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Shea Ketsdever Profile
Shea Ketsdever

@SheaKetsdever

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⚡️🤖 @ flashbots

suave
Joined December 2020
Don't wanna be here? Send us removal request.
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@SheaKetsdever
Shea Ketsdever
4 days
Excited for this episode to be out! Had a great time talking with @TrustlessState about MEV auctions and TEEs
@BanklessHQ
Bankless
4 days
LIVE NOW -- The MEV Trilemma 🔼 w/ @SheaKetsdever from Flashbots Shea helps us understand the MEV trilemma, the solutions we have for it, & how new tech called a Trusted Execution Environment could change the future of MEV as we know it...
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@SheaKetsdever
Shea Ketsdever
2 months
Introducing rbuilder – an Ethereum block builder written in Rust with a focus on performance, modularity, and contributor friendliness. We've been running rbuilder in production at Flashbots for 3 months and are excited to open source it.
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@SheaKetsdever
Shea Ketsdever
1 year
Flashbots has open sourced the Flashbots MEV-Share Node
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@SheaKetsdever
Shea Ketsdever
1 year
MEV-Share is a new paradigm for searchers. It unlocks new orderflow, features, and searching strategies — all while keeping transaction data private. But what does it mean to search on private orderflow? We put together a short guide
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@SheaKetsdever
Shea Ketsdever
1 year
Just saw a 10.8 ETH refund on MEV-Share… … for a completely *private* transaction
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@SheaKetsdever
Shea Ketsdever
1 year
Excited to share a new searching guide from ⚡️🤖 Ep. 2 — Flash loan arbitrage We’ll cover 1. Creating a MEV-Share bot 2. How arb math *actually* works 3. The magic of flash loans
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@SheaKetsdever
Shea Ketsdever
1 year
MEV-Share beta is live on Ethereum mainnet
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@SheaKetsdever
Shea Ketsdever
2 months
Why TEEs matter in MEV and some apps I’m excited to build with them
@modular_summit
Modular Summit
2 months
MEV in 2025 by @SheaKetsdever
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@SheaKetsdever
Shea Ketsdever
2 months
1/ Introducing gas refunds from Flashbots — the open, permissionless alternative to proprietary orderflow deals. As of July 8th, gas refunds are available on all transactions sent to Flashbots Protect and Builder. The refund rule is open source and executed securely in TEEs.
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@SheaKetsdever
Shea Ketsdever
1 year
Mark your calendars for the first Flashbots CTF. 2023-08-05T00:00:00.00Z
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@SheaKetsdever
Shea Ketsdever
10 months
Had a great time talking with @katherineykwu about MEV, privacy, and SUAVE ⚡️
@archetypevc
Archetype
10 months
We're kicking off S4 of Archebyte with a deep dive into MEV with @SheaKetsdever from Flashbots ⚡️🤖 Shea walks us through the MEV supply chain, SAUVE, order flow auctions, and the future of programmable privacy. Find the full episode in the comment below ⤵️
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Shea Ketsdever
1 month
How to get rid of MEV-Boost relays TEE-Boost: A change to MEV-Boost that lets proposers disintermediate the relay and fetch blocks directly from builders running in Trusted Execution Environments (TEEs).
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@SheaKetsdever
Shea Ketsdever
1 year
Introducing a new series of searching guides from ⚡️🤖 Ep.1 — Limit orders on MEV-Share We’ll cover 1. Setting up a new bot 2. Listening to MEV-Share events 3. Sending limit order bundles 4. Simulations and debugging
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@SheaKetsdever
Shea Ketsdever
1 year
How searchers like jaredfromsubway can capture more MEV using an orderflow auction
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@SheaKetsdever
Shea Ketsdever
8 months
Flashbots Protect keeps you safer on Ethereum. Now, it's even easier to use! Excited to share ->
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@SheaKetsdever
Shea Ketsdever
8 months
This an important step for orderflow auctions — now *protocols* can capture their own MEV. Have enjoyed working with the UMA team on this. Some thoughts.
@UMAprotocol
UMA 🥚
8 months
Lending protocols lose hundreds of millions of dollars to MEV. It's time to capture that value. Built with @chainlink Data Feeds and Flashbots, Oval is now live. 🥚 🧵
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@SheaKetsdever
Shea Ketsdever
1 year
We’re growing the engineering team behind the Flashbots Builder and MEV-Share. Come work on some of the most intricate problems in block building, privacy, and MEV.
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@SheaKetsdever
Shea Ketsdever
1 year
🏴‍☠️
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@SheaKetsdever
Shea Ketsdever
3 months
On block building and the blob market 🧵 Last week, we saw the blob market enter price discovery mode after a surge of activity on L2s. To meet the demand, rollups posted a lot of blobs, which drove up blob fees and tested the market’s ability clear demand for blobs on L1.
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@SheaKetsdever
Shea Ketsdever
1 year
We’re upgrading Flashbots Protect to make private transactions faster⚡️ You can now connect to more builders through the Protect RPC
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@SheaKetsdever
Shea Ketsdever
11 months
If you’re still sending transactions to the public mempool — why?
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@SheaKetsdever
Shea Ketsdever
1 year
Play weird games, win weird prizes. Congrats to the winners of the Flashbots CTF. Out of 300+ searchers who registered, these addresses surprised and impressed us the most.
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@SheaKetsdever
Shea Ketsdever
2 months
TEE story of the week: 1. @sxysun1 makes TEE app that lets you collude in “mschf plays venmo” 2. @socrates1024 leaks alpha 3. Within 24hrs, both get kicked off real mschf game for inventing too good of a hack 4. Meanwhile, TEE app keeps running 5. Anonymous usage grows
@socrates1024
Andrew Miller
2 months
Hard to explain just how cool this demo is: @sxysun1 @maceip It's TDX-plays-MSCHF-plays-Venmo. Using TEEs to out-unhinge an already unhinged game. You use the forgot-password flow to give your account to a TEE that carries out a coalition strategy
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@SheaKetsdever
Shea Ketsdever
1 year
CTF is live.
@SheaKetsdever
Shea Ketsdever
1 year
Mark your calendars for the first Flashbots CTF. 2023-08-05T00:00:00.00Z
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@SheaKetsdever
Shea Ketsdever
1 year
Speaking at EthGlobal in a few hours! Tune in for the latest and strangest tales from the (private) mempool
@ETHGlobal
ETHGlobal
1 year
Leveling up the MEV Game with Flashbots with @SheaKetsdever
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@SheaKetsdever
Shea Ketsdever
11 months
This button makes Flashbots 10x faster. Get MEV protection & speed in one click.
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@SheaKetsdever
Shea Ketsdever
2 years
How would you design a game where geographic diversity of the participants is an *optimal* strategy?
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@SheaKetsdever
Shea Ketsdever
1 year
I’m mentoring a workshop on MEV applications next week at P2P: Paris! Join @_danielmarzec and I on a tour through the dark forest Founders can register here
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@SheaKetsdever
Shea Ketsdever
4 months
The flashbots TDX builder just landed its first block on ethereum mainnet. Trusted hardware is approaching native performance faster than you might think
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@SheaKetsdever
Shea Ketsdever
1 year
New to searching? Want to try MEV-Share? Come learn all the tips and tricks you need to hit the ground running. Brought to you by the Flashbots search team, ft. special guests July 20th. RSVP @
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@SheaKetsdever
Shea Ketsdever
5 months
How we added blobs to MEV-Boost
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@SheaKetsdever
Shea Ketsdever
11 months
We’re making some improvements to Flashbots Protect! Review your RPC settings by October 11th.
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@SheaKetsdever
Shea Ketsdever
5 months
1 million Protect users.
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@SheaKetsdever
Shea Ketsdever
1 year
Even with private RPCs, you can still get rekt. Get less rekt. Use MEV-Share. Comes out of the box with Flashbots Protect:
@bertcmiller
@bertcmiller ⚡️🤖
1 year
1. User trades 10 ETH for $73 of "WoofWork" & sends trade through Protect RPC 2. Flashbots' MEV-Share Node shares the user's trade but not direction 3. Searcher backruns, pays 4.3 ETH 4. User gets paid ~4 ETH back by Flashbots Builder Use Protect.
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@SheaKetsdever
Shea Ketsdever
1 year
This means a searcher generated over $20k in MEV without seeing anything about the user’s tx. They didn’t have access to the calldata, logs, or contract address — only the transaction hash. How is that possible?
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@SheaKetsdever
Shea Ketsdever
1 year
One of the best things about the CTF is seeing all the great open source work that people have created. I’ve come across a bunch of codebases, ideas, and write ups over the past few days. Here are a few of my favorites!
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@SheaKetsdever
Shea Ketsdever
2 months
Giving a talk about the evolution of searcher builders to kick off the second track at next week July 8th, 1:30pm in Brussels
@aori_io
aori ⑁
3 months
📆 Monday 8th July 2024, Brussels We’re pleased to present the official agenda with @bidflood , @chainbound_ , @PropellerSwap , @bloXrouteLabs , @BarterDeFi , @GluexProtocol and now @EnsoFinance . Register: All official communication
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@SheaKetsdever
Shea Ketsdever
9 months
Powered by Protect
@BreederDodo
DODO 📜
9 months
🎉We are thrilled to announce that DODO now supports Flashbots Protect! 🔍Flashbots Protect is a user-friendly, secure, and powerful way to transact on Ethereum for both novices and sophisticated users. 👇Learn how to utilize it in DODO:
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@SheaKetsdever
Shea Ketsdever
3 months
On June 10th we discovered an underflow bug in the reference implementation of the MEV-Boost relay's payload validation service. Thanks to reports from builders, we were able to patch the bug quickly and limit the known impact to a single slot.
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@SheaKetsdever
Shea Ketsdever
1 year
PSA for using protected mempools ⚡️ Sending the same orderflow to multiple providers can change your protection and privacy guarantees.
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@SheaKetsdever
Shea Ketsdever
2 months
rbuilder is fast. It builds mainnet blocks in sub-100ms on average, with a p50 fill time of ~20ms and p50 seal time of ~40ms (last 7d). That’s 10x faster than the Flashbots geth builder.
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@SheaKetsdever
Shea Ketsdever
1 year
Why I like programmable privacy: Sharing *some* information can improve execution. It unlocks value that would otherwise be lost to discoordination. But one size does not fit all. Privacy should be programmed according to the need — it’s a dial, not a switch.
@MaxResnick1
Max Resnick
1 year
Why I hate privacy: Ok now that we are all here let my clarify. I'm not anti privacy for everything (for example I'm a big fan of sealed bid auctions) but what I'm not a fan of is spray and pray private everything approaches. 1/4
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@SheaKetsdever
Shea Ketsdever
9 months
Speed up your transactions with fast mode ⚡️
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@SheaKetsdever
Shea Ketsdever
1 year
How would you create a market that is naturally resistant to monopolies?
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@SheaKetsdever
Shea Ketsdever
1 year
In total 0x95a4 made around 85 ETH in profit from their backrun. H/t @taarushv for the analysis! Of this amount, they sent 10.8 ETH back to 0xc4AA as a refund
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@SheaKetsdever
Shea Ketsdever
8 months
Permissionless auctions are good
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@0xangelfish
angelfish ⚡️🤖
8 months
Blog Post:
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@SheaKetsdever
Shea Ketsdever
2 months
We're open-sourcing rbuilder because we believe that an efficient and decentralized block building market must be built in the open. It incorporates everything we’ve learned in 2 years since creating the original MEV-Boost builder for the merge.
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@SheaKetsdever
Shea Ketsdever
1 year
What’s a feature that you wish Flashbots supported?
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@SheaKetsdever
Shea Ketsdever
1 year
Much appreciation to data wizards @taarushv @sui414 @epheph for this deep dive
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@SheaKetsdever
Shea Ketsdever
2 months
rbuilder is delightful to test. We created a new backtesting framework that can be run in a single CLI command and benchmark PRs in CI. rbuilder also comes with synthetic bundle data that mimics the behavior of real bots so anyone can test against mainnet-like conditions.
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@SheaKetsdever
Shea Ketsdever
1 year
But unlike a traditional IPO, the FCKIT team was actually able to recapture some of the value they leaked in the form of a MEV-Share refund. And with more searcher competition, this reclaimed amount would likely be even higher.
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@SheaKetsdever
Shea Ketsdever
2 months
Finally, and most importantly, rbuilder is built for the community. We're open-sourcing it with the express goal of sharing stewardship with contributors. To start, we’re interested to see PRs reduce e2e latency and experiment with new merging algos.
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@SheaKetsdever
Shea Ketsdever
11 months
These are the active Flashbots builders. Make sure you aren’t sending to an imposter.
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@nero_eth
Toni Wahrstätter ⟠
11 months
Analyzing the % of private order flow transactions for the past week among the 15 largest block builders, sorted by block count (desc). The "Flashbots Impos..." (Imposter) is a builder that tries to impersonate Flashbots. Mempool data is courtesy of @blocknative .
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@SheaKetsdever
Shea Ketsdever
1 year
Happy shapella to all who celebrate
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@SheaKetsdever
Shea Ketsdever
1 year
“MEV is a solved problem”
@DaBunnyOFFICIAL
bunny 🍌
1 year
Been buying Pudgy toys at Walmart for $6.50 and returning them at another Walmart for $8.50 Most profits I’ve seen from NFTs in a long time… Thanks Luca
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@SheaKetsdever
Shea Ketsdever
11 months
As a famous philosopher once said: If you stare into the soul of geth, the soul of geth stares back at you. Bring MEV alpha to life @
@0x9212ce55
0xprincess
11 months
Noticed that something that was a real MEV alpha for many years was very recently merged into main branch of the flashbots builder repo. Great job, @drog_v , @wazzymandias ! I might even consider migrating to your implementation for free upstream updates haha
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@SheaKetsdever
Shea Ketsdever
2 months
With gas fee refunds, you can just set the max price you’re willing to pay and the Flashbots Builder will bid to lower the cost on your behalf. It doesn’t change how your transaction is executed or require any extra steps. It just works.
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@SheaKetsdever
Shea Ketsdever
1 year
10 challenges. 48 hours. Crafted by the 1 and only @epheph . See you in the mempool, anon.
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@SheaKetsdever
Shea Ketsdever
2 months
Finally, gas refunds are designed to be secure and decentralized. This feature runs on top of the Flashbots TEE builder today and we’re taking further steps later this year to make refunds tamper-proof and censorship-resistant in a decentralized setting.
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@SheaKetsdever
Shea Ketsdever
2 months
rbuilder is the next frontier for block building. 100% of Flashbots blocks on L1 are built by rbuilder today and the same modular system can be extended to sequence L2s.
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@SheaKetsdever
Shea Ketsdever
1 year
TL;DR 1. Users should decide how, when and by who their transactions are executed 2. This lets them internalize their MEV and be included faster on chain 3. Flashbots is launching a beta release of MEV-Share with orderflow sharing to give users more power in the MEV supply chain
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@SheaKetsdever
Shea Ketsdever
1 year
Well, almost. The team behind FCKIT actually announced the token launch in advance. This means that searchers knew a transaction *like this* was going to be submitted around 12pm ET — even though they didn’t know exactly which hash it would be.
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@SheaKetsdever
Shea Ketsdever
1 year
@zeroXbrock @deadpine_xyz And that’s a wrap! Congrats to the 62 addresses that captured a flag 🏴‍☠️ Now that you’ve conquered goerli, the next challenge awaits — on mainnet. More soon.
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@SheaKetsdever
Shea Ketsdever
1 year
@socrates1024 Transactions are imperative while intents are declarative. With intents, you don’t have to be prescriptive about how a goal is achieved. This allows more creativity (and possibly optimization) in execution
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@SheaKetsdever
Shea Ketsdever
1 year
It’s also interesting to consider what this all means for the FCKIT team. The fact that 0x95a4 was able to make this profit by purchasing at launch and then reselling later suggests that the token was underpriced. That’s not an uncommon scenario, eg. in traditional IPOs.
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@SheaKetsdever
Shea Ketsdever
2 months
You can find the full refund rule in our docs. To get started, add Protect on fast mode (). You'll get MEV and gas refunds at ~public mempool speed.
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@SheaKetsdever
Shea Ketsdever
1 year
In a sense, competition between searchers via an OFA might be able to help a team discover (and capture) a more optimal price
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@SheaKetsdever
Shea Ketsdever
2 months
By the end of the year our goal is to build 99% of blocks in sub-100ms. The next major bottleneck is the state root, which accounts for ~30% of rbuilder’s e2e latency and is significantly slower in reth than geth. All of our optimizations have been and will be upstreamed.
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@SheaKetsdever
Shea Ketsdever
2 years
Happy valentines day from flashbots <3
@bertcmiller
@bertcmiller ⚡️🤖
2 years
Introducing MEV-Share: programmably private orderflow that empowers users, redistributes MEV, and takes a step towards decentralized block building MEV-Share is where transactions and bundles find their perfect match
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@SheaKetsdever
Shea Ketsdever
1 year
Sentient bundles
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@SheaKetsdever
Shea Ketsdever
1 year
Note that this is only ~12.7% of the total profit. There’s a substantial margin for other searchers to compete — look forward to seeing other blind searching techniques emerge
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@SheaKetsdever
Shea Ketsdever
8 months
Recommend checking out Oval’s mechanism if you’re interested in one direction that MEV apps are headed (towards redistribution!)
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@SheaKetsdever
Shea Ketsdever
1 year
If you're running a liquidation or sandwich bot then this one's for you. Use the "tx_hash" hint to tell other searchers what transaction you're bundling and get a cut of their profits if they backrun you.
@zeroXbrock
brock ⚡🤖
1 year
⚡️ New mev-share features in matchmaker-ts! 1. tx_hash hint -- searchers can share the tx hash of their bundle's transactions w/ other searchers. 2. event stream history -- query past events from the SSE event stream (useful for testing). How to use these new tools, and why:
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@SheaKetsdever
Shea Ketsdever
1 year
Briefly, MEV-Share is a protocol for sending and searching on Ethereum transactions. This guide will walk you through step-by-step how to write a MEV-Share bot and find profitable opportunities.
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@SheaKetsdever
Shea Ketsdever
1 year
Flashbots invites actors in the MEV supply chain to co-design decentralized protocols for orderflow in the Decentralized Orderflow Working Group. Join us in collaborating on open R&D questions
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@SheaKetsdever
Shea Ketsdever
1 year
Notably, 0xc4AA did not opt to reveal any hints about this transaction. So the only data that the Flashbots Matchmaker shared publicly was the tx hash. This means any searcher who backran this transaction would have been operating blindly.
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@SheaKetsdever
Shea Ketsdever
1 year
MEV-Share is a permissionless protocol for sharing orderflow between users and searchers. It prevents the MEV supply chain from centralizing around exclusive orderflow, by allowing any searcher to participate and not enshrining a single builder.
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@SheaKetsdever
Shea Ketsdever
2 months
rbuilder is modular and can be extended to work with custom merging and bidding code. A next major feature will allow colocating private code with mainnet builders, so even sensitive contributions can be run in prod in the future.
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@SheaKetsdever
Shea Ketsdever
8 months
@TrustlessState Good questions! It sounds like there are a few parts to the first one: 1. What are the benefits of the Protect RPC? 2. What does MEV-Share add to this? 3. How does that all relate to block building? Let me take them in order.
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@SheaKetsdever
Shea Ketsdever
4 months
These TEE sandboxes are cool. Searchers and applications will be able to run proprietary code inside a block builder. It also solves a common problem for builders who want to outsource opportunities to searchers. With TEEs, they can collaborate safely.
@fnerdman
fnerdman
4 months
Proprietary binary provisioning within TEEs can compromise confidentiality if not properly constrained or attested. Without adequate safeguards, a rogue provisioning service could replace the legitimate one. Learn more:
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@SheaKetsdever
Shea Ketsdever
1 year
MEV-Share is built on programmable privacy. Users decide how, when, and with who their orderflow is shared with searchers. This gives them the bargaining power to internalize the MEV their transactions create.
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@SheaKetsdever
Shea Ketsdever
8 months
Imagine that each point where value is generated (txs, bundling, building, etc) can auction its outputs off for further enrichment. We have many of the building blocks for this today but they need to be applied and refined.
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@SheaKetsdever
Shea Ketsdever
2 months
Many transactions could land on chain just as quickly for a fraction of the cost. But choosing the right gas fee is a headache for users, and these fees can cost applications multi-million $ in revenue per year
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@SheaKetsdever
Shea Ketsdever
1 year
In one year, the most performant builders will use
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@SheaKetsdever
Shea Ketsdever
2 months
Notably, refunds are permissionless and available to everyone. We use one rule to calculate a fair price for each transaction. Pricing refunds and making sure they can’t be gamed is a really hard problem so it's exciting to offer this permissionlessly to all users and searchers!
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@SheaKetsdever
Shea Ketsdever
1 year
Flashbots is releasing the Flashbots Matchmaker, a service that implements the MEV-Share protocol. The Flashbots Matchmaker is integrated into the Flashbots Protect RPC
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@SheaKetsdever
Shea Ketsdever
1 year
@0xShitTrader The beta release of MEV-share only supports backruns. There may be some value to internalizing frontruns, and we're exploring how to safely support them.
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@SheaKetsdever
Shea Ketsdever
8 months
What is it? Protect keeps your transactions safe. It protects you from frontrunning and helps you earn refunds. Protect has protected millions of transactions and refunded hundreds of thousands of dollars to date.
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@SheaKetsdever
Shea Ketsdever
1 year
Check out the guide to get started! @epheph and @zeroXbrock have also open sourced a complete version of the simple-limit-order-bot if you want to see the finished result
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@SheaKetsdever
Shea Ketsdever
8 months
Oracle updates are an obvious place to start because they’re a major source of MEV. Liquidations are estimated to produce $10s of millions a year — but the protocols that generate this MEV don’t capture it.
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@SheaKetsdever
Shea Ketsdever
1 year
@klkvrr @vinami And finally, for sharing an excellent open source solution to the CTF and advancing open source client libraries for MEV-Share, we present the FOSS badge to 0xf2f4 @yyyoisha
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@SheaKetsdever
Shea Ketsdever
1 year
@epheph @zeroXbrock This is the first of several guides, where we’ll walk through other features of MEV-Share and explore more advanced techniques. Let us know what you want to see next!
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@SheaKetsdever
Shea Ketsdever
1 year
Users, wallets, and dapps can use the Flashbots Protect RPC to access privacy and MEV redistribution. Searchers can subscribe to the Flashbots Matchmaker to access selective data from new sources of orderflow. Builders can register to receive bundles from MEV-Share.
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@SheaKetsdever
Shea Ketsdever
8 months
Thank you to @achalvs for the beautiful designs
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@SheaKetsdever
Shea Ketsdever
8 months
How do I use it? Just choose your settings and add Protect to your wallet. If you’re new, fast mode is an easy way to get started. You can always update this later on.
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@SheaKetsdever
Shea Ketsdever
1 year
@klkvrr @vinami @yyyoisha P. S. This went missing from the thread… suspicious… But there’s one more: For discovering a buried link and submitting the first registration to the CTF before it was publicly announced — we present the Spy badge to 0x5A85 😈
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