A standard OP series L2 system with a sequencer that has a lot of power to decide who trades first and who comes last. Different L2 also have different treatment schemes for MEV, for example, Arb advocates fair treatment of MEV, while OP is more encouraged, and Based-Rollup chooses to let ETH L1 do the sorting, @0x_Todd will be discussed in depth for you through this article.
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