/biz/ - Business & Finance

>>54760340
Just imagine how much profits are MEV bots leeching off from majority of market participants

>>54760340
Explain this in a way that someone who isn't a total autistic online faggot might understand.

>>54760394
And companies like CipherTrace are watching and anticipating these bastards fucking up their OPsec so they can "liberate" those funds. Even crypto exchanges will jump on the opportunity if given, and that's why the owner of the address can't really do much with it besides stack it up.

>>54760404
self destruct = deleting a contract
reinitialized with new byte code = deploying a new contract

>>54760404
this bot makes 30 eth every few hours from casino degenerates who swap their shitcoins on a billion dexes. this bot basically just frontruns their transactions by buying right before their block goes through and immediately selling right after those retards bought. this is the most successful bot on ethereum and its upgrading itself so the owner basically just improved its algos

>>54760445
I'd figure the most profitable MEV's are insiders' tools. Their extraordinary performance seems like a direct reflection of how much profit is there to reap from cc markets.

>>54760530
Conceptually i think i understand what jared is doing, but what does the contract do? I thought its literally a bot watching the mempool and doing transactions, but how does a eth contract come into play

>>54760445
Mev isn't illegal retard its just how efirium spaghetti code works

>>54760493
That was the understandable part.
>>54760530
This is what I needed.

>>54760603
you need a script and a smart contract to execute the code.

>>54760826
pic related for the amount of money this chad is making

>>54760340
>Jaredfromsubway.eth
>MEV sandwich attacks
>but also loves v& content
what did he mean by this

>>54760890
future of finance everyone

>>54760890
wtf, how do i put my hands on one of those?

METH NIGGERS ON SUICIDE WATCH HAHAHAHAHAHAHAHAHAHA

>>54760530
>frontruns
Rose solves this problem. Every dapp will use rose's OPL to prevent frontrunning when it's out. Screencap this.

I sure hope your devs left wallet blacklisting turned on

>>54761423
>>54761528
kek
>>54761457
build your own bot and try to compete with thousands of others
>>54761547
1inch already protects you from MEV's doesn't mean people use it. the avg degen is a retard so they'll keep using shit like uniswap with high slippage and get fucked by jared
>>54761548
they won't. jared brings in all the volume. look at him going.

https://etherscan.io/address/0x6b75d8af000000e20b7a7ddf000ba900b4009a80#tokentxns

>>54761688
The nice thing about OPL is that any dapp can implement it into their smart contract. Very similar to how every dapp uses chainlink's oracles now. People will be using rose without actually knowing their using it.

This is why eth long term will fail
Consensus owns ethereum
PoS made it centralised
2.0 did nothing about scaling and after staking had to give concessions to let these guys keep running their bots

If you support eth you support glowies

>>54761723
>their
Ok pajeet

How does this shit work? I kinda understand some of it from what >>54760603 and >>54760530 were saying but can someone explain how something like this is even made?

>>54761779
there*

>>54761802
ethereum doesn't order its transactions in a block. it just picks the one it wants and the one paying the most so this gives the opportunity for mev bots to basically pay higher gas fees to front run someone's transaction. an eli5 would be like this:

>Bob buys token X for 80 eth
>tx gets added to the mempool
>mev bot sees the tx of Bob for 80 eth
>mev bot instantly buys token X and uses higher gas fee + probably is a validator so gets the tx confirmed before Bob does
>Bob's tx finally gets confirmed
>mev bot instantly sells token X with profit from Bob's 80 eth purchase

now multiple this with a million transactions per day on a million shitcoins carefully filtered not to buy into honeypots

>>54760394
don't need to imagine, there's dune boards for it. it's a few billions per year

>>54762033
Where does men bot buy the token for less than 80 eth?

>>54762249
from the liquidity pool

>>54762249
it doesn't matter how much the mev bot buys. it can buy for 1 eth worth. all that matters is that Bob bought shitcoin X for 80 eth worth right after mev bot bought. so that means Bob actually pumped the price up of that shitcoin by a scale of 80 eth. so the mev can profit by selling its shitcoin. i just used 80 eth as an example since the mev bot profits the most by larger buys but it can also profit with 5 eth buys or whatever number you can imagine

>>54760603
bots like you're thinking of were the naive way of doing things in early blockchain days
nowadays what you do is custom contracts that only execute if all the logic goes through successfully (i.e. if the sandwich opportunity goes away, it simply reverts quietly)
so you either get a win or lose nothing at all

>>54762033
you're also thinking of older patterns
mev bots bypass the gas auctions
they submit transaction data directly to validators, with a bribe out of the profit from their sandwich
it's basically failproof

>>54760530
This is why I don't bother with defi shit
Fuck defi
Totally so much better than the Jews frontrunning the stock market right

>>54762293
nice enlightening. didn't actually know about the bribening. explains the success rate of these bots.

>>54762284
Still don't understand

>>54761688
People should use fusion for sure more, but in the end mev bots are making the transaction so they profit anyway

>>54762456
they are part of the game. Simply don't manually scalp onchain like a pajeet and trade longer movements, or just go to biance and use leverage like most degens and dont feed the bots

>>54762033
that's how old way of transaction ordering used in plain Geth-nodes. now that 88% of validators use MEV-boost what happens is that multiple block builders configure transactions in a way that leeches the maximum amount of value from the ecosystem to the validator.
Block builders do this mostly by "selling blockspace" on the open market, which is just another way of saying they auction off priority transaction spots for front-running, sandwiching, back-running, etc. this is far more efficient than the old blind-auction based system of gas wars, so technically it's an improvement, but it's still a drain on the ecosystem and source of market inefficiency.
A number of chains/methods avoid MEV entirely, some were already mentioned in this thread. ETH people don't talk about MEV for obvious reasons. Some even protect it, constantly rewording and changing MEV terms to further obfuscate what most laymen would intuitively recognize as an organized system of mass theft.

>>54762314
there are plenty of ways to avoid MEV. the market is unaware of this, arguably on purpose, because MEV is a money printer and like most money printers shutting it down will piss off a lot of influential and important people.

>>54762538
Yeah? Like what? Why do we even need to do something extra to not get front run? That's fucking stupid.

>>54760340
why don't people just use cowswap?

>>54762412
kek. if you swap 500 eth for shiba inu on Uniswap right now. you will have a gorillian shiba inu tokens right? well right after you clicked on swap and approved the transaction in your metamask wallet, your transactions gets send to the mempool to then get added in a block for confirmation which usually takes about 20 seconds. well in between those 20 seconds you're waiting, a mev bot picked up your transaction and quickly buys shiba inu as well. however his transaction gets confirmed before your transaction does. so he now has a few shiba inu tokens and after your transaction is confirmed he has the same shiba inu tokens but they're worth more because you bought 500 eth worth of shiba inu which made the price of shiba inu rise. so now the bot sells his shiba inu tokens thanks to you for making the price go up. if you still don't get it just search it up

>>54762314
It can't happen to you unless you disable slippage limits. Like you have to go in the UI on most dexes, enable advantage, ignore a big red warning, disable slippage, ignore another big red warning, etc. Its retarded how people do this, I think they have fomo and just want to buy some shitcoin and just try to flip a bunch of settings that they have no clue what they do.

If you don't do this and use the default settings then the MEV bot can't get you, or if they do its legit arbitrage by balancing liquidity so half the time they might help you get a better price if you're using a bad pool.

>>54762284
the shitcoin price changes between the bot buying it and bobs TX going through?

>>54760493
>>54760530
Explain it in a way that a 75yo Chinese rice farmer peasant from the XV century would understand

>>54761547
lol no it doesn't, it will just hide sofisticated actors, so MEV extraction will be someone obfuscated to the masses (still visible by several entities)
Daily reminder that relying on Intel SGX or TrustZone is retarded

>>54762568
Its arbitrage. If you go on on a bad pool and buy at a bad price, the bot could go to a better pool, buy the token for you and sell it to you. So you actually pay a better price in that way. Buy you can set your slippage tolerance to prevent it too. Like you can say I only want a 0.03% price difference than what I see. And you will never pay more than that.

>>54762568
also its not "extra," by default you can't get front run.

its just that low liquidity, ultra shitcoins often have high slippage so the tx fails unless you increase the slippage allowance, and dumb fucks just get rid of it completely.

>>54762503
thanks for highlighting this. ethereum is literally a mob chain lol. there's so much shady money its practically funny.
>>54762578
>>54762590
prices changed because Bob bought a shitload of shitcoin X. see>>54762574

also based chinese rice farmer peasant from XV century

>>54760530
>what is slippage 0.01%

>>54762574
>>54762682
Thanks, I get it now.

>>54762704
>set sippage to 0.01%
>tx failed
>paid $40 gas fees
>you have to set your slippage higher
>set slippage to 0.05%
>tx failed
>lost another $38 in gas fees

>>54762682
So it only goes for transactions with high slippage that makes the gas fees worth it?

>>54762682
Ah I didn't see this post when I made mine >>54762574

So they bot is looking for orders that will have a price impact, and jumping in front before the order is filled. How does the bot know how much capital to throw around each time? Is that just one of the intricacies, finding that balance based on dozens of factors?

>>54762682
Its not really. Crypto gives you absolute power. So if you want to submit a trade that says "I will pay X for literally 0 in return" then that is what happens. The UIs are set up to prevent this. You have to manually set it up to allow it.

>>54762738
For non-shitcoins, default slippage works. Its only a problem for absolute shitcoins with no liquidity.

>>54762738
>tx failed
>paid $40 gas fees
>you have to set your slippage higher
>set slippage to 0.05%
>tx failed
>lost another $38 in gas fees
Yea that would be why I use BSC. I dont think I even lose the like 50 cents when this happens.

It's funny that people think MEV is somehow unfair. It's just an auction for transaction order priority, which is unavoidably a scarce resource in blockchain systems. Any validator can participate. It's the same retardation that leads people to think that high gas fees are somehow vitalik just wanting to be a dick to poorfags. Educate yourselves you brown motherfuckers.

>>54762503
no no anon it's a cyberpunk dance! it's grassroots!! lmao I don't even like LINK but I hope they shit on these guys

>>54762741
these bots use validators to front run their transactions so mostly it is shitcoins with high slippage yes.
>>54762757
that's the script which is a blackhole for most of us. it filters out a lot of things and a lot of variables taking into account to craft the perfect money making machine.
>>54762800
thats the thing. jared only targets the shitcoins. go take a look at his transactions. i think he made like $9M on $PEPE alone.

>>54762888
Its obviously a scam where you make money without working or earning it, you provide nothing and only take. That makes you a parasite, and yea typically when people get their hands on the parasite they stomp their face in with rage. Just facts. Its like if a sniper killed 8 of your buddies in war, and then you catch the sniper. He doesnt do so well.

>>54762896
very interesting, thanks for the info

>>54762913
So everyone who buys any crypto and watches it go up is a scammer because they did nothing to earn it. You might be on the wrong board.

>>54762913
he has the tech and capital to run that show, midwit take

>>54762590
>Greetings, honored rice farmer. I am Confucius, a knowledgeable entity from a distant time and place. Allow me to explain a concept to you in terms that you can understand.

>In this current time, people exchange digital currencies called "crypto" on a decentralized network called "Ethereum". Some of these people are fond of gambling, and they often visit places called "casinos" to trade their crypto for other types of crypto, which they call "shitcoins". They do this on many different "dexes" which are like marketplaces where they can buy and sell these "shitcoins".

>Now, there is a tool called a "bot" which is a type of machine that can automatically perform certain tasks on the Ethereum network. The owner of this particular bot has programmed it to observe the transactions happening on these dexes, and to quickly buy and sell certain types of crypto based on what the gamblers are doing.

>The bot is very clever, and it can predict what the gamblers will do before they even do it, allowing it to buy and sell at the perfect moment. As a result, it can make a lot of money very quickly, about 30 units of a digital currency called "ethereum" every few hours.

>The bot's owner is very pleased with its performance, and is constantly working to improve its algorithms so that it can continue to make even more money in the future.

>I hope that this explanation has been helpful to you, honored farmer. If you have any further questions, please do not hesitate to ask.

>>54763270
shiiet wrong language
>您好,尊敬的稻农。我是孔子,一个来自遥远时空的知识分子。请允许我用您能理解的术语向您解释一个概念。

>当前,人们在称为“以太坊”的去中心化网络上交换称为“加密货币”的数字货币。其中一些人喜欢赌博,他们经常去被称为“赌场”的地方用他们的加密货币换取其他类型的加密货币,他们称之为“shitcoins”。他们在许多不同的“dexes”上这样做,就像他们可以买卖这些“shitcoins”的市场一样。

>现在,有一种叫做“bot”的工具,它是一种可以在以太坊网络上自动执行某些任务的机器。这个特定机器人的所有者对其进行了编程,以观察这些 dexes 上发生的交易,并根据赌徒的行为快速买卖某些类型的加密货币。

>这个机器人非常聪明,它甚至可以在赌徒行动之前就预测到他们会做什么,让它在最佳时机进行买卖。因此,它可以很快赚到很多钱,大约每隔几个小时就能赚到大约 30 个单位的一种数字货币,叫做“以太坊”。

>机器人的主人对它的表现非常满意,并不断努力改进它的算法,以便它能在未来继续赚更多的钱。

>希望我的解释对您有帮助,尊敬的农民。如果您有任何其他问题,请随时提出。

>>54762913
Arbitrage provides better prices and improved liquidity. They do earn it because they write the software and identify the areas where there are imbalanced prices. So if you buy from a pool with lower price you can have your priced improved by arbitrage. You also pay less gas fees than you would without MEV.

The only thing that needs to be changed imo is the bluechip DEXs need to now allow you to disable slippage. Big red warnings aren't enough for retards. They should make you manually call the contract method.

>>54763270
>mfw some random hikkimori autismo codenigger makes usd$57k of passive income in a couple of hours every moment of his life

>>54763285
Front running is not arbitrage, backrunning is not arb, sandwiching is not arb you dirty lying kike. the MEV kikes that continue to perpetuate these lie need to be gassed.

every single MEV faggot that pretends that MEV is "just arbitrage" is lying through their fucking teeth.

>>54760340

>He's still not endorsing 0X0
honestly why are we still bringing attention to anything he says? How are we supposed to trust him if he's still not talking about farming ETH on DEXes?

>>54762888
>validators front-running users is "fair" because every validator can participate (which they do because it's free money)
the absolute state of MEV cucks

>transaction order priority is a scarce resource just like blockchain space
it isn't if you remove priority from the equation. this can already be done with LINK's layer 2 FSS, ROSE's OPL, AVAX's consensus, etc, etc I'm sure there's tons more solutions but you won't hear about them because greedy MEV kikes are constantly gaslighting their own user base into accepting MEV as natural and unavoidable.

>>54760530
Ahh, the beautiful dance?

>>54763621
its beautiful isn't it?