The Unseen Bidding War: The Latest Tactic Shifts of Titan and Beaverbuild
How Titan and Beaverbuild Adapt in the Ruthless Competition.
The The Unseen Bidding War Series:
War, war never changes.
So is the bidding war. Today, we have the newest data to remove the fog of war.
Today, Chris Hager of flashbots announces that everyone can check out the MEV-Boost Bids Archive!
It provides data from 2024.6.3 to 2024.6.18 now, containing fields:
We downloaded and analyzed the bids of 2024.6.18, which we can see:
There are 12,416,649 bids submitted.
These bids were submitted by 64 builders, among which:
27 builders have identifiable labels,
one label is “default key,” meaning the pubkeys behind this label are either default keys in mev-boost or are being used by many builders or imposters,
36 builders were labeled as “BIDDING_BUILDER_” and the first 8 hex digits of their pubkeys.
Here is the chart showing the bid value from all builders.
The key findings are:
Concentration of Bids Around Block Creation Time (T): The highest density of bids is centered around the block creation time (T), with a noticeable peak between T-3 and T+3 seconds.
Bid Value Distribution: Most bids fall within the 0-2 ETH range, with a significant number of bids around 1 ETH.
Higher Value Bids: There are noticeable instances of higher value bids, ranging from 3 to 6 ETH, particularly concentrated around the critical time interval (T-3 to T+3).
Temporal Spread of Bids: Bids are spread across the entire time interval, but their frequency decreases significantly as we move away from T. Few bids are placed before T-6 and after T+6 seconds.
Let's split the data by builders.
The labels are:
We highlight the top 3 builders: @BeaverBuilder, @titanbuilderxyz, and @rsyncbuilder. Here are their bid value distribution charts.
We can summarize these charts in the table below.
However, it’s obvious that both Titan and BeaverBuild have changed a lot in terms of bidding tactics.
For BeaverBuild:
The most meaningful difference is about the bid timing.
Before, the bid value started to increase around T-1.5s. Now, most bids come around T-2s.
Before, BeaverBuild gradually stopped submitting bids starting from T+3s. Now, it just stops all the bids starting from T+1.5s.
For Titan:
Titan’s bid submission used to start from T-3s, but now, it starts its engine before T-5.
Titan used to slowly reduce its bids from T+3s, and the current tactic is more clear-cut: huge reduction at T+2s, then all stops at T+3s.
To find out more about Titan’s old strategy, visit
The BeaverBuild’s old ways of bidding can be read here:
Interested in their old ways of gas_used in their biddings?
Visit DeFi Strategies Case Studies by EigenPhi or bit.ly/head-first-defi to learn more trading tactic analyses.
Follow us via these to dig more hidden wisdom of DeFi:
EigenTx | Website | Discord | Twitter | YouTube | Substack | Medium | Telegram