
We're looking at 'bigbrainchad.eth' from the dark forest; a bot that exploits contracts the block after they become vulnerable
Beyond the name and the MEV extraction, they flex on chain in a few ways that you might not have ever seen before
To start, all their transaction hashes start with 0xbeef - a flex I've seen any of the other mempool monsters do where they proof-of-work style mine a transaction hash prefix!
So not only do they extract MEV, they also take the time to mine a vanity hash
A brief thread on a novel MEV searching strategy, where we chase the trail of a mysterious bot backrunning private flow and reveal how they do it.
@blairmarshall pointed out a bot that appears to have private access to user orderflow that was landing bottom-of-the-block blocks on the Flashbots builder. That didn't make sense to me. We don't run backrunning bots! So we investigated.
MEV-Boost payments were at an alltime high yesterday, totaling 7691 ETH (!) which is nearly double the previous ATH of 3928 ETH during the FTX fiasco this fall.
A few statistics on MEV on Ethereum yesterday in this thread
You can't compare stats these 1:1, but the ATH for daily miner profit from mev-geth was 6397 ETH in June 2021. That's the *profit* of running mev-geth vs a vanilla mempool mining client.
A similar metric here would be the difference in payment for validators from running mev-boost or not. There's not a great up to date estimate of this out there I think
You could derive it by looking at the value of the mempool builder we submit (0xa1defa) and the winning block