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- Lido received compensation for its contributions in block 17007842 of the Beacon Chain.
- The payout is very close to Lido’s peak of 691 Ether, recorded on March 20.
A notable reward recently, amounting to 689 Ether valued at $1.28 million, was granted from a single Maximal Extractable Value (MEV)-boost relay block on the Ethereum Beacon Chain. Data obtained from blockchain transactions indicates that Lido was compensated for its contributions in block 17007842 of the Beacon Chain, which was finalized on April 9 and includes 47 transactions.
This payout is nearly at Lido’s all-time high of 691 Ether, achieved on March 20. Martin Köppelmann, co-founder and CEO of the Ethereum-based infrastructure platform Gnosis, expressed surprise at the figure and recommended that Ethereum users utilize a tool like MEV Blocker to protect their transactions.
Maximizing Value Extraction
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In efforts to trade, provide liquidity, and create non-fungible tokens (NFTs) on Ethereum, MEV bots have reportedly appropriated over $1.38 billion. These centralized MEV-boost relays can enhance value extraction by selecting blocks from the builder offering the highest fees from a pool of builders.
The “sandwich” attack is a common MEV exploit where the attacker executes a significant trade on both sides of the victim’s transaction, thus manipulating the price and profiting from the resulting change. Proposer-builder separation, introduced in 2021 by the Ethereum research group Flashbots in anticipation of Ethereum’s transition to proof-of-stake in September 2022, is the foundation of MEV-boost relays.
To foster competition at the consensus level, enhance Ethereum’s decentralization, and strengthen its resistance to censorship, the roles of proposers and block builders have been divided. Although the number of OFAC-compliant blocks has diminished following the Merge, Ethereum has faced several censorship issues related to the organization’s adherence to these regulations.
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