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I'm always really surprised by how companies lose money on @solana.
As CEO of @Circular_fi, I'm led to speak with many companies across the ecosystem.
Most of them create value with their transactions. They are either unaware of it or they are afraid of the monetization ered by the market (they are right to be).
After all these years analyzing arbitrage and speaking with them, two profiles stand out:
- The first is the company that are unaware that there are ways to monetize a transaction.
They create DeFi transactions but they do not have visibility into the impact a transaction can have.
It's never just a simple transaction when you send it on a decentralized network. Your transaction has a real impact on the entire ecosystem and therefore can generate value through arbitrage.
Here, my role is simple: educate them and help them understand why they can better monetize their transactions.
- The second profile is the more complex one: companies that are fully aware of arbitrage, but do not want to arbitrage their users transactions.
That is a noble position and I respect it.
But what they do not realize is that with this position, they are not helping their users. They are penalizing them and literally making them lose money.
The value created by their transactions will be captured by an external arbitrager anyway, that is a fact.
Not wanting to arbitrage their own transactions means voluntarily letting their users money leak into the ecosystem, for free.
If we push this thinking further: wouldn't it be more reasonable to capture this value and redistribute it to their own users as cashback?
This money generated through arbitrage is not created out of thin air. It is a direct loss for the user caused by AMM inefficiencies.
With our years of experience, our public image and our data, we decided a few months ago to create a Monetization Layer.
Simple, healthy and transparent for companies.
(0.0ms) We receive transactions.
(0.1ms) Analyze them in real time.
(0.5ms) If a transaction will destabilize the price of a token; we will send an arbitrage transaction who lands after the analyzed transaction.
(1ms) We redistribute the majority of the profit directly to the company wallet during the execution of the arbitrage transaction.
Then, it's up to the company to decide whether it wants to redistribute a part of this profit.
Clear traceability is what makes Circular the first fully transparent Monetization Layer for companies.
That is why they choose us.
Accelerate.
As CEO of @Circular_fi, I'm led to speak with many companies across the ecosystem.
Most of them create value with their transactions. They are either unaware of it or they are afraid of the monetization ered by the market (they are right to be).
After all these years analyzing arbitrage and speaking with them, two profiles stand out:
- The first is the company that are unaware that there are ways to monetize a transaction.
They create DeFi transactions but they do not have visibility into the impact a transaction can have.
It's never just a simple transaction when you send it on a decentralized network. Your transaction has a real impact on the entire ecosystem and therefore can generate value through arbitrage.
Here, my role is simple: educate them and help them understand why they can better monetize their transactions.
- The second profile is the more complex one: companies that are fully aware of arbitrage, but do not want to arbitrage their users transactions.
That is a noble position and I respect it.
But what they do not realize is that with this position, they are not helping their users. They are penalizing them and literally making them lose money.
The value created by their transactions will be captured by an external arbitrager anyway, that is a fact.
Not wanting to arbitrage their own transactions means voluntarily letting their users money leak into the ecosystem, for free.
If we push this thinking further: wouldn't it be more reasonable to capture this value and redistribute it to their own users as cashback?
This money generated through arbitrage is not created out of thin air. It is a direct loss for the user caused by AMM inefficiencies.
With our years of experience, our public image and our data, we decided a few months ago to create a Monetization Layer.
Simple, healthy and transparent for companies.
(0.0ms) We receive transactions.
(0.1ms) Analyze them in real time.
(0.5ms) If a transaction will destabilize the price of a token; we will send an arbitrage transaction who lands after the analyzed transaction.
(1ms) We redistribute the majority of the profit directly to the company wallet during the execution of the arbitrage transaction.
Then, it's up to the company to decide whether it wants to redistribute a part of this profit.
Clear traceability is what makes Circular the first fully transparent Monetization Layer for companies.
That is why they choose us.
Accelerate.
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⌛️⌛️⌛️
One of the most complex things on @solana is replaying the chain or a transaction.
Its state.
Its impact.
Its utility.
Down to the byte and with accuracy.
Coming soon.
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Am I the only one who feels like dying when a dApp/wallet automatically redirects me to Orbmarkets instead of Solscan on @solana? 😬
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A sad and terrible hack has just taken place on @solana, resulting in losses of nearly $1 million.
"King" (or 7dGrd) was the best-known MEV/arbitrage program, active on the chain for several years and inspired many of the arbitrage programs currently on the chain to develop and hey generated several million dollars in profit, notably serving as the market leader between 2024 and 2025; an arbitrage "dinosaur" that had established itself as a leader, managing to find arbitrage opportunities before anyone else with a team of engineers behind it who were highly knowledgeable about the entire ecosystem and finance in general.
I will always remember February 14, 2025; the one and only day and moment in Circular's existence when I witnessed a single transaction that generated nearly $1 million in profit for an arbitrageur… just one transaction.
8h ago, their main wallet was completely drained (~$1m) and the funds were bridged to ETH using Mayan.
This race toward AI helps all of us, whether as entrepreneurs, companies or even individuals to accelerate and move ever faster, but the security issues that come with it are sometimes far more serious.
Main wallet: circular.fi/address/7dGrdJ…
Program: King7ki4SKMBPb3iupnQwTyjsq294jaXsgLmJo8cb7T
Biggest tx: 37rxtpQCEeWt1VLDtXmMSjM37FVmuHXeXZpr8mKdZco8rx9vgbAFKT6YuekK8JfaZmb5cJM4Ehe99fz2GgitHGFo
Bridge tx: 51bDaPjhubvhyzE5DJcHU4wEshuEXYgUrVtLbwpAYPgoeQyzt5NoSe1AqeFMiMgi8EGCJ6f5JtmDXr5EAAdHRDV2
"King" (or 7dGrd) was the best-known MEV/arbitrage program, active on the chain for several years and inspired many of the arbitrage programs currently on the chain to develop and hey generated several million dollars in profit, notably serving as the market leader between 2024 and 2025; an arbitrage "dinosaur" that had established itself as a leader, managing to find arbitrage opportunities before anyone else with a team of engineers behind it who were highly knowledgeable about the entire ecosystem and finance in general.
I will always remember February 14, 2025; the one and only day and moment in Circular's existence when I witnessed a single transaction that generated nearly $1 million in profit for an arbitrageur… just one transaction.
8h ago, their main wallet was completely drained (~$1m) and the funds were bridged to ETH using Mayan.
This race toward AI helps all of us, whether as entrepreneurs, companies or even individuals to accelerate and move ever faster, but the security issues that come with it are sometimes far more serious.
Main wallet: circular.fi/address/7dGrdJ…
Program: King7ki4SKMBPb3iupnQwTyjsq294jaXsgLmJo8cb7T
Biggest tx: 37rxtpQCEeWt1VLDtXmMSjM37FVmuHXeXZpr8mKdZco8rx9vgbAFKT6YuekK8JfaZmb5cJM4Ehe99fz2GgitHGFo
Bridge tx: 51bDaPjhubvhyzE5DJcHU4wEshuEXYgUrVtLbwpAYPgoeQyzt5NoSe1AqeFMiMgi8EGCJ6f5JtmDXr5EAAdHRDV2
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Many people think that arbitrage stems from poor routing on @solana… that’s because they don’t understand the technology itself.
There are two key points to remember:
- Shreds: Solana doesn’t distribute blocks one by one, but rather in chunks of blocks. Routers are often out of sync with the actual information that has already been validated.
Fix: Calculate the optimal route during execution, but this leads to the issue of accounts:
- Accounts: The account limit is 64. This means that only a small number of pools can be scanned or used during a transaction.
Fix: protocol.
These two issues mean that arbitrage is extremely prevalent on the chain.
While some believe this will improve in the future, we’re taking action now.
Integrating our Monetization Layer into your trading platform gives your traders the ability to protect themselves against MEV and recover the money they lose.
Healthy MEV to Traders.
There are two key points to remember:
- Shreds: Solana doesn’t distribute blocks one by one, but rather in chunks of blocks. Routers are often out of sync with the actual information that has already been validated.
Fix: Calculate the optimal route during execution, but this leads to the issue of accounts:
- Accounts: The account limit is 64. This means that only a small number of pools can be scanned or used during a transaction.
Fix: protocol.
These two issues mean that arbitrage is extremely prevalent on the chain.
While some believe this will improve in the future, we’re taking action now.
Integrating our Monetization Layer into your trading platform gives your traders the ability to protect themselves against MEV and recover the money they lose.
Healthy MEV to Traders.
Arb is just bad routing, change my mind.
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Agree, long-term vision: arb should go back to traders on @solana.
short term thinking. arbs should go back to users.
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By combining it with Circular Reverse (our program reverse-engineering system), anything is possible in the blink of an eye.
Should we make it available? 🤔
Should we make it available? 🤔
Internal thought: you combine Opus + Circular MCP Data + Circular MCP Replay… the world of @solana is yours to explore.
Crazy epoch 🤯
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Internal thought: you combine Opus + Circular MCP Data + Circular MCP Replay… the world of @solana is yours to explore.
Crazy epoch 🤯
Crazy epoch 🤯
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One of the most complex things on @solana is replaying the chain or a transaction.
Its state.
Its impact.
Its utility.
Down to the byte and with accuracy.
Coming soon.
Its state.
Its impact.
Its utility.
Down to the byte and with accuracy.
Coming soon.
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Alpenglow has arrived on @solana and it's going to change everything for analytics platforms.
As the CEO of a platform that analyzes all of Solana's activity, block by block, we were limited to the "Finalized" status.
This status is reached when a consensus of validators agrees to accept the block.
On average, before Alpenglow, we received blocks after 12.8 seconds.
After the Alpenglow update, the wait is no longer measured in seconds but in milliseconds: 150 ms.
This means that all analytics platforms will be able to operate nearly in real time with the blockchain, a win for data.
A big shout-out to @anza_xyz, who've been working for months, even years, on this update, you guys are the best! 🔥
As the CEO of a platform that analyzes all of Solana's activity, block by block, we were limited to the "Finalized" status.
This status is reached when a consensus of validators agrees to accept the block.
On average, before Alpenglow, we received blocks after 12.8 seconds.
After the Alpenglow update, the wait is no longer measured in seconds but in milliseconds: 150 ms.
This means that all analytics platforms will be able to operate nearly in real time with the blockchain, a win for data.
A big shout-out to @anza_xyz, who've been working for months, even years, on this update, you guys are the best! 🔥
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Axiom's $55.7M "Validator Bribe" Rip-Off on @solana.
@AxiomExchange is deliberately extracting millions from its traders through misleading transaction fees.
I stumbled upon this piece of data while exploring our database, here's our analysis 👇 x.com/i/article/2112…
@AxiomExchange is deliberately extracting millions from its traders through misleading transaction fees.
I stumbled upon this piece of data while exploring our database, here's our analysis 👇 x.com/i/article/2112…
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Sometimes troubling things happen on @solana that nobody talks about...
With so much data on Circular, sometimes I'm looking for one piece of information and I stumble upon another... darker one.
The on-chain data speaks for itself; I think I should talk about certain things 🤔
With so much data on Circular, sometimes I'm looking for one piece of information and I stumble upon another... darker one.
The on-chain data speaks for itself; I think I should talk about certain things 🤔
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This month, Fast, our landing service on @solana, processed over $6 million in volume.
That's sick.
You can now view your own stats on the dashboard, now live! 🔥
That's sick.
You can now view your own stats on the dashboard, now live! 🔥
The dashboard for our Fast landing service on @solana is now live!
This is a game-changer for landing services; transparency is Circular's hallmark, so we've just rolled it out on Fast.
Traders use landing services not only to execute their trades in 0-slots but also to recover to price impact; 65% of the recovered value is sent directly back to your wallet.
No more wondering whether your tips are making a real impact and being put to good use, the data is right here!
See a breakdown of how Fast has used your tips, an analysis of the transactions you've landed, and which validators processed them.
FAST.
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The dashboard for our Fast landing service on @solana is now live!
This is a game-changer for landing services; transparency is Circular's hallmark, so we've just rolled it out on Fast.
Traders use landing services not only to execute their trades in 0-slots but also to recover to price impact; 65% of the recovered value is sent directly back to your wallet.
No more wondering whether your tips are making a real impact and being put to good use, the data is right here!
See a breakdown of how Fast has used your tips, an analysis of the transactions you've landed, and which validators processed them.
FAST.
This is a game-changer for landing services; transparency is Circular's hallmark, so we've just rolled it out on Fast.
Traders use landing services not only to execute their trades in 0-slots but also to recover to price impact; 65% of the recovered value is sent directly back to your wallet.
No more wondering whether your tips are making a real impact and being put to good use, the data is right here!
See a breakdown of how Fast has used your tips, an analysis of the transactions you've landed, and which validators processed them.
FAST.
The Fast dashboard is live.
We just shipped the Fast dashboard, so you can now see what’s actually happening behind your transaction on Solana.
Track your requests, landed transactions, volume, tips, and the average number of blocks between sending and landing.
You can also by region, see which validators are landing your transactions, and inspect the flow transaction by transaction.
And for eligible flow, cashback has its own dedicated view too.
Now you can see what’s happening behind it.
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I think there are two major issues with the MEV on @solana today.
- The biggest one, in my opinion: a lack of transparency and the inability to understand who benefits from a transaction (though I can say with certainty: it’s rarely the traders)
- The fragmentation of schedulers, which makes it very difficult to predict when a transaction will land.
There’s still so much to do.
Glad more people have been talking about it lately!
- The biggest one, in my opinion: a lack of transparency and the inability to understand who benefits from a transaction (though I can say with certainty: it’s rarely the traders)
- The fragmentation of schedulers, which makes it very difficult to predict when a transaction will land.
There’s still so much to do.
Glad more people have been talking about it lately!
With all the "discussion" about MEV on solana. Unsolicited comment from me.
All of this shitshow is caused by scheduler fragmentation. You send a txn to a validator. You dont know how the validator will rank it ? Is it by PF, is it TIP? Is there a bundle endpoint?
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