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A Maximum Extractable Value (MEV) bot on Solana recently made $1.7 million from a Dogwifhat (WIF) trade.
The $1.7 million profit by MEV bot
The bot executed a series of trades involving 703 SOL and 490,000 WIF, converting them back into 19,035 SOL.
MEV bots are automated algorithms that scan blockchain networks for profitable trading opportunities. They exploit price differences between exchanges and execute orders according to predefined criteria.
The MEV bot used the off-chain block space auction system developed by Jito Labs. This system enables traders to submit transaction bundles with bids for inclusion in Solana, improving transaction reliability and efficiency.
The arbitrage opportunity emerged when a trader, “zeroxtrading.sol,” purchased WIF worth $8.9 million in a low-liquidity market.
This large buy order forced WIF prices to $3, a 1,400% premium. The MEV bot quickly seized this opportunity without negatively impacting other users or the network.
MEV tips generated from SOL earned through these trades are directed toward validators running the Jito client on Solana.
This mutually beneficial relationship motivates validators to maintain a stable network while MEV bots extract value from trading opportunities.
Rebel Satoshi presale
Crypto can present opportunities. Rebel Satoshi is one such prospect, having already sold over 100 million RBLZ and raised over $1.5 million through its presale.
RBLZ is available for 0.0224 USDT at the current stage.
Rebel Satosh, whose smart contracts have been audited by Source Hat, is deploying on Ethereum.
With its approach, secure foundations, and growing community, supporters are bullish on RBLZ.