Counter MEV: The Deli
Have you ever wondered about the field of MEV and what's possible within the field? Introducing counter MEV! Instead of building bots to find profitable execution flows from protocols on the blockchain, we build bots that target other bots but not in the generalised frontrunner way! Want to learn more about Web3 MEV on Ethereum? Let DeGatchi teach you all about this facinating field!
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Intro
So what exactly is counter MEV (CMEV)?
We all know there is cOuNtEr MeV in terms of generalised frontrunners that would identify a transaciton in the mempool, do some heuristics on whether there is profit to had, and then dispatch a transaction that mimicks the proiftable one that another person submitted but with the replacement of their address with their own, essentially stealing the transaction.
But this isn’t counter MEV.
What is counter MEV?
CMEV is when you build a bot with the sole purpose of targetting other MEV bots. A great example is the infamous Salmonella Contract by Nathan Worsley, which coined the “toxic token” contract. Essentially, it was an ERC20 token with a kicker. Whenever someone executed either transfer() or transferFrom() and they weren’t ownerA or ownerB they would only received 10% of their desired tokens. So if you were going to transfer 100 tokens, you would get 10. And so he integrated this into a uniswap v2 pool, the heart of all MEV. When the MEV bots came swarming in for sandwich attacks from his baiting system, they would lose 90% of their money, wrecking each one that fell for the bait swap transactions.
This is a genius idea. However, when you think of CMEV
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