MEV Space #2: Offer Builders Can't Refuse:The Searcher Integration Saga

In the first 11 months of 2024, three powerhouse searcher-builders—MEV Frontrunner Yoink, C0ffeebabe.eth, and Turbobuilder—pulled in a staggering 9K ETH tips from just 13K transactions, including hacks, arbitrages, and liquidations. Searcher-builder integration has become a phenomenon the Ethereum ecosystem can’t afford to ignore.

The growing prevalence of searcher-builder integration has emerged as a key factor in how MEV is extracted and distributed in the Ethereum ecosystem. What started as a natural evolution in the PBS ecosystem has become dominant, raising important questions about market dynamics, privacy considerations, and ecosystem health. From Shutter Network's work on privacy-preserving solutions to Sorella's research on MEV capture and the deep insights into order flow dynamics, our speakers today represent different angles of this complex puzzle.

Co-host: Blair Marshall, MEV Solution Architect of Fastlane.

Speakers:

• Luis Bezzenberger, founder of Shutter Network.

• David Phillips, Order Flow expert.

• Yuki Yuminaga, Founding Research and Growth of Sorella Labs, Research Partner of Fenbushi Capital.

We discussed:

• How do you calculate the actual net income of a builder?

• The impact of searcher-builder integration on the health of Ethereum.

• How would you evaluate the effect of Inclusion Lists solutions on searcher-builder integration? I.E., FOCIL or MCP.

• Are TEE and BuilderNet helpful in relieving damages?

• If the only way to survive as a small builder is to become a searcher-builder, what changes must happen to stop this trend?

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