Blockchain News- Lido was compensated for its efforts in block 17007842 of the Beacon Chain.
- The payout is quite close to Lido’s all-time high of 691 Ether, which was on March 20.
One of the highest rewards in recent times, 689 Ether worth $1.28 million, was awarded from a single Maximal Extractable Value (MEV)-boost relay block on the Ethereum Beacon Chain. According to information gleaned from blockchain transactions, Lido was compensated for its efforts in block 17007842 of the Beacon Chain, which was completed on April 9 and contains 47 transactions.
The payout is quite close to Lido’s all-time high of 691 Ether, which was obtained on March 20. Martin Köppelmann, co-founder and CEO of Ethereum-based infrastructure platform Gnosis, was surprised by the number and advised Ethereum users to use a tool like MEV Blocker to safeguard their transactions.
In an effort to trade, offer liquidity, and issue non-fungible tokens (NFTs) on Ethereum, MEV bots have reportedly stolen over $1.38 billion. These centralized MEV-boost relays may maximize value extraction by selecting blocks from the builder with the highest fees from a pool of builders.
The “sandwich” attack is a popular MEV hack in which the attacker performs a significant trade on each side of the transaction of the victim, thereby manipulating the price and benefitting from the change. Proposer-builder separation, proposed in 2021 by the Ethereum research group Flashbots in anticipation of Ethereum’s switch to proof-of-stake in September 2022, is the genesis of MEV-boost relays.
To increase competition at the consensus level, deepen Ethereum’s decentralization, and bolster its resilience to censorship, the roles of proposers and block builders have been split. While the amount of OFAC-compliant blocks has decreased after the Merge, Ethereum has experienced a number of censorship concerns related to the organization’s compliance with these regulations.
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Source: https://thenewscrypto.com/689-eth-worth-1-28m-paid-to-lido-from-single-mev-boost-relay/