BuilderNet by Flashbots: status and timeline

Milestones

Next · Multi-chain expansion

MEV-Boost launches mainnet15 Sep 2022Complete.
BuilderNet launchesNov 2024Complete.
All builders migrate to BuilderNetDec 2024Complete.
Flashblocks on BaseJul 2025Complete.
Multi-chain expansionTarget Q3 2026Current milestone.

Most important updates

Flashblocks on Base reduces block time to 200 millisecondsJul 2025
BuilderNet launches with decentralized block buildingNov 2024
MEV-Boost launches on Ethereum mainnet15 Sep 2022

Upcoming

Q3 2026Multi-chain expansion (next)
2027EIP-7732 (ePBS) deployed if adopted

Current obstacles

Concentration remainsThree operators produce 85%+ of blocks despite decentralization.
TEE trust assumptionsRelies on TEE vendors being trustworthy and secure.

Physics limits

Consensus strength depends on validatorsBuilder decentralization cannot overcome validator cartel control of consensus.
Latency vs. decentralizationMore builders and coordination increase latency; speed-security tradeoff.

How it works

2 parts

TEE builders

Secure, identical execution

Each builder runs in TEE executing identical logic. Orderflow shared safely.

Competition

Builders bid on blocks

Multiple builders compete; validators choose highest-value block.

Spec sheet

Spec	BuilderNet
Ethereum adoption	~90% of blocks^R (reported)
Protocol MEV 2H 2025	$5.2B^R (reported)

^R reported by the company

Update log

3 updates

About Flashbots

The team behind BuilderNet

Flashbots

MEV-Boost, BuilderNet, block building infrastructure

Flashbots builds MEV infrastructure for Ethereum. MEV-Boost, used by 90% of validators, outsources block building. BuilderNet (Nov 2024) decentralizes builders.

MEV-Boost (Sep 2022) runs in ~90% of Ethereum blocks.
BuilderNet (Nov 2024) decentralizes builders with TEEs.
Series B: $60M from Paradigm (Jul 2023).

flashbots.net (opens flashbots.net)Company profile →

Founded: 20206 yrs
Headquarters: Cayman Islands
Status: Private
Valuation: $1BprivateJul 2023
Raised: $69M3 rounds
Last round: Series A · $6.5MJul 2023
Works in: CryptoBlockchains (L1s)
Coverage: 1 program · 4 updateslatest 1 Jul 2025checked 11 Oct
Lead investors: Paradigm
Partners: Ethereum FoundationCoinbaseBase
People: Philip DaianCo-founder & Head of Research

BuilderNet

Milestones

Most important updates

Upcoming

Current obstacles

Physics limits

How it works

Secure, identical execution

Builders bid on blocks

Spec sheet

Update log

Jul 2025

Nov 2024

Thu 15 Sep 2022

About Flashbots

Current obstacles

Physics limits

How it works

Secure, identical execution

Builders bid on blocks

Spec sheet

Update log

Jul 2025

Nov 2024

Thu 15 Sep 2022

About Flashbots