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Recently, I've been looking into MEV again. Basically, it's when someone on the chain can "cut in line," inserting your transaction in the middle or pushing it to the back. The biggest impact isn't actually on those who hold their assets still for a long time, but on those with very small slippage who are eager to trade: swapping tokens on DEXs, liquidating margins, snatching minting opportunities... Even though on the surface everyone queues up on the same chain, secretly the queue can be reshuffled, which can easily cause a mental breakdown.
The word "fairness" is a bit of a luxury on the chain; it's more about whether the "rules are transparent." My current approach is quite timid: not rushing those few seconds, setting limit orders when possible, preferring to be a bit slower rather than becoming someone else's fee source.
So, is "attention equals mining" really a fallacy?
I think not entirely, but attention can also be cut in line—whoever gets prioritized first gets the gains.