What if there were a way to gain priority on a First-Come, First-Served chain, not through latency reduction, but by paying for it? That's what Timeboost brought to the @arbitrum network 3 months ago. A novel approach to transaction ordering, where the DAO earns the upside 🧵👇

1/ What is Timeboost? It is a sealed-bid, second-price auction that lets participants bid for faster inclusion in blocks. The highest bidder wins, pays only the second-highest bid, and gets to submit priority transactions in the next round, and all the revenue goes to the Arbitrum DAO. Each auction gives the winner control of the express lane for 60 seconds. Bidding stays open for 45 seconds and closes 15 seconds before the round begins. It's still a first-come, first-served system, just with a paid express lane added on top. All of this can be adjusted by the chain owner.