Let’s say you’re a searcher or solver looking to execute a complex mev strategy on Ethereum involving multiple DeFi protocols.

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Problem

Currently, when you send a transaction bundle:

  • You define your maximum slippage tolerance for each trade (eg. 1%)
  • You broadcast your bundle to one or more block builders.
  • You wait about 12 seconds (1 block) or more for it to be included.

During this time, you have no guarantee that:

  • Your entire bundle will be included in the next block.
  • The transactions won’t revert due to changing conditions.
  • Other mev actors won’t push your transaction toward your slippage limit

As a result of these factors:

  • You might miss your target prices.
  • You might pay gas for failed transactions.
  • Your bundle may not get included, which is especially problematic for single-shot opportunities in DeFi. Some arbitrage opportunities only exist for a very brief window, and missing this window means losing the entire opportunity.

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Using an Execution Preconfirmation

Instead of blindly sending your transaction, you can use an execution preconf. Here’s how:

1

Setting up your mev-commit bidder node

  • Follow the Quickstart guide to set up your mev-commit bidder node and fund your account.
2

Prepare your transaction

  • Identify your mev opportunity. Craft your bundle and send the signed transaction to block builders as per usual.
3

Submit a preconf bid

  • Create and submit a bid for the transaction from your mev-commit bidder node (following the bid structure here), supplying the hash of the transaction you just sent.
  • When you submit a bid, it goes to multiple providers by default.
  • If a provider accepts your bid, it will generate a cryptographic commitment to execute your transaction. These are typically sent in milliseconds.
  • Your bidder node automatically verifies each commitment it receives.
  • Aim to receive commitments from all registered providers. If you don’t, consider increasing your bid amount to make it more attractive to all providers.
4

Execution

  • Your transaction is now guaranteed to be executed as per the preconf terms for that provider (or else that provider will be slashed).
  • The transaction will execute in the specified block.

Benefits

  • Real-time confirmation of future execution, translating to reduced risk for transacting
  • Ability to secure a specific execution slot at a better price
  • Even in the event of being frontrun, your transaction parameters will remain within your defined slippage, or else not execute
  • Instant transaction UX for searchers
  • Predictable gas costs

By using a preconf, you’ve eliminated the uncertainty of the 12-second wait, secured your execution parameters, and protected yourself against potential mev exploitation, all in real-time.

Unlike simple inclusion preconfirmations (which might still result in reverted transactions), execution preconfs ensure your bundle executes as intended. This leaderless, multi-provider approach offers superior guarantees that improve your chances to capture time-sensitive mev opportunities.

How to Price A BidHow Do Preconfs Work?