The media learned about Flashbots plans to raise $50 million at a $1 billion valuation


The infrastructure project Flashbots is in talks with investors to raise from $30 million to $50 million at a $1 billion valuation. The Block citing own sources.

According to the publication, the startup did not apply to venture investors, as is usually the case. On the contrary, the project is waiting for proposals from them.

Paradigm agreed to lead the round. According to Crunchbasethe firm was the lead seed investor in Flashbots in 2020.

The startup is developing solutions to democratize access to maximum value extraction (MEV) opportunities and protect against misuse of this Ethereum network option.

The project infrastructure includes:

  • Flashbots Auction — marketplace for transaction auction;
  • MEV-Boost – out-of-protocol implementation of proposal separation technology and block creation according to the Proposer-Builder Separation (PBS) standard;
  • Flashbots Protect – the ultimate RPC-point for protection against frontrunning and unsuccessful transactions;
  • Flashbots Data – tools and dashboards to increase the transparency of MEV activity.

According to mevboost.orgabout 75% of Ethereum blocks are relayed using MEV-Boost.

In October 2022, the director of strategy for Flashbots Hasu called the lack of a neutral relay in the network a “failure” of the ecosystem of the second largest cryptocurrency by capitalization.

Recall that in November 2022, the Ethereum co-founder presented an updated project roadmap, in which The Scourge stage appeared, designed to solve the MEV problem.

Read CryptoNewsHerald bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.

Found a mistake in the text? Select it and press CTRL+ENTER

Comments (No)

Leave a Reply