Head of strategic research and one of the co-founders of Flashbots Alex Obadaya left the company, citing differences in the vision for the future of the project.
1/ after almost 3 years building flashbots, i’ve decided it’s time for me to leave. thanks to my co-founders and the entire flashbots crew for 3 memorable years.
for anyone interested, here’s the message i sent to the team earlier today. pic.twitter.com/MiH7OIRYbF
— Alex (@ObadiaAlex) June 20, 2023
In his farewell letter, he thanked the company and employees for “three memorable years.” Obadaya also warned the project of “major problems” to come.
The system that Flashbots were designed to protect is still “vulnerable to centralization,” he said.
The company creates solutions to democratize access to “Maximum Value Extracted” (MEV) opportunities and protect against misuse of this Ethereum network option.
“The system we are committed to protecting is still vulnerable to centralization due to things like cross-domain MEV and exclusive order flow. In addition, we have become the acting leader and now we also need to protect the network from ourselves, so as not to become the same Moloch against whom we are fighting, ”said the ex-leader.
Flashbots representatives in conversation with CoinDesk thanked Obada for their cooperation. They also noted that the company is undergoing a more global reshuffle ahead of a new funding round.
Over the past six months, the firm has hired 13 new team members. Among them, Andrew Miller is one of the researchers, hacked Intel Software Guard security extension code.
Recall that in April, Flashbots introduced a beta version of the MEV-Share protocol, which distributes the “maximum extractable value” among Ethereum users.
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