Yesterday, MEV Blocker protected ~5% of all transactions on Ethereum. This is *without* any major wallet integrations. š
dune.com/beetle/mev-blocker-stats
Such incredible user demand is rightly shining a light on the project ...
For example, this "spicy" take from @0x94305. š¶ļø
(Note that most of these answers have been in the MEV Blocker FAQ for some time, but to address a few points directly ... )
twitter.com/0x94305/status/1655698793097232384
MEV Blocker currently submits to 10 reputable block builders, all of which are listed in the FAQ (mevblocker.io/#faq).
We're happy to work with even more :-) our DMs are open. š©
The criteria for block builders is rather simple at the moment:
- No frontrunning or transaction sharing in any form
- No internal backrunning
- Must build at least 1% of the blocks (note that some non-censoring builders below this threshold were added early on)
No searchers get preferential treatment from MEV Blocker.
While we don't want searchers to have preferential relationships with builders, it's currently impossible to enforce systematically. In the future, we'll address this topic analytically rather than relying on commitments.
Specifically, MEV Blocker will monitor slippage loss for all transactions (against top of block execution) via an API to ensure slippage loss is as close to 0 as possible.
If sending transactions to any particular builder increases average slippage loss, they will be removed.
[Reminder: MEV Blocker's /norefunds endpoint exists for sophisticated users that want their transaction data to be completely private ā i.e. not shared over WS ā and don't care about rebates. This endpoint incorporates the same block builders as the others.]
As we have said from the beginning, MEV Blocker shares 90% of the winning searcher's bid with users directly (not 90% of the backrun).
Of course, a $100 tx is less attractive for a searcher to bid on than a $1M tx, so not all transactions have equal coverage.
As more searchers enter the competition, more users will receive a higher % of their backruns as rebates.
In fact, while some early adopters managed to win some atomic backruns for 50% of the opportunity, the last few days have seen more competitive bids in the 99%+ range.
Remember it is better to avoid backrunning in the first place than to receive a rebate from a searcher backrunning your tx. That's why we still highly recommend that MEV Blocker users trade with @CoWSwap for better order-routing and lower price impact on their swaps.
And while MEV Blocker has sent backrunning rebates to only a handful of transactions, it has protected 100% of transactions from frontrunning and sandwich attacks.
Hence the name MEV Blocker, not MEV Rebater. š
The original goal of launching MEV Blocker was to give Ethereum users a simple, fast, and practical way to protect themselves from all kinds of harmful MEV. ā±ļø
Given its runaway success so far, we will continue to support the project going forward ā in public.
Instructions on how to install MEV Blocker can be found at mevblocker.io.
And if you're a wallet that's interested in integrating MEV Blocker, please reach out to us directly! š
CoW DAO
@CoWSwap
User-protective products for DeFi: š® CoW Swap š® CoW Protocol š® CoW AMM ā±ļø MEV Blocker Don't get milked ā¢ļø š CoW.fi