- The software owner’s revenue exceeded $40 million
- But he also paid $34 million for gas
- Till now, it is the highest-performing MEV bot
- His transactions occur in 60% of all blocks in the Ethereum network
In April, fees in the Ethereum ecosystem began to skyrocket. Much of the reason for this is the activity of “sandwich bots” that are attracted to speculative markets such as PEPE.
That’s when we first mentioned the “jaredfromsubway”. The owner of this bot spent $1.33 million on sandwich attacks on low-liquidity positions.
Given these costs, it is natural to assume that the user’s income exceeds this value. But you would be surprised how much.
In mid-April, 60% of all Ethereum blocks contained transactions involving this MEV bot. According to analyst portal EigenPhi, from April 17 to 23 alone, the software owner made more than $2 million in profits.
By that time, from late February to mid-April, the net profit of jaredfromsubway was only $460,000.. The jump in bot profitability was caused by hysteria in the alt-coin segment.
This can be seen in the chart:
The bot initiated a total of 238,000 attacks. User revenue was $40.65 million. Gas costs – $34.35 million, net profit – $6.3 million. This is the data as of May 8.
And this is what the ratio of the total gas charges to the commission that jaredfromsubway has repaid looks like:
As you can see, the peak is in early May. It’s the most successful MEV bot in the ecosystem so far.
Why is it called that?
Who exactly is behind the “jaredfromsubway” project is unknown. The bot is named “after” former Subway fast food chain employee Jared Scott Fogle.
He received a 15-year prison sentence in 2015 for distributing child pornography.
Fogle gained popularity after losing 111 pounds in less than two years. In doing so, he regularly visited Subway, which played to the company’s brand.