The origins of MEV
Currently, Ethereum is a proof-of-work network with both users and miners. Users pay gas fees so that miners can process their transactions, and miners collect those transactions from the Ethereum “mempool.”
These mining pool operators are significant to pay attention to, because they can determine the unique order of transactions. As a result, these operators can extract maximum value from blocks processed by their pool, thus referencing the term “MEV.”
Ethereum moves to a proof-of-stake system later this year following the Merge, but for now the current ecosystem remains MEV-centralized, given that mining and staking pools integrate with trading firms to boost MEV profits.
MEV’s application to this project
From the origins described above, MEV continues to evolve into areas of arbitrage including more malicious profiting attempts such as “frontrunning.” This is where our token economy comes into play, hoping to put an end to such activities which result in hundreds of millions of dollars lost to these MEV-bot users.
MEV bots are not going anywhere, they continue to trend and amass a huge following. Surely, people can argue that this is simply a new and innovative use-case for technological strategy. However, MEV bots are damaging and almost predatory, constantly hunting etherscan and the mempool in hopes of making profit on the mistakes of others.
MEV Repellent is here to put an end to all of this, all the while spreading awareness of our utility until the entirety of this space truly understands. The more volume that continues to flood into the cryptocurrency market, the more likely these MEV strategies become solidified.
Therefore, it is our duty to rebuke such attacks and offer safety for the average investors of this new, modern, and decentralized age.