
Jito Labs, a developer for the Solana blockchain, announced the suspension of its mempool functionality offered through the Jito Block Engine, citing negative externalities that impacted users. This decision, made after deliberate conversations with the Jito Labs team and key stakeholders, including the Solana Foundation, comes in the wake of concerns over MEV (Miner Extractable Value) issues. Notably, sandwich attacks, which have been costly to traders, particularly BODEN traders who were getting "sandwiched to hell." The suspension is seen as a positive development for end users and bullish for Solana. Additionally, Solana's DEX Jito had seen a significant increase in tip revenue, reaching 9.32k SOL (valued at $1.2 million) on March 6, setting a new high. However, the platform faced a serious MEV Bot problem, including a vulnerability that allowed fake tips, affecting normal user transactions. Solana users were extracted at least 50K $SOL last week through MEV, amounting to $550M annualized, highlighting the severity of the issue.

Great post by @0xMert_ on the MEV issues going on on Solana (that admittedly I’m a bit behind on). Perhaps my gut take is: What can be done will be done and tbh if I were the Jito team I’d be pretty annoyed at the lack of action taken here by the community as they built. https://t.co/LOiFVObSCR
JITO LABS ABRUPTLY DISABLES MEMPOOL FUNCTIONALITY AMID SANDWICH ATTACKS Jito’s developer announced the sudden shutdown of its mempool functionality on Friday. This decision comes after the feature enabled a series of costly sandwich attacks on traders. Source: CoinDesk https://t.co/o7vTJvkJ96
some final thoughts on the MEV stuff on Solana: - sandwich attacks were extracting too much from users, this is obviously bad and it's good that it is not happening anymore (for now) — I don't think anyone would refute that - jito built this tech through a ton of effort and…