JaredfromSubway.Eth Trades iEthereum

Did you know that Jared from Subway trades iEthereum?

Lol, JaredfromSubway, I would bet is not actually Jared from Subway. I think it would be safe to assume this name is an alias being used as a wallet address.

Who is the whale behind the wallet JaredfromSubway.eth?

JaredfromSubway, at the time of this writing contains 119 Ethereum roughly $432,634 worth. This wallet seems to be notorious on the internet for low volume token trading. Transaction activity includes over 3,938,465 transactions in total and is rumored to have made millions over the years.

JaredfromSubway’s MEV bot has spent more than 37k Ethereum on gas fees that total more than $70 million in USD dollars as of August 2023. By the time this article comes out, this number will be much higher.

I would say that it is safe to say that the controller of JaredfromSubway.eth is a high roller. A whale of the sorts. If they weren’t at the time of creating the MEV bot, they are now.

I find this to be an interesting article as it pertains to iEthereum because there is wide spread speculation on who controls this wallet. The wallet that pays more in Ethereum gas fees than the big exchanges of Binance and Coinbase. And who is this character that chooses to play in the iEthereum’s marketplace of Uniswap.

Transaction hash: 0x3e891a53c924dd3895448deb11828ed724a3b942d0c7618490eedeef366afb3a is an iEthereum trade example of a sandwich attack JaredfromSubway performs in the defi world of trading. A sandwich attack is a bot that performs two transactions prior to the original swap from an unsuspecting user, essentially manipulating the price of the original tokens involved in the swap and then the bot creates a profit. Depending on who you are, you may or may not consider this to be fair/unfair. Regardless, of your opinion, at the time of this writing, this action is legal.

Side Note: I believe in the future; authorities could classify this as a form of insider trading or market manipulation. I don’t have an opinion at this time. However, the actions are similar in nature.  

In this particular trade, 15 swaps were made simultaneously, essentially. Not exactly, obviously some were front run, but they did all occur within the same block, 18588976. Swap #13, traded 0.021639 for 6,990 Hex in which lead to swap #14 trading those 6,990 Hex for 1,722 iEthereum which in return traded those 1,722 iEthereum for 0.0247492 Ethereum on swap #15 of the transactions.

Many suspect and have raised the question that JaredfromSubway.eth is Vitalik Buterin himeself. Many would say that Vitalik has better things to do. Many would laugh at this counter response. They would counter the counter and argue that they don’t believe Vitalik is actually sitting behind a desk and actually manually performing these swaps. This would be ridiculous. They would highlight the obvious that its a bot, a preprogrammed algorithm performing functions automatically. With Ethereum being Proof of Stake now, the $70 million USD paid in gas fees by JaredfromSubway would be directly benefiting and shared amongst those that have staked Ethereum.

Lets be honest. This theory is plausible, whether it is Vitalik or not.

Perhaps it the Ethereum Foundation!

Or maybe the Ethereum Enterprise Alliance!

Who is the largest staker of Ethereum? Why wouldn’t they create a MEV bot. You can create a MEV bot for cheap comparatively. Hire a $100k year salaried blockchain developer and return tens of millions of dollars of value to the network your invested in while also accumulating a profit with the designated bot wallet. Makes sense.

BTW, you can create a MEV bot less than $100K. From a business perspective this makes dollars and Cense (that is sense with a C to sound like cents).

How this pertains to iEthereum exactly is exactly what we have written. JaredfromSubway is an internationally renknowned Ethereum wallet that is attached to a MEV bot that seeks and creates value within the market.

This highlights another manner in which iEthereum provides value in the marketplace. iEthereum has enough value locked in liquidity, that is accessible via the DeFi world of Uniswap and is identifiable to make profit by means of a bot. If a bot can perform these actions, so can others.

Oh wait, other bots do exercise these means. There are 3 or 4 MEV bots that utilize, at various intervals and times, the Uniswap iEthereum liquidity via pairs iEthereum/Ethereum, iEthereum/Hex and iEthereum/PAXG.

JaredfromSubway seems to frequent the iEthereum markets most often. If this wallet is seeing and executing value; why aren’t more? The door of opportunity is there waiting to be opened.

However, there is irony behind this wallet that we must address in relation to a burgeoning crypto, and more specifically, de-fi industry. The operations of jaredfromsubway.eth exemplify the aggressive tactics employed by MEV bots in ERC-20 token trading, including with iEthereum. Its methods are undeniably effective, yet they also highlight the predatory nature of such bots, which exploit inefficiencies at the expense of regular participants. The bot’s choice of name—a reference to a widely condemned figure—only amplifies its ironic actions, drawing an unsettling parallel between its opportunistic behavior and the harm caused by its namesake.

While the comparison may be metaphorical, it serves as a stark reminder: the blockchain ecosystem, much like society, must address how predatory practices impact fairness and trust. As the market matures, mechanisms to mitigate these behaviors should become a priority to preserve the principles of faith, trust and fairness of participation within the Ethereum network. Until then, as Joseph Stalin once said, later popularized by Ice T and pop culture; “Don’t hate the player. Hate the game!”

iEther Way, We See Value!