As per reports, a reward of 689 Ethereum (ETH) worth $1.28 million, was paid from a Miner Extractable Value (MEV) boost relay block to the Ethereum Beacon Chain, stated Cointelegraph. It is believed that this is one of the largest amounts rewarded compared with the past few months.
As reported by Cointelegraph, Lido, an Ethereum (ETH) liquid staking solution, was rewarded on the Beacon chain from a blocked number. On April 9, sources revealed that the payment contained around 47 transactions which were built by beaverbuild.org, added Cointelegraph.
“More than 90% of the MEV currently being paid to validators could go to users if all users or wallets would use services like mevblocker.io,” Martin Köppelmann, co-founder, CEO, Gnosis, an Ethereum-based infrastructure platform, tweeted.
It is expected by MEVBlocker, that MEV bots might have withdrawn over $1.38 billion from the Ethereum(ETH)users in an attempt to provide liquidity, trade and mint non-fungible tokens(NFTs), added Cointelgraph.
Experts believe that these MEV-boost relays are withdrawing the amount by combining blocks from different builders and selecting the one with the highest rate, Cointelegraph concluded.
(With insights from Cointelegraph)