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Flashbots Update: Mega Bundles

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Mega Bundles will enable the web to innovate faster, support more bundles, and will lead to new searcher strategies and more revenue for miners.

The latest major update of Flashbots introduces mega Bundles

Robert Miller, Flashbots

原文编译：Kyle，元宇宙之道

Flashbots, the Ethereum MEV marketplace solution, officially launched v0.4 today and introduces Mega bundles to the Flashbots network.

Mega Bundles will enable the web to innovate faster, support more bundles, and will lead to new searcher strategies and more revenue for miners.

What are Mega Bundles?

Flashbots is an open MEV marketplace. On one side of the market, users submit "bundles" of transactions. In other sections, miners auction and include the highest gas price bundles into the top block.

This allows miners of any size to extract MEVs, which is important for the financial security of the Ethereum network.

In the early days of Flashbots, only one bundle could be contained in a block, which was a huge limitation. V0.2 introduced multiple bundles per block through a merge process and gave miners control over the number of bundles they wanted to include in the block.

The amount of computation required to merge bundles is very large.

First, each bundle is simulated to figure out what its gas price is.

The bundle with the highest gas price is then placed at the top of the block.

Next, try to merge the second highest gas price bundle by simulating the top bundle with the second bundle.

If the second bundle is revoked, it conflicts with the first bundle (for example, targeting the same window of opportunity) and is discarded.

If the bundle does not undo, we try to merge the bundles 3 and 4...... The NTH bundle repeats the process.

Most miners stick to merging 2 or 3 bundles, because as the number of bundles increases, merging becomes more difficult.

Flashbots' miner software, MEV-Geth, manages this process by parallelizing and selecting the most profitable number of merges/bundles.

But there are limits to what can be done at the MEV-GEth level, beyond which there is no scaling.

One final note before moving on to Mega Bundles.

So far bundles have been sorted according to gas prices rather than profitability. This means that other gas-intensive MEVs, such as clearing, are at a disadvantage compared to less gas-intensive MEVs, such as arbitrage.

However, the most profitable thing for miners is not always to classify bundles by gas price. Some MEVs can be left on the table.

However, due to the limitations of the MEV-GETH merger, ordering by gas price is the most feasible approach. So Flashbots makes this tradeoff.

Flashbots took a big step forward today with the release of Mega Bundles. Simply put, Mega Bundles are bundles that are consolidated before being sent to miners.

Miners can move the problem of merging and sorting bundles upstream if they wish, including but not limited to Flashbots Relay.

Specialization can be achieved by moving merge and sort problems upstream.

According to Flashbots' plan, bundle consolidation can be extended by orders of magnitude. Flashbots also has ideas for new ways to sort bundles to support new strategies and increase searchers' and miners' revenue.

Mega Bundles also support faster product iterations. The previous delivery function meant that updates to MEV-GETH needed to be coordinated across miners, who accounted for about 85% of ETH computing power, a difficult process.

Now, in many cases, we can simply update the relay's super binding code.

Flashbots is building a team of superstars to solve this problem.

Mega Bundles are an important step towards the block-wide proposal. As we set out in our design for the MEV market, separating block builders and block proposers is an integral part of ensuring that MEV is aligned with crypto development over the long term.