This is a public resource for learning about Miner Extractable Value.
We cover a range of topics including the key concepts, research on this the topic, different approaches to tackling this issue and also Automata Network's approach.
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What is Miner Extractable Value?¶
Miner Extractable Value refers to the amount of profit that miners can extract from reordering and censoring transactions on the blockchain.
MEV can harm users¶
MEV is an invisible tax that miners are collecting from users.
MEV can destabilize Ethereum¶
If block rewards are small enough compared to MEV, it can be rational for miners to destabilize consensus.
Just how bad is the problem?¶
The Flashbots Dashboard tracks Extracted MEV over time.
It is estimated that >$350M has been extracted since 1st January 2020.
Dune Analytics tracks Gas consumption by back-running bots.