What Is a “Searcher” in the MEV Ecosystem?
A "searcher" is an independent economic actor, typically a bot operator, who runs specialized algorithms to detect and exploit MEV opportunities on a blockchain. Searchers bundle these profitable transactions and submit them to validators/miners via a private relay, often through a "bundle" that specifies the transaction order and the tip (priority fee) to be paid.
They are the engine that finds and capitalizes on MEV.
Glossar
Transaction Order
Order ⎊ Transaction order refers to the precise sequence in which pending operations are included and executed within a block on a blockchain network.
Specialized Algorithms
Algorithm ⎊ Specialized algorithms in quantitative finance are sophisticated, coded instruction sets designed to execute complex trading strategies with high speed and precision, often exploiting fleeting market inefficiencies.
Mev Opportunity
Opportunity ⎊ A Mev Opportunity, or Maximal Extractable Value opportunity, is a quantifiable profit potential arising from the ability to influence the inclusion, exclusion, or ordering of transactions within a blockchain block.
Searcher
Intent ⎊ In the context of decentralized finance, this refers to the desired outcome of a user's transaction, such as executing a trade or interacting with a smart contract.