These days, I've been monitoring on-chain transaction details, and the more I look, the more I think MEV is basically about "who can cut in line first." You place a swap, the slippage looks okay, but then the next second you're sniped, and the transaction price changes; the biggest impact isn't actually whales, but retail traders like us who manually click buttons and are still debating whether to pay a bit more gas... Whether it's fair or not, the feeling is: you think you're trading with the pool, but you're actually competing against a bunch of others fighting for position.

Recently, incentives on testnets and expectations for point systems have heated up again, and everyone in the group is guessing whether the mainnet will issue tokens. I’ll also try running some tests, but my current mindset is more relaxed: the more people chase after "points," the easier it becomes to turn the ordering into an arms race, and in the end, the costs are still borne by ordinary traders.

There are many tutorials, but I actually prefer those that break down a single transaction for you, showing which step was sniped, why it was sniped, and providing a review—at least it can give an explanation for your losses... That's all for now.