Ethereum validators’ revenue from the “maximally extractable value” (MEV) reached record highs against the backdrop of the depeg of USD Coin (USDC) and the collapse of SVB.
Users rushed to withdraw the widely used stablecoin in the DeFi sector, enabling operators of Flashbots’ popular MEV solution to earn 7691 ETH (~$13 million) on March 11.
Flashbots head Rob Miller noted that the daily income of validators using MEV-Boost nearly doubled relative to the previous peak recorded during the FTX collapse.
MEV-Boost payments were at an alltime high yesterday, totaling 7691 ETH (!) which is nearly double the previous ATH of 3928 ETH during the FTX fiasco this fall.
A few statistics on MEV on Ethereum yesterday in this thread
(h/t @nero_eth for the data)
— @bertcmiller ⚡️? (@bertcmiller) March 12, 2023
By March 12, revenue from using the technology had returned to normal levels.
Ethereum developer Anthony Sassano expressed hope that \”his validators\” managed to take advantage of the situation and extract their MEV share.
The amount of MEV being extracted right now due to the USDC depeg must be insane
Hoping my validators propose a block during this ?
— sassal.eth ?? (@sassal0x) March 11, 2023
In February, the operator of the solution, Flashbots, introduced the MEV-Share protocol. It aims to expand earnings opportunities for Ethereum users.