Rebar, a Bitcoin analytics software startup, announced on Thursday that it raised $2.9M in seed funding to build what is being described as the first dedicated Bitcoin-based MEV product. The round was led by 6th Man Ventures, with participation from ParaFi Capital, Arca, Moonrock Capital, and UTXO Management.“Rebar recognizes that MEV strategies are emerging on Bitcoin, similar to those seen in DeFi on Ethereum,” according to a press release.
“The more complex transactions become, the more opportunities miners have to create MEV by exploiting the inefficiencies caused by added complexity,” Bitcoin company River Financial wrote in an explainer. Examples of MEV include frontrunning, sandwiching, and arbitraging transactions, including where a miner replaces a user’s buy order with their own to lock in a better price.
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