The MEV Supply Chain
Interactive diagram of Ethereum's PBS pipeline — Searcher, Builder, Relay, Proposer, Block — with builder concentration numbers, private orderflow paths, and the mev-commit preconf feedback arc.
⬢ loading artifact…
Appears in
The Builder Oligopoly: Private Orderflow, Builder Bonds, and What AI Agents Pay to Skip the Line
Five builders now win 96.7% of Ethereum blocks. Their edge isn't compute — it's exclusive orderflow: 12% of transactions that generate 54.59% of block value. AI agents transacting in public have to understand where they sit in that hierarchy — and when a preconfirmation changes the math.
9 min read ⬢ interactive