Arbitrum Proposes New Transaction Ordering Strategy Timeboost

According to Odaily, Arbitrum has initiated a vote on implementing a new transaction ordering strategy called Timeboost for Arbitrum One and Nova. This strategy aims to provide traders with a fast track to gain transaction priority through an auction system, thereby capturing arbitrage and frontrunning opportunities. Timeboost is designed to mitigate the negative impacts of MEV (Miner Extractable Value) searcher competition while returning the benefits of the transaction ordering market to ArbitrumDAO. Traders can choose to bid using either ETH or ARB tokens. The proposal outlines two primary methods for handling the generated revenue: transferring ETH income to the DAO treasury or burning the ARB income. If the proposal is approved, a public testnet will be conducted. Currently, 57.7% of voters support transferring the collected ETH to the DAO treasury.