Snipers Pocket $1.3M Using 'Flashblocks' on Jesse Pollak’s Creator-Coin on Base Blockchain
Two traders made over $1.3 million by using Base's 'flashblocks' feature to frontrun the launch of Jesse Pollak's creator coin, JESSE.Summary
Two blockchain traders profited by more than $1.3 million during the debut of Jesse Pollak's creator coin, JESSE, on the Base network by exploiting the 'flashblocks' feature. Snipers, who use algorithms to frontrun new token issuance, acquired a significant portion of the 500 million JESSE tokens released into the liquidity pool within the same on-chain block as the initial issuance.
The mechanism relies on Base's feature, introduced in July, which produces 200-millisecond micro-blocks within its standard two-second blocks. This allows bots to detect the token deployment in the first micro-block and submit high-fee buy orders that settle in the next micro-block, effectively achieving "same-block" sniping without needing private mempool data. The top two snipers netted profits of $707,700 and $619,600, with one trader spending $191,000 on tokens and over $44,000 in priority fees.
Jesse Pollak has promoted creator coins as a tool for aligning creators and their audiences by giving ownership and control back to them. The JESSE token currently has a fully diluted valuation (FDV) of $13.8 million.
(Source：CoinDesk)