In the rapidly changing world of blockchain, beyond the transactions we directly see, there exists a “hidden” force that can generate extra profit for specific participants. This is MEV (Maximal Extra...

<p>In the rapidly changing world of blockchain, beyond the transactions we directly see, there exists a “hidden” force that can generate extra profit for specific participants. This is <strong>MEV (Maximal Extractable Value)</strong>. It’s not a mysterious code, but a possibility arising from the blockchain design itself – profiting by skillfully arranging, inserting, or excluding the order of transactions.</p><p>Initially, on chains relying on miners to bundle transactions (like early Ethereum, Bitcoin), MEV was called “Miner Extractable Value.” However, on Proof-of-Stake (PoS) networks like Solana, the entity controlling transaction bundling is the <strong>validator</strong>. Therefore, more accurately, MEV on Solana is the value captured by validators or “searchers” working with them (bots running complex algorithms). You can think of these searchers and validators as the blockchain world’s “high-frequency traders” or “information advantage holders.”</p><p><strong>Simply put, MEV is the profit generated by observing and manipulating transactions within the transaction pool (Mempool) before a block is finally confirmed.</strong></p><p>Imagine this: You spot a perfect arbitrage opportunity on a decentralized exchange (DEX) and quickly submit a transaction. However, your transaction information is publicly visible. A validator or searcher running an MEV program catches your intent. They can execute a similar transaction <em>before</em> yours is bundled to profit, or even reorder your transaction execution, leading to a worse outcome for you. This is a classic illustration of MEV.</p><h3>Why Does Solana’s Speed Make MEV More Complex and Intense?</h3><p>Solana is renowned for its astonishing performance, boasting extremely high transactions per second (TPS, reaching tens of thousands) and incredibly low block confirmation times (only about 400 milliseconds). This stands in stark contrast to the longer block times of traditional chains like Ethereum (around 12 seconds).</p><p>This speed difference has profoundly impacted the MEV landscape:</p><p>Comparison AspectEthereum MEVSolana MEV<strong>Opportunity Window</strong>Relatively wide (approx. 12 seconds)Extremely brief (only approx. 400 milliseconds)<strong>Competition Intensity</strong>Primarily dominated by large mining pools and professional teamsExtremely high barrier to entry, a fierce battle of algorithm efficiency and infrastructure<strong>Profit Models</strong>Diverse, including cross-chain arbitrage, liquidations, sandwiches, etc.Relies on millisecond-level response speed, focuses on high-frequency on-chain arbitrage<strong>Transaction Visibility</strong>Visible after transactions enter the public mempoolTransactions can be submitted directly to specific validators (via Jito, etc.)</p><p><strong>Key Point:</strong> Solana’s lightning speed means MEV opportunities are fleeting. Only players with the most advanced technology, fastest information pipelines, and most optimized algorithms can effectively capture value in this environment. For regular users, while transaction speed is high, the potential and frequency of being affected by MEV might also increase.</p><h1>Common MEV Strategies on Solana Explained</h1><p>MEV strategies are diverse, but in Solana’s high-speed environment, the following are particularly common:</p><ol><li><div><strong>Frontrunning:</strong></div><ul><li><div><strong>Principle:</strong> Monitor the pending transaction pool, and upon detecting a profitable large transaction (e.g., buying a large amount of a token on a DEX), an MEV bot immediately submits a nearly identical buy order and pays a higher Priority Fee to ensure its transaction is bundled by the validator <em>before</em> the target transaction.</div></li><li><div><strong>Result:</strong> The MEV bot buys first, pushing up the asset price; the user’s original transaction executes afterwards and they have to buy at a higher price, incurring “slippage” loss.</div></li><li><div><strong>Scenario:</strong> A user wants to buy 1 Token for $100. A bot sees this and buys first for $100. When the user’s transaction executes, the price has been pushed up to $102, and the user ultimately spends $102 to buy 1 Token.</div></li></ul></li><li><div><strong>Sandwich Attack:</strong></div><ul><li><div><strong>Principle:</strong> A variation of frontrunning that “sandwiches” the user’s transaction between two bot transactions. The bot first executes a transaction in the same direction as the user (buy), then waits for the user’s transaction to execute and push up the price, and finally executes a transaction in the opposite direction (sell).</div></li><li><div><strong>Result:</strong> The user is “sandwiched” in the middle, the bot profits from buying low and selling high, while the user bears the full loss from price volatility.</div></li><li><div><strong>Scenario:</strong> A user initiates a large buy order. Bot -&gt; Buy; User -&gt; Execute buy order (pushes price up); Bot -&gt; Sell for profit. The user is left having bought at a high price.</div></li></ul></li><li><div><strong>Arbitrage:</strong></div><ul><li><div><strong>Principle:</strong> Exploiting small price differences for the same asset across different DEXs or trading platforms. With lightning-fast execution speed, an MEV bot buys on the platform with the lower price and simultaneously sells on the platform with the higher price, locking in risk-free profit. Solana’s parallel processing capability allows bots to check and execute multiple cross-platform arbitrage trades <em>within the same block</em>.</div></li><li><div><strong>Result:</strong> May exacerbate price volatility in the short term but helps prices across different platforms converge over the long term. This is considered a relatively “beneficial” form of MEV as it improves market efficiency.</div></li></ul></li></ol><h1>What Does MEV Mean for the Average User?</h1><p>MEV is a double-edged sword:</p><p><strong>Negative Impacts:</strong></p><ul><li><div><strong>Implicit increase in transaction costs:</strong> The most direct impact is increased slippage, meaning the user receives fewer assets than expected for their transaction.</div></li><li><div><strong>Transaction execution risk:</strong> Frontrunning and sandwich attacks can cause the user’s transaction to fail due to drastic price changes or insufficient funds, wasting on-chain fees.</div></li><li><div><strong>Erosion of user confidence:</strong> Frequent MEV attacks make users question the fairness of on-chain transactions, reducing their willingness to participate in DeFi.</div></li></ul><p><strong>Potential Benefits (primarily from arbitrage):</strong></p><ul><li><div><strong>Improved Market Efficiency:</strong> Arbitrageurs help prices across different trading pools stay synchronized by quickly eliminating price differences, improving overall market liquidity.</div></li><li><div><strong>Drives Technological Advancement:</strong> To combat malicious MEV, the community and developers are actively exploring and implementing fairer, more private transaction mechanisms.</div></li></ul><h1>How to Protect Yourself from Malicious MEV on Solana?</h1><p>While completely avoiding MEV is difficult, regular users can adopt some strategies to reduce their risk:</p><ol><li><div><strong>Choose Privacy-Enhancing Services:</strong> Use wallets or protocols that offer encryption or obfuscation services before transactions are sent on-chain. For example, some services allow you to submit your transaction to a private relay instead of directly entering the public mempool, reducing the chance of being detected early. Wallets like Phantom may offer such options.</div></li><li><div><strong>Utilize “MEV-Friendly” or “MEV-Resistant” Protocols:</strong> Some projects are designing protocols that reduce MEV opportunities by changing transaction ordering rules (e.g., batching, randomizing order) or pricing mechanisms. For example, some Jito-supported validators use specific middleware to optimize the block building process. Learn about and prioritize using these protocols.</div></li><li><div><strong>Optimize Your Trading Strategy:</strong></div><ul><li><div><strong>Use Limit Orders:</strong> Instead of Market Orders. Limit orders ensure your transaction executes only at or better than your specified price, effectively preventing the high-price execution caused by sandwich attacks.</div></li><li><div><strong>Consider Paying a Higher Priority Fee:</strong> On Solana, paying a higher priority fee can increase the likelihood of your transaction being bundled by the validator sooner, potentially “cutting in line” ahead of lower-priority MEV bots. However, this doesn’t fully guarantee against MEV.</div></li><li><div><strong>Diversify Trades:</strong> Avoid making large, potentially MEV-attracting trades on a single platform.</div></li></ul></li><li><div><strong>Stay Informed:</strong> Follow on-chain MEV monitoring tools and data dashboards (e.g., Solana MEV Board) to understand the current level of MEV activity and choose to transact during lower-risk periods.</div></li></ol><h1>The Future Outlook for Solana MEV</h1><p>MEV is a significant challenge facing current blockchain technology development. It is rooted in transaction transparency and the validator’s (or miner’s) control over block production. While completely eliminating MEV might be very difficult, the community and developers are working to mitigate its negative impacts through technology and governance:</p><ul><li><div><strong>Improved Block Building Mechanisms:</strong> For example, solutions like those offered by Jito Labs allow searchers and validators to collaborate in a fairer way or introduce more complex transaction ordering auction mechanisms.</div></li><li><div><strong>Zero-Knowledge Proofs (ZKP) and Privacy Technologies:</strong> Make transaction content private before going on-chain, reducing the opportunity for MEV bots to discover them at the source.</div></li><li><div><strong>Community Governance and Reputation Systems:</strong> Encourage validators to adopt “fair” block-building practices and potentially penalize malicious MEV behavior.</div></li><li><div><strong>Potential Regulatory Intervention:</strong> If certain MEV activities are deemed market manipulation, they may face future legal and regulatory challenges.</div></li></ul><p><strong>As a regular user,</strong> it’s important to understand MEV and view it as a “friction cost” that is part of on-chain transactions. Actively using available protective tools, choosing protocols that are prepared for MEV, and staying informed about new technologies are effective ways to navigate this challenge.</p><h1>Conclusion</h1><p>Solana’s high-speed characteristic amplifies the potential impact of MEV, making it a more challenging and technical domain. It is both a catalyst for improved market efficiency (through arbitrage) and a source of hidden costs and risks for regular users. Future development will lie in finding a better balance between efficiency, decentralization, and fairness. Through technological innovation, community collaboration, and increased user awareness, we can collectively build a healthier, more transparent on-chain trading environment.</p><p><u><em>© Original content by </em></u><a href="https://academy.pandatool.org/en_US/" rel="nofollow"><u><em>PandaAcademy</em></u></a><u><em>Unauthorized reproduction prohibited. Credit required when sharing.PandaAcademy, a Web3 educational brand by PandaTool, positions as an open skills academy for the Web3 era.</em></u></p>

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Solana MEV Robot: How Validators Harvest On-Chain Transactions

Trong thế giới blockchain đang thay đổi nhanh chóng, ngoài các giao dịch mà chúng ta trực tiếp nhìn thấy, còn tồn tại một lực lượng "ẩn" có thể tạo ra lợi nhuận bổ sung cho các thành viên cụ thể. Đây là MEV (Maximal Extra...

<p>Trong thế giới blockchain đang thay đổi nhanh chóng, ngoài các giao dịch mà chúng ta trực tiếp nhìn thấy, còn tồn tại một lực lượng "ẩn" có thể tạo ra lợi nhuận bổ sung cho các bên tham gia cụ thể. Đây là <strong>MEV (Giá trị có thể trích xuất tối đa)</strong>. Đó không phải là một mã bí ẩn, mà là một khả năng phát sinh từ chính thiết kế blockchain - kiếm lời bằng cách khéo léo sắp xếp, chèn hoặc loại bỏ thứ tự các giao dịch.</p>

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Solana MEV Robot: Cách thức các trình xác thực thu thập các giao dịch on-chain

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Ban đầu, người ta sử dụng các điều kiện mua quá mức và bán quá mức để hiểu điều này, nhưng trong những năm gần đây, họ đã bắt đầu sử dụng sự phân kỳ RSI để phân tích thị trường.
Tuy nhiên, giá trị lớn nhất của RSI nằm ở khả năng xác định sự phân kỳ và điều chỉnh giảm trong giao dịch theo xu hướng, đây là chìa khóa để tham gia vào các xu hướng lớn.
Thực tế, có hai chiến lược chính để đối phó với RSI:
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