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MEV
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The company completed a restructuring in the wake of its decision to exit services related to its MEV-Boost Relay, a type of software used by Ethereum network validators.
The decision followed internal discussions among the company’s leadership and board of directors, and the company plans to focus on “economically viable opportunities.”
On July 30, over 6,000 ETH ($11M worth) in so-called Maximal Extractable Value rewards were paid out to Ethereum validators, the most ever for a single day.
The new capital will help develop the SUAVE decentralized platform for maximal extractable value (MEV).