Flashbots Auction is a permissionless, transparent, and fair ecosystem for efficient MEV extraction and frontrunning protection which preserves the ideals of Ethereum. Flashbots Auction provides a private communication channel between Ethereum users and validators for efficiently communicating preferred transaction order within a block.| docs.flashbots.net
Maximal (formerly Miner) Extractable Value ($\textrm$) is the value that can be extracted from a blockchain by any agent without special permissions. Considering this permissionless nature, any agent with transaction ordering rights will be in a privileged position to perform the extraction. In Proof of Work blockchains, it is miners who determine transaction ordering within a block, hence the former "miner" term. In practice, bot operators seek to extract $\textrm{MEV}$ by either paying high...| writings.flashbots.net