Infrastructure project Flashbots is in talks with investors to raise $30-$50 million and reach a $1 billion valuation.
According to The Block, the company has not applied to venture investors. On the contrary, the project is waiting for proposals from them.
Paradigm, which was the lead seed investor in Flashbots in 2020, has agreed to lead the funding round.
The startup is developing solutions to democratize access to maximum value extraction opportunities and protect against misuse of this Ethereum network option. About 75% of Ethereum blocks are reportedly relayed using MEV-Boost.
The director of strategy for Flashbots said in October last year that the lack of a neutral relay in the network is a “failure” of the Ethereum ecosystem.