As many are aware, with EIP-1559 coming, miners' profits will shrink.
While we continue to work with other miners to push for a peaceful settlement with the development team that will mitigate this loss, we have also pursued other income avenues. After being brought to our attention, we have worked with MEV research organization Flashbots to capture additional revenue for our miners.
This has culminated in a rollout of FlexGeth, Flexpool’s fork of the Geth Ethereum node modeled on the open-source software MEV-geth.
MEV-geth is Flashbots’ reference implementation of a seal-bid MEV auction system, that adds an ability to include a transaction bundle at the beginning of each block. As an improvement upon MEV-geth, FlexGeth allows for multiple MEV bundles per block to be loaded at a faster speed. FlexGeth is being rolled out to all regions except for US-East and Europe so that we may finish a final test of its capabilities before a full rollout. Note that MEV rewards will be distributed to all Flexpool miners on all regions. With this rollout, we have initiated a distribution system to distribute the MEV rewards to our miners. We estimate that this will result in a 4-6% income boost to our miners, which we hope to increase to 20-30% by May once we finish our full MEV rollout.
Please note that we have yet to add MEV reward tracking to the website, so the MEV bonus will only appear in your balance. We have exciting plans over the next few months and hope miners old and new will join us for it. Please check out our website at flexpool.io for help getting started and links to our discord/telegram and make sure to check out the Flashbots
https://discord.gg/JR6DYacR to learn more about MEV and see the additional rewards being paid out.
For more information about MEV check out BBT’s video with Micah
https://youtu.be/tiXALhTgAfc
