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Priority Gas Auction Cadence and Searcher Competition: Evidence from Flashblocks on Base
and-sciencecomputational-engineeringcomputer-science-and-game-theoryfinancetrading-and-market-microstructure
Flashblocks divide a block's priority gas auction into shorter sequential auctions that commit transaction order before the block is complete. We ask how this auction cadence affects bidding and competition among automated arbitrageurs, or searchers. In July 2025 Base replaced a single 2 s auction w
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