## sandwiching

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### tl, dr

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* **sandwich attacks** occurs when a searcher identifies a profitable trade in the mempool that will cause an impact on the price of an asset.

* a searcher buys or sells a calculated amount directly before the large trade is executed and then immediately exits their position after the large order has taken place, banking a profit.

* the main theme of sandwich attacks is the deterministic price slippage caused by available liquidity in the pool, which is deterministic . slipage is the change in the price of an asset during a trade.

* sandwiches (and most frontruns) are often labelled **toxic mev** because the tx that is frontrun either executes at worse conditions or fails to execute.

* a softer side of sandwich is on the lens of economic efficiency, on which an order can create a consumer surplus and the absence of a [nash equilibrium](https://en.wikipedia.org/wiki/Nash_equilibrium). the bot operator would love the economic system back.

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---

### in this dir

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* [interesting txs in the wild](interesting_examples.md)


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### links

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* [defi sandwich attacks, by cmichel](https://cmichel.io/de-fi-sandwich-attacks/)
* [anatomy of sandwichor bots](https://github.com/go-outside-labs/mev-toolkit/blob/main/MEV_searchers/bots/sandwichors.md)
* [sandwich attacks on uniswap v2](https://www.defi-sandwi.ch/)
* [sandwich overview, by eigenphi](https://eigenphi.io/mev/ethereum/sandwich)
* [modern mev sandwich attacks on ethereum routers, by totlsota.eth](https://mirror.xyz/totlsota.eth/9JaNkZ1XQfQD6Y79aLYHC_kb_dSBoJ2JYiag5BuGGM8)
* [demystify the dark forest: sandwich attack, by coinmonks](https://medium.com/coinmonks/demystify-the-dark-forest-on-ethereum-sandwich-attacks-5a3aec9fa33e)
* [analysing execution quality in osmosis, by meka.tech](https://meka.tech/writing/analysing-execution-quality-in-osmosis--e9dd8394-0d09-4d92-a0c7-27629d321af0)
* [how to automate sandwich recognization](https://mirror.xyz/0xc19565163aFdEe3783FC970E4Bd0275B11848d34/0NGVJ0rpUHp6AiO1hluZV6X-sG_uwe5lAaGk3Y91X7A)
* [sandwich trap, by kaiji](https://twitter.com/bertcmiller/status/1443532075936751621)
* [loss and slippage in amms](https://arxiv.org/pdf/2110.09872.pdf)
* [jaredfromsubway.eth contract](https://etherscan.io/address/0x6b75d8af000000e20b7a7ddf000ba900b4009a80) and [flow data](https://www.watchers.pro/moneyFlow/0x6b75d8af000000e20b7a7ddf000ba900b4009a80?id=1648682912491528192&network=eth)