Before I rip this model – I will say it’s great analysis here by @shaundadevens and worthwhile read. 🫡 But the fact is: priority fees, tips, etc are all temporary band-aids covering up 100ms of millis of unacceptable latency that was resulting in too much advantage to a few optimized HFT’s. I get it, you had to do something as too many complaints by the little guys, right? Let’s just say I’ve been there… And the HFT’s are paying it now because there’s no better onchain solution – and that’s where the liquidity is – but that’s about to change. If this was a “better model” TradFi CEX’s would adopt it. It’s not. Any TradFi CEX that implemented PF’s would lose all their flow tomorrow (as there ARE better options). And what’s the better model? DFBA in an optimized @TheHUB colo with 7 microsecond cross connects and multi-cast. Stay tuned. @fogo @slx_fi @TheHUB