Arbitrum initiated a vote on changing the transaction ordering strategy to prioritize auction transactions

ChainCatcher news, Arbitrum initiates a vote to adopt a new transaction ordering strategy called Timeboost for Arbitrum One and Nova. This strategy provides traders with a fast track to gain transaction priority through an auction mechanism, capturing opportunities for arbitrage and backrunning trades.

Timeboost aims to reduce the negative impact of MEV searcher racing behavior while returning the benefits of the transaction ordering market to ArbitrumDAO. Traders can choose to collect bids in ETH or ARB.

The proposal also presents two main revenue handling methods: transferring ETH revenue to the DAO treasury or burning ARB revenue.

If the proposal passes, public testnet testing will be conducted. Currently, 57.7% of voters support transferring the collected ETH to the DAO treasury.