FastLane Labs, the developer of the Polygon ecosystem MEV protocol FastLane, has closed a $2.3 million seed round led by Multicoin Capital with participation from Polygon Ventures, Shima Capital, Delphi Ventures, Everstake Ventures, and others.
MEV is a way for miners or validators to profit from how a pending blockchain transaction is ordered or arranged before the transaction becomes a block. The method of earning MEV varies a bit depending on the chain, but it’s common for traders to focus on a high volume of attempts or spamming to maximize the profit potential.
Founded in March 2022, FastLane Labs provides an auction system that allows validators a chance to earn rewards without the need to spam the blockchain. The auctions happen off-chain and externally to minimize redundant transactions on the network. In addition, FastLane stands apart from other Polygon MEV protocols by allowing validators to use their current Polygon clients to participate rather than downloading a new client.