I recently came across discussions about the negative impact of arbitragers/searchers using private orderflows on
@solana. The main argument: it's not fair.
Do you see the purple curve in the screenshot?
That's the percentage of transactions related to arbitrage in a block.
3 months ago: 30% on average.
Currently: 15% on average.
Now, if we look at the revenue attributed to private orderflows:
3 months ago: 15-20% on average.
Currently: 35-40% on average.
The majority of this percentage is associated with spam/crank transactions that are of little value to the chain and take up a huge amount of space/CU in the blocks.
Is this new arbitrage approach really bad for Solana or does it protect the chain from spam while making the market even more stable than ever for traders? ๐ค