Constitutional AIP: Proposal to adopt Timeboost, a new transaction ordering policy

Thanks team.
To keep clarifying this part, as

“Access to the express lane would be auctioned off in one-minute rounds, with the auction happening 15 seconds before the round begins.”

Does it mean we expect searchers to bid continuously in advance, expecting opportunities to happen 1m later, rather than “in real time” opportunities (I see something → I submit an arbitrage tx with priority)?

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