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I tried once, choosing a time with no big news to swap tokens on the chain, deliberately setting a smaller slippage, and watching the mempool to see when my transaction would be included in a block. The result was quite awkward: even though I sent it first, the final transaction price ended up being "pushed" a bit... Basically, the order priority is there; whoever is willing to pay more / pack transactions more efficiently is more likely to get ahead. The biggest impact isn't really "whale battles," but these small orders and regular users, who have little bargaining power to begin with—pay a little more or get a little less, and over time, it really adds up.
Recently, everyone has been excited about modularization and the DA layer, developers are thrilled, but I see many people around me looking confused: how do these layers stack, and who am I actually paying? Anyway, when I look at a chain or a DEX now, besides TPS and transaction fees, I also casually ask: who determines the order, and who bears the cost of cutting in line... for now, that's it.