The #1 Unknown ALTCOIN Ready for MOON LIFTOFF!!

The billions upon billion that is becoming
Ethereum, is something that cannot be ignored for any longer. And the billions upon billion, it moves each
day…is becoming just as important. Many can’t see it, but a collision of value
is dawning on the Ether. DeFi and the users versus those that have
secured the network since its birth. The Miners.

So pick a side, for the future of Ethereum…because
it's time for Chico Crypto MEV, Miner extractable Value, a topic not
too many crypto investors have even heard of, let alone understand…is on the top of
MIND for blockchain and dapp developers. So what exactly is it? MEV is the measure of the profit a miner can
make through their ability to arbitrarily include, exclude, or re-order transactions
within the blocks they produce. It doesn’t have to be a miner either, it
can be a proof of stake validator, sequencer and the like. Charlie Noyes, one of the lead researchers
of Paradigm…the star VC firm. Put out a blog post just in February of this
year titled MEV and ME. And in it, he gives a great example of MEV. He says “Imagine there’s a $10,000 arbitrage
opportunity available on Uniswap after a large trade has caused price slippage. An arbitrage bot notices the opportunity and
submits a transaction to capture it, offering a $10 txfee to the miner. The $10,000 potential profit from this opportunity
is the total MEV. One of two things may happen: 1.A miner will copy and censor the arbitrageur’s
transaction in order to capture the opportunity themselves.

2. Other bots will notice and bid a higher txfee,
starting a bidding war for the right to capture the arbitrage. AKA, miners are influencing trading and swapping
more than they should. And this is just an example with uniswap,
with all the other defi applications and protocols popping up daily MEV, is going to become a
big issue. In the article Charlie says “As a direct
result of DeFi’s inflective success, the known lower bound of Ethereum MEV is growing
at an exponential rate.

At this pace, we believe that MEV could create
meaningful issues within the next year” Now before we get into what is being done
to stop this, we need to understand how connected Paradigm, and Charlie Noyes are to Uniswap. Paradigm was the VC firm, which gave Uniswap
it’s initial funding back in April of 2019, and then again in August of 2020, for a second
investment in their series A, august of 2020.

Which had caused Hayden, founder of Uniswap,
to even tweet about their positive and mutually beneficial relationship. Obviously Uniswap & Paradigm are close. So why is Paradigm, Uniswap’s backer so
interested in MEV? Well according to the MEV dashboard, which
breaks down this by the protocol of where it happened….and Uniswap takes the cake,
making up nearly 50 percent of all MEV transactions. Uniswap has a problem….So what is being
done to stop this? Well Charlie discusses the potential solutions
back in the blog in the section “Mitigating MEV”.

He says “Hopefully, the next year will bring
more clarity on MEV and Ethereum’s path forward. A number of Paradigm’s portfolio companies
are working on MEV mitigations and related problems. If this is of interest to you, don’t be
a stranger” and lists those portfolio companies working on MEV. Including the 2 rollups paradigm is invested
in. Optimism and Starware’s ZKrollup….but
just below them is another paradigm portfolio company….Flashbots…. Charlie says this in the flashbots section:
“Flashbots is a research and development organization formed to mitigate the negative
externalities and existential risks posed by MEV, starting with Ethereum. They have built out tooling to quantify MEV
and eliminate the information asymmetry in the ecosystem. They are now implementing a proof of concept
for permissionless MEV extraction called MEV-Geth, a sealed-bid block space auction mechanism
for communicating transaction order preference.” “Flashbots’ goal is to make sure MEV incentives
do not become opaque and undemocratic.

Hopefully, their infrastructure will allow
application developers to better understand how to minimize their MEV exposure, and let
some pressure off that could otherwise accumulate into really harmful externalities like time
bandit attacks.” Flashbots, is illuminating the dark forest,
by creating tooling to visualize it. Yes, that MEV dashboard we used to see that
Uniswap accounts for nearly 50 percent of MEV transactions…built by Flashbots…which
has a ton more data, total MEV, MEV by day, MEV by type, MEV by role, Ethereum Network
Activity From Extracted MEV…wasted fees, wasted blocks…and even a MEV leaderboard
to see the culprits So who is behind this Flashbots? Well it’s none other than @thegostep on
twitter, Stephane Gosselin. We know Stephane…don’t we. Well Charlie said Flashbots and thegostep
was working on something. He said in the blog “A proof of concept
for “permissionless MEV extraction called MEV-Geth. He explained this as “a sealed-bid block
space auction mechanism for communicating transaction order preference”
So, how long has this been being worked on? Well about 6 months ago, thegostep posted
this in ether research.

“Flashbots: Frontrunning the MEV crisis”…which
dove into MEV Geth, including how it worked, and how to use it as a searcher and miner. But the key words from flashbots we need to
remember is this is “front-running” the MEV crisis and MEV GETH is “sealed bid block
space auctions”…why remember that? Well Stephane, has been working on this for
a lot longer than just 6 months. As we can see in November of 2018, caught
on slideslive, he presented Lil Submarine..what did this do? It temporarily hid transactions on Ethereum…and
from the description, the notable use cases include preventing frontrunning on DEXs,hmmmm…. allowing sealed-bid auctions, hmmmmm and allowing
private voting with a public tally…. Frontrunning, sealed bid auctions. Lil Submarine from 2018 was a precursor to
Flashbots, thus Flashbots isn’t anything new… But preventing frontrunning on DEXs, decentralized
exchanges. It has been a goal OF his for some time…So
I wonder if something new launched from thegostep could be involved with this? Like something that would require alchemy!? Like Alchemist Coin! Well if you go into the github of alchemist
coin, you can see something called MistX frontend…clicking into it.

No explainer of what this is & no backend. So what is MistX? Well luckily Chico can dig like no other…so
let’s begin. Going back to MEV-Geth the proof of concept
from Flashbots. February 18th, Stehane spoke on this with
the Zero Knowledge Podcast. Let’s hear what he had to say. A direct connection to the miners….how about
this connection? Let’s go back to MistX..and Using the wayback
machine, I found when the backend of it was included in the github of alchemist and they
explained just what MistX was.. It’s purpose.First… Bundle the frontend transactions into blocks. 2nd Finds miner extracted value (MEV), and
then sends them to miners through a direct connection. And third I’m going to black out everything,
as you have to find it yourself, but as you can see there is an alchemist crucible emoji
right there. MISTX sounds like it has a lot to do with
MEV-GETH and it’s github is not public anymore…it’s private. Could MistX and crucibles have something to
do with the gas savings of Uniswap v3? Only time will tell, but the connections are
there Uniswap to Paradigm to Paradigm to flashbots, from flashbots to thegotstep, from the gostep
to alchemist.

Cheers I’ll see you next time!.

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