In this episode of Credible Commitments I chat with Michael from Quasar Builder (#2 block builder on Ethereum). Michael started out mining Bitcoin before turning to block building, launching Quasar in 2025 with no privileged orderflow and climbing the leaderboard from the public mempool. The episodes progresses as we discuss PropAMMs and the market structure behind orderflow dynamics. Orderflow is downstream of trust. In particular we break down different types of orderflow and discuss what sharing orderflow between competing parties actually looks like and where multi-party block construction is heading. We close by discussing: ACE, faster blocks, and coordination as the next frontier including where ePBS fits into the auction's future, and a final question worth sitting with: is the public mempool beyond saving?
In this episode of Credible Commitments I chat with Michael from Quasar Builder (#2 block builder on Ethereum). Michael started out mining Bitcoin before turning to block building, launching Quasar in 2025 with no privileged orderflow and climbing the leaderboard from the public mempool. The episodes progresses as we discuss PropAMMs and the market structure behind orderflow dynamics. Orderflow is downstream of trust. In particular we break down different types of orderflow and discuss what sharing orderflow between competing parties actually looks like and where multi-party block construction is heading. We close by discussing: ACE, faster blocks, and coordination as the next frontier including where ePBS fits into the auction's future, and a final question worth sitting with: is the public mempool beyond saving?
Timestamps
(00:00) - Bitcoin mining origins
(02:15) - Launching Quasar at the right time
(03:14) - Building credibility from the public mempool
(05:04) - Climbing the leaderboard
(07:31) - Trust is king
(09:22) - Different types of orderflow
(12:51) - CEX-DEX arbitrage
(14:59) - PropAMMs
(22:13) - Sharing orderflow
(25:15) - Multi-party block construction
(29:15) - Focus on bringing value to users
(30:51) - ACE/ Faster Blocks/ Coordination
(36:31) - Ship it mentality
(41:31) - Impact of AI on building products
(46:27) - Touching on ePBS
(53:52) - Is the public mempool beyond saving?