Joey Zacherl, CTO of Rook, discusses MEV's past, present, and future, and the power of owning your own order flow in DeFi.
"Your order flow has value…you’re just not getting it. And this is a problem. […] This is money getting taken from users’ wallets during their transactions." - Joey Zacherl [5:40m]
"We would like to protect against bad MEV, but then enable and harness the power of good MEV and give it back to the source." - Joey Zacherl [10:10m]
"The status quo that is MEV today does not sit well with our philosophy here at Rook. We want to harness the power of the application layer MEV extraction and give that back to the user, and we can even use cool pieces of technology like Flashbots. They work together very well." - Joey Zacherl [25:00m]
"Why would a user want to trade with Rook? Well, Rook is your backstop for MEV. If money is going to fall through the cracks, we’re going to scoop it up and give it right back to you. So we’re protecting you. Same with a market maker or an automated trader." - Joey Zacherl [28:40m]
"We really just need to embrace it [MEV] and harness it and use it in such a way that it provides value to the people who are generating it rather than using it as a fee to tax them." - Joey Zacherl [32:25m]