I recently deployed a PCV Vault on Base (0x38DcDB3A381677239BBc652aed9811F2f8496345).
We built a highly optimized atomic internal router (buyGBLIN) to mint the token exactly at NAV, bypassing the intentionally thin Aerodrome DEX liquidity. My architectural assumption was that MEV searchers would aggressively arbitrage the spread between the DEX spot price and our internal quoteBuyGBLIN view function to keep the peg.
However, watching the current L2 meta on Base, it seems the ecosystem is almost entirely monopolized by off-chain Solvers (CowSwap, UniswapX, 1inch Fusion).
My question for the Research collective: Is building native internal routing for PCV vaults practically obsolete on L2s now? Are active searchers completely ignoring direct smart-contract arbitrage opportunities unless they are bundled through an intent-based solver network?
I’d love to hear how you are currently evaluating these on-chain spreads versus just plugging into solver APIs. If the meta has shifted completely to intents, we might need to rethink the gas overhead of native routers.