Firedancer and Solana's Double-Auction Firedancer recently presented it's new REV scheduler which improves validator rewards REV is simple: -for 85% of the slot (350ms), *only* transactions from Jito bundles are included - independent user txs can only get in the lat 50ms 1/10

Jito bundles are already prioritized in the scheduler - REV goes a step further & gives bundles exclusivity for in the first 350ms of the slot. but REV has one major benefit: 💸💸 validator rewards go way up 💸💸 drawback is Solana effectively running on one sequencer 🫤 /2

I think there's a better way. Let's look at **why** REV makes validators more $ and alternative options please welcome.... 🥁🥁 the Double Auction! /3

REV works because it solves Solana's double-auction problem. Today, transactions compete in the client with 1) priority fees 2) Jito tips These two different types of fees run 2 auction mechanisms which compete to land Tx and lead to suboptimal rewards. /4

plainly put - it's very common for a Tx to pay both a prio-fee AND a tip this hurts its chances to win as a bundle in the "tip auction", but sometimes the normal Tx (without the tip!) lands first this obviously pays less to the validator! /5

Solving it is a GREAT move for Solana and REV does that! Firedancer outsources sequencing to an external entity, very similar to blockbuilding on EVM. but it would be SO MUCH better if the sequencing is NOT done by a single sequencer Base-style 🤩 /6

I'm anything but a decentralization maxi - DeFi needs to be useful to compete with CeFi! but decentralization IS valuable! if we could build a global transparent permissionless financial system by letting 1 entity run it- it would be NYSE if TEEs solved it, then NYSE-on-TEE /7

So validators should run single auction - not two - but maybe they can run it themselves? 🤔 instead of outsourcing sequencing, a leader - accept bundles from competing blockengines - prioritize whoever pays the most (prio-fee OR tip) /8

we've implemented multi-blockengine support for @paladin_solana (the FD version is still WIP) leaders accept bundles from multiple sources, and prioritize bundles and Tx based on fee per CU ✅ single auction ✅ avoids single sequencer /9

Our thesis is straightforward: - fee markets work best if they're simple & transparent - pay a higher fee per CU, land sooner 👍 - single auction 🎯goal: make more $ with single local auction burden of proof still on us & we're pushing. Onwards! /fin