Bitfly Launches The MEV Beta Program

Bitfly announced via Twitter that, in order to compensate the upcoming mining reward reduction caused by the adoption of EIP-1559, the company has launched an MEV beta program. It means that 80% of the MEV revenue will be distributed alongside the mining block rewards, 5% will be used to support the Ecosystem via Gitcoin grants, and the remaining amount will be used for further development of the MEV strategies.

"In total we expect an increase of 1-10% in mining rewards," according to a tweet published by the compnay.

In the meantime, Bitfly also explained that the platform's opposition on EIP-1559 is due to security concerns. These concerns could get mitigated by adopting EIP-3368. Independent of the outcome (EIP-1559 & EIP-3368), they'll never endorse nor participate in any kind of hostilities by miners against the network.

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