NEW ALPHA FEED: The Block Builder Landscape

Following the publication of ‘Who Wins Ethereum Block Building Auctions and Why? ’ by @sui414, @soispoke & @boez95, we dissect all the data on the collaboration between searchers and builders.

A few takeaways from @quienesfacundo's analysis 👇

🔹 The paper analyzed data from October 2023 to March 2024, showing 39 block builder entities won the MEV-Boost auction, producing 1,190,617 blocks.

🔹 ~80% of all blocks proposed in a day are built by either beaver, rsync, or Titan.

🔹 Only 10 builders have ~1% market share or more. Together, they produced 97.67% of the blocks and earned 83.85% of the 52M USD total builder profit

This diagram shows the taxonomy of transaction transparency and order flow labels.

Each transaction has a transparency label (orange) based on network visibility and an order flow label (purple) based on its objective 👇

The gray labels from the order flow labels represent popular providers of such order flow:

🔹Exclusive Signal: Accounts for ~66% of block MEV while using ~19% of blockspace and contributes 71% of total block value in over half of the blocks.

🔹OFA Bundles: Rarely adopted and barely visible in the chart.

Most transactions, labeled as public signal (green), occupy over 80% of blockspace but contribute significantly less MEV than exclusive signals.

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