The MEV Letter is a weekly collection of papers, articles and resources related to MEV. The intention of this letter is to provide a comprehensive summary of the latest research, discussions, and developments in the space, with links for further reading.
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Papers & Articles
- Combined refunds by @shea details a trial feature in BuilderNet that enables orderflow providers to monetize their priority fees via on-chain combined refunds instead of monthly out-of-band payments.
- Flashblocks Deep Dive: How we made Base 10x faster by Cody Wang shares technical details from implementing Flashblocks on Base, speeding up effective block times from 2s to 200ms.
- Enshrined Proposer-Builder Separation (ePBS) on Ethereum and legally credible neutrality by Mikołaj Barczentewicz examines the legal and policy implications of ePBS in improving the credible neutrality of proposers.
- MEV - A Deep Dive by lab gremlin explores the evolution of MEV on Ethereum, detailing its origins, impacts, and trends in both strategies and solutions to mitigate its negative externalities.
- Post by lab gremlin
- Open, Application-Driven FHE for Ethereum by Miha Stopar explains how FHE can bring encrypted computation to Ethereum and describes use cases, design tradeoffs, and potential paths forward.
- Measuring Validator Economics Under Preconfirmations: Early Mainnet Evidence by Murat Akdeniz analyzes block rewards from August 2025 to evaluate how much value preconfirmations via mev-commit are adding to blocks.
- Making L2s Ethereum Again: Gattaca’s Blueprint for Based Ethereum L2s by Gelato presents a three-staged gateway delegation model from Gattaca that transitions rollups to based sequencing.
Talks & Discussions
- BuilderNet Community Call #2 hosted by @shea shared updates on BuilderNet roadmap and discussed auction designs, redistribution architecture, and more.
- Forum Post by @shea
- Thread by @dmarz
- All Core Devs - Execution (ACDE) #220 hosted by Tim Beiko discussed a tentative timeline for Fusaka activation on testnets, updates on Glamsterdam, and epbs-devnet-0 spec.
- All Core Devs - Testing (ACDT) #53 hosted by danceratopz covered fusaka-devnet-5, updates on gas limit testing, and Glamsterdam headliners.
- EIP-7732 Breakout Room Call #23 hosted by Justin Traglia discussed the latest progress on ePBS, including Beacon API standardization and impact on MEV-Boost relays.
- EIP-7928 Breakout #2 hosted by Toni Wahrstätter covered client implementation updates related to BALs.
- The Canonical Podcast: The Future of Ethereum invites Barnabé Monnot to discuss the strategic initiatives of Protocol at Ethereum Foundation to: Scale L1, Scale blobs, and Improve UX.
- The Rollup: The Ethereum Scaling Vision invites Justin Drake for a conversation on ZKVM, Lean Consensus, privacy, and more.
- Post by The Rollup
- Post by Andy
Other
- Contender v0.4.4 by Flashbots adds human-friendly constructor args, warnings for long contract deployments, and more.
- PGA MEV Analyzer by lab gremlin is a real-time analysis tool for detecting PGA transactions in the Ethereum mempool.
- Post by lab gremlin
- Fusaka $2,000,000 Audit Contest! by Ethereum Protocol Security Research Team details a four-week audit contest to identify potential vulnerabilities in the Fusaka upgrade.
- PSE Roadmap: 2025 and Beyond by samrichards.eth presents PSE’s mission, vision, strategy, and key initiatives to make privacy a default feature across Ethereum infrastructure and applications.
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Explore previous editions via The MEV Letter explorer