Flashbots Raises $60 Million and Hits Unicorn Status

Flashbots is a marketplace for transactions that work on mitigating the negative externalities of Maximal Extractable Value (MEV) techniques on blockchains. MEV refers to arbitraging on-chain trading opportunities by reordering transactions within a block while it is being produced. The organization primarily focuses on enabling a permissionless, transparent, and fair ecosystem for MEV extraction and redistribution.

Ethereum infrastructure service Flashbots has raised approximately $60 million at a valuation of $1 billion. San Francisco-based firm Paradigm led the funding round to support the development of Flashbots’ new Ethereum blockchain transaction packaging software version.

Flashbots, Grand Cayman, Cayman Islands, was founded by Stephane Gosselin and Phil Daian in 2020. In the long run, the company intends to build a sustainable research organization, in which ambitious researchers can focus on the most interesting research problems, unencumbered by the friction of academia and the shackles of the industries.

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