The Solana Foundation has come under scrutiny for its handling of Miner Extractable Value (MEV) issues within its network. Initially, Solana positioned itself as a superior alternative to Ethereum by claiming to eliminate sandwich attacks through advanced technology. However, recent developments reveal that the foundation provides financial support to many validators, costing over $65,000 annually, and has decided to withdraw support from those engaging in MEV extraction. This move has sparked criticism, with some arguing that Solana should have taken a firmer stance against sandwiching by making it a core part of the network and involving federal authorities if necessary. Despite these efforts, only 0.5% of all stake was affected, while the top 70% of stake remains unaffected by these changes. Critics have also labeled this move as overly centralized.
validator: hey Solana Foundation, could you help me bootstrap my validator? Solana Foundation: sure, but only if you don't rob retail via sandwich attacks CT: SO CENTRALIZEEEEEEED for reference, this only moved 0.5% of all stake! top 70+% of stake doesn't even get delegation
solana did this mev thing all wrong instead of simply not subsidizing validators that rob retail they should have declared sandwiching a core part of the network and then literally call the feds if someone unbundles a sandwich transaction ...wait hold up
Is Solana better than Ethereum?
The Solana Foundation provides financial support to many validators because running a Sol validator costs $65k+/year. Now, the next step in their plan to solve MEV was to pull financial support from validators who extract MEV 😆 Solana is not a serious settlement layer https://t.co/MvD57rLBmV
Remember when the entire Solana narrative was: "Ethereum bad, lots of MEV. Solana fixes this - no sandwiching because of the superior tech" https://t.co/6k8YcWIM1a