Request: Learning more about MEV

Hello,

I would say I’m fairly new to the NFT space and have been learning by doing and participating in any minting projects I can find my hands on.

Context:
Most recently there was a project called fees.wtf which isn’t a minting PFP project but one that provides claimable tokens and NFTs that dropped today. Their project provides a dashboard that helps users see how much they’ve spent on the Ethereum network as seen in the first image.

The drop provided a claimable token called $WTF. One would need to pay 0.1 ETH to approve the transaction and the cost of gas fees based on the current network.

During the drop I was fortunate enough to have claimed my $WTF with a reasonable cost but when trying to swap via uniswap pair ETH/WTF I wasn’t able to. I went and looked at their DEX chart and saw the transaction below.

This was the first I’ve seen of the MEV (Miner Extractable Value Bot and took the question to the #crypto channel in the discord hoping someone knew more about it. I was able to get a bit of an idea thanks to @kickiniteasy as he shared the below.

If anyone had more insights, you can use the following thread and add on as I’ll be doing so too!