Row 97062

Row ID: 97062 | Dataset Entry | Axioma AXP Content Repository

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I'm running a Rocket Pool validator and let me tell you - honestly, it's desperate work.

I've yielded around 6% total since I began.. which is over 60% above the market average, basically meaning I won the lottery. What happened was in my first few weeks validating, using Flashbots MEV relay during a crazy bout of congestion, I managed to score a 2 ETH block. Then in the last 12+ months my validator haven't gotten a single proposal, so I've yielded 0 ETH since then. There's about an equal chance I could have yielded 0% this entire time instead of the 2 ETH, seeing as LOTS and lots of validators still haven't gotten their first proposal, or else have maybe netted 0.5% by opting out of MEV. Considering I needed RPL exposure to run my validator, I've *maybe* just hardly broken even on costs after all this time.

In short, if I get another proposal you better bet I'm not planning on screwing with the block myself and instead taking the max-profit option offered to me..

Gas bids are public information, at least for now. If there's a $5000 opportunity somewhere to be had and I bid even $4000 in gas to somehow front-run it, MEV searchers and others will bid $4001 and the validator will ignore my transaction due to their own incentive to achieve maximum profit - actually more likely, the MEV searcher will find a creative way to include both of our transactions, so I end up paying $4000 and they still manage to take the $5000 arb from me (which is my experience doing DEX arbs on my own, even with paltry $20 amounts).

Flashbots has ~50 dedicated MEV searchers working for them using extremely specialized systems. They will always, every time, be able to outdo whatever opportunities I could manage to find on my own. I am not going to spend hundreds of thousands of dollars per year simulating 5 blocks every minute, all so for my 12 seconds of fame I'm prepared well enough to find the $5000 needle in the haystack. It wouldn't make sense economically even if I was running 1000 validators by myself, even individual Lido operators with 1% of the total ETH stake (~10,000 validators) are using MEV relays.

There is only something like 8 or 10 MEV relays that people use. If it was easy work, there would be thousands to choose from the way there are tens of thousands of RPC nodes to pick out of. If one MEV relay's historical average is even 0.05% higher than another, no one will use that other one, and with fewer people the less funding it has to get any better. It is a vicious competition.

Centralized MEV relays are actually a huge issue with Ethereum/Solana, and any other active blockchain people pay to use now or in the future. Ethereum plans to remove some of the MEV relay's power by enshrining this emergent "proposer-builder seperation" directly into the core protocol, so no block builder orders their own blocks but also no proposer has the ability to freely censor (and some do), but the underlying mechanics will always persist.

Any money wasted on searching for MEV would be better spent on rETH or ETH just IMHO. But idk maybe you get lucky or find some novel approach no one's thought of before. Don't let me stop you if this is something you're seriously interested in.

FieldValue
text I'm running a Rocket Pool validator and let me tell you - honestly, it's desperate work. I've yielded around 6% total since I began.. which is over 60% above the market average, basically meaning I won the lottery. What happened was in my first few weeks validating, using Flashbots MEV relay during a crazy bout of congestion, I managed to score a 2 ETH block. Then in the last 12+ months my validator haven't gotten a single proposal, so I've yielded 0 ETH since then. There's about an equal chanc…
label r/ethereum
dataType comment
communityName r/ethereum
datetime 2024-05-25
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url_encoded Z0FBQUFBQm5LalBCaFE2cjNPZ2kxNG9wY0NSa2hfTTdseEM0eTEzVU1hMU10cEhqaWFaZE9oaVRlaDR5N0VMaEhMZ2x4eE5MMkZEUjRyZkdud2dGd3JsSDdiTWxqbVJCOTJMdFR1U19Vdk5mWXN5SU9qVG04SGNJaEp2bndsaXJVVmFfN2VmRUJtaXIyX09mTGx3TGkyTXZQdzljRWxaN2RSVHFCLXNNVjVnSHptcl8yQk9HZFlVPQ==

Raw Record

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  "text": "I'm running a Rocket Pool validator and let me tell you - honestly, it's desperate work.\n\nI've yielded around 6% total since I began.. which is over 60% above the market average, basically meaning I won the lottery. What happened was in my first few weeks validating, using Flashbots MEV relay during a crazy bout of congestion, I managed to score a 2 ETH block. Then in the last 12+ months my validator haven't gotten a single proposal, so I've yielded 0 ETH since then. There's about an equal chance I could have yielded 0% this entire time instead of the 2 ETH, seeing as LOTS and lots of validators still haven't gotten their first proposal, or else have maybe netted 0.5% by opting out of MEV. Considering I needed RPL exposure to run my validator, I've *maybe* just hardly broken even on costs after all this time.\n\nIn short, if I get another proposal you better bet I'm not planning on screwing with the block myself and instead taking the max-profit option offered to me..\n\nGas bids are public information, at least for now. If there's a $5000 opportunity somewhere to be had and I bid even $4000 in gas to somehow front-run it, MEV searchers and others will bid $4001 and the validator will ignore my transaction due to their own incentive to achieve maximum profit - actually more likely, the MEV searcher will find a creative way to include both of our transactions, so I end up paying $4000 and they still manage to take the $5000 arb from me (which is my experience doing DEX arbs on my own, even with paltry $20 amounts). \n\nFlashbots has ~50 dedicated MEV searchers working for them using extremely specialized systems. They will always, every time, be able to outdo whatever opportunities I could manage to find on my own. I am not going to spend hundreds of thousands of dollars per year simulating 5 blocks every minute, all so for my 12 seconds of fame I'm prepared well enough to find the $5000 needle in the haystack. It wouldn't make sense economically even if I was running 1000 validators by myself, even individual Lido operators with 1% of the total ETH stake (~10,000 validators) are using MEV relays.\n\nThere is only something like 8 or 10 MEV relays that people use. If it was easy work, there would be thousands to choose from the way there are tens of thousands of RPC nodes to pick out of. If one MEV relay's historical average is even 0.05% higher than another, no one will use that other one, and with fewer people the less funding it has to get any better. It is a vicious competition.\n\nCentralized MEV relays are actually a huge issue with Ethereum/Solana, and any other active blockchain people pay to use now or in the future. Ethereum plans to remove some of the MEV relay's power by enshrining this emergent \"proposer-builder seperation\" directly into the core protocol, so no block builder orders their own blocks but also no proposer has the ability to freely censor (and some do), but the underlying mechanics will always persist.\n\nAny money wasted on searching for MEV would be better spent on rETH or ETH just IMHO. But idk maybe you get lucky or find some novel approach no one's thought of before. Don't let me stop you if this is something you're seriously interested in.",
  "label": "r/ethereum",
  "dataType": "comment",
  "communityName": "r/ethereum",
  "datetime": "2024-05-25",
  "username_encoded": "Z0FBQUFBQm5Lak12OS1jOXZ6UTBFbjY4dUlWRkswZl85aTdXN0x4d25tYVFlZHJmdGZTMW1WLVZycUx4UldyckVYUVM5U19yWWt0UVQweWMxNGoyaDJUeXhhN2ZHVS1zaUE9PQ==",
  "url_encoded": "Z0FBQUFBQm5LalBCaFE2cjNPZ2kxNG9wY0NSa2hfTTdseEM0eTEzVU1hMU10cEhqaWFaZE9oaVRlaDR5N0VMaEhMZ2x4eE5MMkZEUjRyZkdud2dGd3JsSDdiTWxqbVJCOTJMdFR1U19Vdk5mWXN5SU9qVG04SGNJaEp2bndsaXJVVmFfN2VmRUJtaXIyX09mTGx3TGkyTXZQdzljRWxaN2RSVHFCLXNNVjVnSHptcl8yQk9HZFlVPQ=="
}
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