Hello readers, this is a follow up on my last article, today I will narrate how I earned cool $2 million with my MEV Bots.
To recap, Arbitration is trading stock or any other financial asset by a broker who has inside knowledge of a future transaction that is about to affect its price substantially. What is front-running in crypto? The term “front-running” refers to the process when someone uses technology or market advantage to get prior knowledge of upcoming transactions.
If you want to start earning with MEV Bots and skip my article, checkout this video by clicking HERE .
Now for the readers, lets dive in!
A user tried to trade 3CRV, a Curve LP token containing USDC-USDT-DAI on KyberSwap UI. This is atypical as one would withdraw LP tokens from a pool, not trade it. This made it possible to create a deviation seen in this swap, as 0x routed into an almost empty pool.
The user saw an an acceptable rate, after which he clicked Swap. KyberSwap UI displayed a pop-up message “Locking in this price…”. During this time frame, our meta-aggregator continued to check all the proposed routes of aggregators again.
Since the market was undergoing a volatile period, all routes failed at estimating gas. The rate strongly fluctuated & only 0x’s route was successful but with a very poor rate.
As KyberSwap is a meta aggregator, in this case the routing from 0x aggregator API was chosen because it was the only valid one.
0x’s rate was displayed to the user in a pop up. However, the user proceeded with the swap without noticing the low return trade. The user signed with the corresponding new data by clicking Confirm Swap, and the swap was executed via 0x.
My MEV Bots Sniffed the transaction and took advantage at TX https://etherscan.io/tx/0x8a6be1e4db4375c1a1c9d1e5c5fcaa5c255b2d24f5da3de05f3b25d7c3508021
Funds Relaxing in my wallet 😎
I Linked the 7 minute video to a tutorial on running EVM Bots on Ethereum blockchain which you can watch HERE. You too can take advantage of MEV Bots, but like everything, the big players always are always ahead.
Please like and subscribe to my channel as I have awesome stuff I planned coming soon. They include New Token Standard,New DEX resistant to Frontrun, A bridge between CEX and DEX, etc
Disclaimer: Not a financial advice but my life story. DYOR.