> For the complete documentation index, see [llms.txt](https://cs4998.cornellblockchain.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://cs4998.cornellblockchain.org/mev-and-advanced-blockchain-theory/maximal-extractable-value-mev.md).

# Maximal Extractable Value (MEV)