> be Garrett Bullish > try to trade 50m aUSDT for USDT on aave frontend > Aave frontend takes a fee > Aave send your trade to cowswap for routing > Cowsap takes a fee > none of the Cowswap solvers realize you can simply swap aUSDT back to USDT so they give a VERY bad price > Cowswap solver who wins takes cut > Cowswap sends the trade to blink > Blink sends tx to internal backrun auction > Blink takes a fee > Blink sends tx and backruns to top builders > Titan takes a fee, keeps $30M > Bids the block on Ultrasound relay > Ultrasound relay takes a fee > Ultrasound relay sends the block to the validator > Validator makes the other 10m. Ladies and gentlemen the MEV supply chain on Ethereum.