Who's Selling Your Swaps? Benjamin Boulin on Order Flow, MEV, and Getting Paid Back
Benjamin Boulin was running Minecraft servers at 11 and paying developers in Bitcoin by 2015. Today he's the founder of Circular, built after his arb team hit 30 million transactions a day and no tool on Solana could keep up.
We get into how a simple swap leaks value to whoever controls the order flow, why platforms selling your swaps are earning double on you, and how Circular's monetization layer sends 65% of recovered arb profit straight back to the trader's wallet. Ben breaks down where a landing tip actually goes (Jito, Harmonic, SWQoS, direct to the leader), why every launchpad ends up building its own AMM, and why "we don't do MEV" is not the user protection it sounds like.
Also: Counter-Strike skins lost to casinos, Valve's total control over your inventory, and what happens the day GTA 6 puts its cars on-chain.
Fast transaction landing: landfast.io Circular: circular.fi
0:00 Welcome — one of my best friends in the ecosystem 1:40 Entrepreneur at 11: Minecraft servers, PayPal bans, and a broken financial system 7:07 A dev demanded Bitcoin in 2015 — and Ben didn't get it until Ethereum 12:00 Nifting: Steam meets Twitter for NFT skins 15:08 Who owns your skins? Valve's power and the GTA 6 on-chain test 21:45 Stablecoin arb on four chains — and the no-approval swap that sold him on Solana 27:30 Selling your swaps: why Triton won't, and the extortion nobody talks about 29:45 30M transactions a day: building Circular to track themselves 33:24 How your swap leaks value: AMMs, order flow, and the arb you never see 36:45 The monetization layer: what you're losing and how much comes back 44:28 Why every launchpad builds its own AMM 46:23 Integrating Fast: 1-cent tips, where they go, and 65% cashback 52:16 Colosseum builders: casino cranks, traders, and where to get RPC 56:33 Hidden fees and ignored priority fees: why validators should be angry 1:00:31 Counter-Strike, Trackmania, Risk — and next up: Ellie on Breakpoint
Who's Selling Your Swaps? Benjamin Boulin on Order Flow, MEV, and Getting Paid Back
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