libMEV - MEV Explorer

Gm. We would like to announce the public beta launch of libMEV, a public resource by Cryptic Woods for exploring and analyzing MEV (Maximum Extractable Value) on Ethereum.

Prelude

First, a little background on myself, I am Libevm, an ex-searcher of value, with one of the most forked repos for MEV. As an early participant, I have witnessed first hand the rapid change of the landscape, from when MEV was simply spamming the mempool, to the days of the PGA wars, to the era of flashbots, and now, the decentralization of the builder market.

Our goal with libMEV was to build a comprehensive dashboard, that can share insights into the dark forest, as well as spectate and appreciate the ever increasing competition of battles fought in this arena.

Change Is the Only Constant

With the rapid innovation on Ethereum, comes a new frontier of possibilities. We are only starting to understand its capabilities, as the crypto community seeks to revamp the financial system into a permissionless open system. One new realm of discovery that is still widely misunderstood is MEV.

It is human nature to fear the unknown, and this has clearly been demonstrated by the stigma given to this space. That is where libMEV comes in. By shining a light into the dark forest, we hope to allow users to better understand how it works, and help them navigate their way through this forest.

MEV Alignment

With knowledge, comes power. I believe that all crypto participants will be able to reap benefits - MEV exists because of inefficiencies, whether it be from inefficient routing of trades, or setting unnecessarily high slippage tolerances. By educating yourself and using better tools, you can both better protect yourself by minimizing the value you leave on the table, and even spot and take advantage of inefficiencies yourself.

We believe MEV is well aligned with Ethereum, and a fundamental building block to the new world financial system. With a POS system, we need sustainable and well-thought incentives for people to secure the blockchain. MEV contributes to this security budget, and helps maintain the systems needed for functional decentralized markets -- to date it has generated over 130,000 ETH in additional revenue for validators, making ETH a more secure and sound form of money for everyone.

Celebrating the Minds Behind Victory

“All the study and preparation in the world can’t show you what it’s really going to be like in the wild.” - Gary Kasparov

Success of winners has always been a great source of inspiration for others. As an ex-searcher, I have a very deep appreciation of the competition in this space and see it as no different to more popular games such as chess or poker. One of the beauties of crypto is its permissionless nature, where unlike the walled gardens of traditional finance, anyone can enter the arena and challenge the top players.

However, due to a lack of domain expertise, the competition here has been mostly undocumented, with inaccurate or outright false statistics. As such, our hope is that libMEV can better document and celebrate the winners. We hope this will allow the community to better appreciate the art of value searching, as well as witness the endless innovation that this competition has created.

Fin...?

With this, I hope you enjoy what libMEV will have to offer, and follow us along our journey of shining a torch into the dark forest.

If you have any questions or concerns, please direct them to the telegram group.