!To celebrate this milestone, we’re launching The MEV Letter Explorer: A new tool that allows you to explore all past letters at once in a searchable, filterable interface.
With the new explorer, you’ll be able to contextualize the content, identify research patterns, and connect the dots in ways that a static newsletter is never able to do.
The initiative is still under active development, and improvements will ship daily. Please read the announcement for more details, and try it out for yourself!
Papers & Articles
- Unravelling the Probabilistic Forest: Arbitrage in Prediction Markets by Oriol Saguillo, Vahid Ghafouri, Lucianna Kiffer, Guillermo Suarez-Tangil analyzes Polymarket data to quantify arbitrage opportunities and estimates $40M in realized profits from market mispricings.
- Integrating 3SF with ePBS, FOCIL, and PeerDAS by Luca Zanolini and Roberto Saltini explores how 3SF can be integrated with the current designs of ePBS, FOCIL, and PeerDAS.
- Anti-Sniper Defenses: Token Launches & Beyond by Conor McMenamin, Nikola Mratinic and Angel Domingue examines how sniper bots exploit agentic token launches, describes current defensive measures, and presents alternative mechanisms to disrupt their latency and liquidity advantages.
- EIP-7999: Unified multidimensional fee market by Anders Elowsson explains the multidimensional gas metering in EIP-7999, designed to unify gas fee markets and enable precise control over resource consumption.
- Privacy 2.0: The Present State of the Programmable Privacy Stack by Aadharsh Pannirselvam examines the tradeoffs between TEEs, MPC, and FHE, and how hybrid solutions could shape the future of private shared state on blockchains.
- How to Implement FOCIL in the CL by Jihoon Song covers changes that FOCIL would introduce to the CL, and examines the compatibility between FOCIL and ePBS.
- Post by Jihoon Song
- Ethereum (ETH) Staking Insights & Protocol Analysis: First Half of 2025 by Everstake highlights network activity from the first half of 2025, including the impact of Pectra, and staking trends.
Posts & Threads
- @ryager continued their thread highlighting 1 item from each edition of The MEV Letter as a way to celebrate Edition #100.
- Jake published a thread recounting their experience from the 2023 latency arms race between searchers on Arbitrum that degraded the sequencer’s performance and exposed vulnerabilities in its FIFO design.
- ladislaus.eth published a thread sharing publications and collaborations by EF Research from the previous week.
- Test in Prod (Sunnyside Labs) published a thread detailing how Test in Prod (Sunnyside Labs), Base, and ethPandaOps are collaborating on fusaka-devnet-4 to stress test the upcoming fork.
- Post by Base Build
- Post by parithosh
- Spire published thread announce that DA Builder is live on mainnet and aggregates blob submissions from multiple L2s into a single transaction.
Talks & Discussions
- Recordings from The MEV Workshop at the Science of Blockchain Conference 2025 (MEV-SBC ’25) hosted by Flashbots has been uploaded:
- TTEE: Marrying Cryptography and Physics by @Quintus
- Optimizing Compiler for Oblivious Computation by Elaine Shi
- Endgame EIP-1559 by Davide Crapis
- AUCIL: An Inclusion List Design for Rational Parties by Sarisht Wadhwa
- Optimistic MEV in Ethereum Layer 2s: Why Blockspace Is Always in Demand by Lioba Heimbach
- TimeBoost: Auctioning Time-Advantage in FCFS by Akaki Mamageishvili
- Accountable Cryptography and its Incentives by Mahimna Kelkar
- BEAT-MEV: Epochless Approach to Batched Threshold Encryption for MEV Prevention by Jan Bormet
- Building Concretely Efficient Anonymous Communication Systems by @mark
- Consensus Under Adversary Majority Done Right by Joachim Neu
- Transaction Fee Mechanism Design for Multi-leader Protocols by Pranav Garimidi
- Panel: Geographic Decentralization with Phil Daian, John Adler, Quintus Kilbourn, and Pranav Garimidi
- Thread by @sarah.allen
- Recordings from Geographic Decentralization Salon @ SBC '25 hosted by Flashbots has been uploaded:
- Geo Decentralization & Ethereum: A Data Perspective by @dataalways
- Simulating Centralization by @boz1 and @syang
- Defining Geographic (De)Centralization by @phil
- Geographically Distributed Auctions by Mallesh Pai
- BFT Proof of Location by Ranvir Rana
- Proof-of-Location: On-Earth and Orbital Roots of Trust by @rezabfil
- Cost of Kidnapping: Graduating From The Nakamoto Coefficient by Lu Zhang
- Post by @Quintus
- Recordings from NoConsensus.wtf 2025 @ SBC hosted by Flashbots and Pod Network has been uploaded:
- Block Propagation Before and After PeerDAS by mempirate
- Unreal-World Bandwidth on Sei Infrastructure by Kartik Bhat
- Real-World Bandwidth on World Infrastructure by Leyton Taylor
- PANDAS: Peer-to-peer, Adaptive Networking for Data Availability Sampling within Ethereum Consensus Timebounds by Michał Król
- Deanonymizing Ethereum Validators on the P2P Network by Lioba Heimbach
- Scaling Distributed Protocols with TEEs: The Fail-Stop Model by @Quintus
- VRFs and Timelock Encrypted Mempools by Patrick Ogrady
- Production Distributed Block Building Measurements by @dmarz
- Are Existing Consensus Protocols Censorship Resistant, or Do We Need a New One? by Odysseas Sofikitis
- RLNC for Censorship Resistance and Anonymization in P2P by Muriel Medard
- Motivating Unconditional Privacy and Anonymous Broadcast by @phil
- ZipNet: Anonymous Broadcast from TEEs by Fan Zhang
- ADCNet: Threshold Cryptography-based Protocol for Anonymous Broadcast Communication with Auction-based Message Scheduling by @mark
- Composing Without Consensus Fine-grained isolation, delegation and access control in off-chain environments by Louis Thibault
- Livestreams from The Science of Blockchain Conference 2025 hosted by IC3, Stanford Center for Blockchain Research, and UC Berkeley RDI has been uploaded:
- Livestream from BASS (Blockchain Application Summit Stanford) Berkeley at SBC '25 hosted by Stanford Blockchain Club has been uploaded.
- Livestreams from Frontiers hosted by Paradigm has been uploaded:
- All Core Devs - Consensus (ACDC) #162 hosted by Alex Stokes discussed Fusaka updates, Glamsterdam preparations, BPO forks, PeerDAS, and more.
- Thread by Pooja Ranjan
- Thread by nixo.eth
- Post by Dan Robinson
- Post by Dan Robinson
- Post by Thomas Thiery
- L2 Interop Working Group Call #12 hosted by Joshua Rudolf discussed the latest related to interoperability and cross-chain intents from the L2 ecosystem.
- Notes by Joshua Rudolf
- Post by Joshua Rudolf
- Bankless: How Ethereum Becomes The World Ledger invites Vitalik Buterin to discuss the history of Ethereum, recent trends, and how the space might evolve in the next decade.
- Core Notes from Core Devs with Churro and Terence Tsao talk about hard fork coordination, Glamsterdam, ePBS, and more.
Other
- The MEV Letter Explorer by @Fred is an interactive explorer to search, filter, and analyze the full historical archive of The MEV Letter.
- Forum post by @Fred
- Thread by Fred
- Quick Links to understand TTEE by @Quintus share resources relevant to the Trustless TEE Initiative.
- Block-Level Access Lists by Toni Wahrstätter explains how BALs allow validators to execute multiple transactions simultaneously, and provides links to research, client implementation progress, and more.
Sign up here if you’d like to get The MEV Letter straight to your inbox!
Explore previous editions in The MEV Letter explorer