Gambit Labs

Gambit Labs develops solutions to capture value in DeFi. We produce blocks that maximize validator payout.

[Gambit Labs @gmbitco]

@0xe8_team @MevRefund DM sent on Discord. Truthfully missed your first reply in the thread. Saw the this one and then your message on Discord. Let’s continue the conversation.

[Gambit Labs @gmbitco]

@MevRefund (Added additional checks/guards and monitoring to handle this case; assuming it is what in fact happened)

[Gambit Labs @gmbitco]

@MevRefund After building that block, payout was not competitive enough so we switch to giving all proceeds to the proposer by setting the coinbase to the proposer address. We do it in a fast rebuild, without additional revert check. I suspect that’s what happened here. Still investigating.

[Gambit Labs @gmbitco]

@MevRefund See next comment :) tweet got too long.

[Gambit Labs @gmbitco]

@MevRefund Bit more info, the revert was due to out of gas trying to pay the coinbase (which was set to the proposer). Here’s the trace https://t.co/aMZm2PyNE3 (scroll to the end). The proposer is a contract (does fee distribution https://t.co/GpzsfUSJMx)

[Gambit Labs @gmbitco]

@MevRefund We don’t unbundle any requests sent to us, and we drop reverting bundles while respecting the reverting tx hashes field. Also, the coinbase was set to the proposer, we didn’t take any profits in this block. Will investigate further why it reverted.

[Gambit Labs @gmbitco]

@MevRefund Agree, wouldn’t make sense for them to do that.

[Gambit Labs @gmbitco]

@titanbuilderxyz ^ in case someone running a relay is interested in further exploring from that end (@ultrasoundmoney, @blocknative, @GnosisDAO)

[Gambit Labs @gmbitco]

@titanbuilderxyz These are their pubkeys (as seen from last 50 blocks):

"0x82790923494535e417675b13e580be40d15bd3a8ddcab925e6c19e919c55b6e7bed5037925ba67caeb715dcc74d720da"

"0xa4024c0050986bceee0b58e24455c7bb620a6ca96725026f315a6e3b4114fdc54092c4c87f6de72a39413371a27e5d83"

[Gambit Labs @gmbitco]

@SheaKetsdever To be clear,
* Data is available with a delay of N blocks
* Shared is: bundle hash, bid amount, and if it reverted
* Data is only queryable via a target tx hash

What issues does FB see with this level of visibility that goes against FMP? Is there specific data that's of concern?

[Gambit Labs @gmbitco]

@SheaKetsdever Would appreciate more detail/explanation for the specifics we're proposing here :)

It's important to make the distinction of what's being revealed. We're thinking of this in terms of there being a minimal amount of bid info that benefits searchers/users without causing any harm.

[Gambit Labs @gmbitco]

@SheaKetsdever We are experimenting with this view into the auction helping searchers understand where their bids sit against competition or to debug their systems (https://t.co/BlIbuPCVuS). Bundle content is not revealed. Is this problematic for FB concerning the principles outlined above?

[Gambit Labs @gmbitco]

@SheaKetsdever How does FB think about privacy concerning past blocks and anonymization? And in particular revealing data about bids vs bundles themselves (like the relay data APIs).

[Gambit Labs @gmbitco]

We also built a light visualization on-top of this new API. Here's an example https://t.co/wNa3FcF27y

[Gambit Labs @gmbitco]

Don't search blind. With https://t.co/3JxUcf850F Searchers now get visibility into the bundle auction. We're proposing APIs served by Block Builders to help Searchers understand how intense competition is around a target tx, check overbidding, and if the builder is rational.

[Gambit Labs @gmbitco]

We intend for these APIs to aid searchers while maintaining privacy through anonymized fields, delayed results, and aggregation. You can read more at https://t.co/3JxUcf850F and start putting it to use today with our Block Builder. Bundles you send you can then query and compare.