Thread by @andrewmoh

The average MEV bot makes $300k - $1m per month.

Leveraging ChatGPT will save you 1000 hours setting up it.

And guess what? It is completely FREE.

Detailed instructions on how to create your own MEV 🧵⬇️

▸ What are MEV bots?

MEV: Miner Extractable Value

MEV bots are automated programs that exploit arbitrage opportunities, front-running, and order strategies to extract the most value from DeFi.

▸ How many kinds of MEV bots?

MEV bots can be divided into some categories based on their purposes, such as:

• Arbitrage
• Front-Running
• Back-Running
• Sandwich attacks
• On-chain sniping
• Flash loans
• Liquidation

How do they work?

MEV bots scan pending blockchain transactions to identify profit opportunities and place trades to capitalize on them.

These bots execute trades faster than others by using strategies like front-running or back-running.

Here's a simplified breakdown: ⬇️

▸ Current stats

Take Moonshot as an example.

According to data from Dune, the ratio of finalized tokens on Moonshot is just 0.29%, even lower than the successful launch ratio on (1.41%).

The point is: Finding 100x gems is tough without the right tools.Pump.fun

▸ Solutions

Given the vast number of tokens on Moonshot and the fact that our brains are better suited for single-tasking, MEV bots can be incredibly helpful.

What to expect from a bot:

✜ Easy to build and operate
✜ Fast and accurate
✜ Easy to integrate with Moonshot

Please note that: This guide isn't as simple as it seems.

If you're not from an IT background, be prepared to spend hours mastering each step.

Please read the guide carefully, prepare yourself a pure soul and let's go.

◈ Step 1: Building the bot

I'm using ChatGPT to guide me from zero.

Start the prompt with:

'Create a trading bot to snipe the token from a provided source.'

ChatGPT even suggested additional features that the bot should have.

◈ Step 2: Set Up a Development Environment

+ Programming Language: Rust or Python

Python with is popular for Ethereum

+ Node Access: Access to an Ethereum/Solana node.

You can use Infura/Alchemy, or run your own node. Web3.py

In case you don't have any coding fundamentals, here is some useful knowledge:

+ Python basic:
+ Setting up an environment using Anaconda:

Anaconda supports you from the test environment and mainnet integration.python.org/about/gettings…
anaconda.com

◈ Step 3: Strategy Development

Decide whether you want to focus on arbitrage, liquidation, sandwich attacks, front-running, or another MEV opportunity.

Each needs different approaches and tweaks.

Use historical blockchain data to assess past performance and risks.

◈ Step 4: Simulate Your MEV Bot

+ Fork mainnet with

Hardhat:
or Ganache:

+ Run simulations to check profitability, gas usage, and transaction success.

+ Optimize code for gas, logic, and strategy.hardhat.org
archive.trufflesuite.com/ganache/

Solana development is a bit different from other blockchains because of its highly composable onchain programs.

This means you can build on top of any program already deployed, and often you can do so without needing to do any custom on-chain program development.

◈ Step 5: Deploy to Mainnet

+ Final tests: Run tests in a testnet or forked mainnet to ensure everything works.

+ Deploy: Launch your MEV bot.

+ Monitor: Watch bot performance for issues like failed transactions, gas usage, or profitability changes.

In case you build a MEV bot on Solana, below are additional steps:

◈ Step 6: Integrate the bot into Moonshot

Next, I want the bot to work on Moonshot data.

Back to ChatGPT, here's the prompt suggested:

'Integrate this into Moonshot, website: ' dexscreener.com/moonshot

+ For further API details from DEX Screener, visit:

Note that to get the precise token data, you have to direct the correct API of Moonshot.

+ Integration sheet: docs.dexscreener.com/api/reference
docs.google.com/spreadsheets/d…

◈ Step 7: Set conditions

Once we've integrated it into Moonshot, the next step is setting up sniping conditions.

At this stage, it's crucial to know what you're aiming for.

Setting up a condition matrix:

+ Token age
+ Initial liquidity
+ Volume
+ Average volume per txn

◈ Step 8: Check the root by Solscan

When the token list is out, now I'm adding the function of checking the token holders using Solscan.

Things to cover:

+ Top holder address
+ Amount
+ Portfolio

◈ Step 9: Check the X account by @getmoni_io

Then I want to check the social accounts of the deployers.

I'm using Moni's score to rank the X account.

◈ Step 10: Add the buy and sell function

This is a vital function that affects my investment.

I need the bot to:

+ Buy/sell with a specific amount
+ Precise price
+ Let users input criteria to trigger the events.

And that's on how to create a sniping bot that works on Moonshot.

ChatGPT is a powerful tool which can help to build from zero.

If you need any further instruction, ask the GPT to explain more specifically.

I hope you enjoy my thread on how to set up your own MEV bot.

Be sure DYOR. Remember, this thread is just for reference only.

For more insights and valuable threads, join my Telegram channel: t.me/AM_insights

Special mention to some Big Brainors:

❯ @the_smart_ape
❯ @Hercules_Defi
❯ @Haylesdefi
❯ @0xTindorr
❯ @KingWilliamDefi

❯ @belizardd
❯ @splinter0n
❯ @DeRonin_
❯ @0x99Gohan
❯ @alphabatcher

More Big Brain:

❯ @cyrilXBT
❯ @eli5_defi
❯ @CryptMoose_
❯ @Beacon_Early
❯ @izu_crypt

❯ @TheDeFiPlug
❯ @CryptoGideon_
❯ @arndxt_xo
❯ @zeuuss_01
❯ @cryppinfluence

I put lots of effort into making this thread. If you find it useful, consider:

❯ Follow me @0xAndrewmoh for more valuable content

❯ Like and comment with your thoughts on it.

❯ Repost then others could benefit from it too

https://twitter.com/0xAndrewMoh/status/1823325621944303846