mev-explore-public
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Adding Cancelled MEV txs in
Thanks to Ankur for surfacing this issue.
There are two methods to cancel an MEV tx which are currently not accounted for in our system:
- Cancellation by gas replacement https://etherscan.io/address/0x8e670b4d6651c4051e65b21aa4a575f3f99b8b83 see all the "self" txs - the bot realizes it will lose a PGA and sends a higher gasprice tx to itself (or another address). limiting gasused to 21k instead of 30-50k for a loss
or alternatively
- 'Cancellation' by burning gas tokens https://etherscan.io/address/0x508f8825dd9d993c6d69cb257c902a2f5b877705 An address that burns a gastoken, limiting gasused to 13-14k instead of 30-50k for a loss
To get our profit numbers even more accurate, we could even add gas refund cost: e.g. cost of CHI tokens, GST2 tokens, and other refunds burned during an MEV tx.
Specific comments from Ankur:
- These are nontrivial - wouldn't be surprised if $50k+ is spent on gastokens used in MEV arbs every day.
- My guess is that % of MEV that goes to gas fees will be at least 30-40%+ of MEV tx miner income once you add everything up and fix misclassification issues.