Source: blockchain.news
Stephane Gosselin, co-founder of Flashbots, Announced on Friday that he resigned from the Maximum Extracted Value (MEV) service after disagreements with the team.
Gosselin revealed that he stopped working for the maximum extracted value (MEV) business last month due to differences with the team. However, it is still unclear what position he left at work: he has served as co-founder, general manager and board member at Flashbots.
While Gosselin didn’t reveal details about his fights with colleagues at work, he did express pride in the project’s accomplishments. He said that maintaining resistance to censorship is essential for a diversified and competitive MEV environment.
“In the short term, I am hopeful that validators will avoid connecting to relays that do censorship. Blockspace providers that put economic pressure on censorship will go a long way in making sure it doesn’t become ubiquitous,” Gosselin said.
Flashbots, which was co-founded by Stephane Gosselin and Phil Daian in 2020, is a research and development company focused on maximum extractable value (MEV). MEV is the profit a miner or validator can make through their ability to arbitrarily include, exclude, or reorder transactions from the blocks they produce.
The flashbots made headlines in August when they blacklisted Tornado Cash-associated wallets sanctioned by the US Treasury Department, a move that sparked outcry from members of the Ethereum community. Flashbots opened up part of its MEV-Boost code in response to the US Treasury sanctioning the Tornado Cash protocol in August, highlighting that its US-based team must comply with the legislation.
While some members of the Ethereum community welcomed Flashbots’ decision, others were not enthusiastic about the move. Tornado Cash had been using Flashbots to improve the use of metatransactions for user withdrawal UX.
Flashbots specializes in tackling MEV (maximum extractable value), an arbitrage trading strategy, where validators and miners manipulate the order of on-chain transactions to profit by taking advantage of price differences. On top of that, Flashbots hosts private channels that prevent Ethereum user transactions from being seen in a public mempool, thus protecting them against attacks aimed at mining MEV.
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