What is the Maximum Recoverable Value (MEV)?

Maximum Extractable Value (MEV) is a strategy that involves excluding, including, and reordering transactions when a new block is created. Using a strategy allows miners to get the maximum profit. Usually, the strategy is used by block producers, who have the right to choose and order the transaction. If other network participants see opportunities to extract value, they can pay a fee and add transactions to the block. Most often, the MEV strategy is used in networks with developed smart contracts, for example, in Ethereum.