𝐩𝐫𝐨𝐟

UNITED STATES NATIONAL DEBT HITS $39 TRILLION

We got it boys 👌

Earlier today, a user attempted to buy AAVE using $50M USDT through the Aave interface. Given the unusually large size of the single order, the Aave interface, like most trading interfaces, warned the user about extraordinary slippage and required confirmation via a checkbox. The user confirmed the warning on their mobile device and proceeded with the swap, accepting the high slippage, which ultimately resulted in receiving only 324 AAVE in return. The transaction could not be moved forward without the user explicitly accepting the risk through the confirmation checkbox. The CoW Swap routers functioned as intended, and the integration followed standard industry practices. However, while the user was able to proceed with the swap, the final outcome was clearly far from optimal. Events like this do occur in DeFi, but the scale of this transaction was significantly larger than what is typically seen in the space. We sympathize with the user and will try to make a contact with the user and we will return $600K in fees collected from the transaction. The key takeaway is that while DeFi should remain open and permissionless, allowing users to perform transactions freely, there are additional guardrails the industry can build to better protect users. Our team will be investigating ways to improve these safeguards going forward.

correct me if I'm wrong but this seems like the largest ever single-block builder profit in ethereum history, ~$33m to titan it also may be one of the largest MEV block rewards ever on eth, a 568 ETH proposer payment which falls just behind the SVB USDC depeg (had a 692 ETH payment), 2023 sushiswap whitehat hack (689 ETH), and 2023 curve whitehat hack (584 ETH) others already commented on the original issues with the order (illiquid route + insane $155k AAVE limit price), but here's where the $50m went: - $36k to the user's cowswap order (331 AAVE) - $619k cowswap solver fee - ~$9.9m to the MEV bot that backran the 17,957 ETH -> 331 AAVE swap (backrun was 128 AAVE -> 17,959 ETH) - another ~$2.6m to the same MEV bot from backrunning the $50m USDT -> $37m WETH swap over multiple txs - ~$34.3m fee to titan from the MEV bot (includes $1.2m to lido as the block proposer) - ~$3.5m in dex swap fees + residual smaller arb txs insane payday for titan, who sent their profits to coinbase, and this single MEV bot took the majority of the arbs in both the illiquid AAVE/WETH pool and the $13m slippage swap in the main USDT/WETH pool

if anyone runs a museum and want a free tank, lmk too