Is MEV a zero-sum game?

[Yuichiro Aoki]

Two types of situations where MEV searchers make money:

• Someone swaps a large amount of tokens, and the MEV searcher frontruns/backruns the swap. The MEV searcher makes money at the expense of the trader.

  • a zero-sum game (negative-sum game if you consider the gas fee/server cost)
  • someone created a opportunity 🔽
  • a MEV searcher took it 🔼
  • Profitable even under a bear market(normal market condition)

• There is a huge volatility in the market, and everyone makes money.

  • maybe a positive-sum game, but this doesn't last long and is not sustainable.
  • You have no control over the market, and it can be stressful to rely on the market volatility to make money.

What do you guys think?