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
- The Geography of Block Building by @dataalways analyzes how network latency and geographic colocation between relays and builders increasingly shape the outcomes of PBS auctions.
- The Protocol Fee Discount Auction by Hayden Adams, Brad Bachu, Alex Nezlobin, Sara Reynolds, Dan Robinson, Mark Toda, Xin Wan, Zach Wong, and Ciamac Moallemi introduces an auction for the Uniswap protocol where traders bid for temporary fee exemptions to reduce LVR, and redirect MEV from searchers and validators to the protocol.
- Fusaka Mainnet Announcement by Ethereum Foundation details the timeline, client releases, and EIPs included in the upcoming Fusaka upgrade.
- Thread by Alex Stokes
- Thread by Tim Beiko
- Thread by smstack.eth
- All About Fusaka by smstack.eth outlines the impact of the upcoming Fusaka upgrade on scaling the L1, scaling blobs, and improving UX.
- t1 Vision Litepaper by t1 presents a design for real-time programmable composability between Ethereum L1 and L2s using TEEs and ZKPs.
- Modeling the Worst-Case Parallel Execution under EIP-7928 by Toni Wahrstätter explains how BALs enable transaction parallelization and details the trade-offs between two scheduling models: Greedy (Reordering allowed) and Ordered List Scheduling (OLS).
- A trivial form of PBS: MEV Lock by Potuz presents a way to completely separate the builder role from the proposer role of validators in ePBS using a randomized builder selection process.
Posts & Threads
- Thomas Thiery published a thread advocating for the inclusion of FOCIL in Glamsterdam to enhance censorship resistance and enable predictable transaction inclusion.
- Barnabé Monnot published a post arguing that adding FOCIL to Glamsterdam would be a short-sighted decision that risks delaying ePBS deployment.
- Terence Tsao published a post detailing the current, and future mechanisms through which a transaction can be included onchain despite builder-level censorship.
- Justin Drake published a post positioning SNARKs as Ethereum’s future cryptographic foundation for enhanced scalability, privacy, and post-quantum security.
- Rahul Saxena published a thread arguing that even though TEE.Fail demonstrates a significant vulnerability in TEEs, it requires unrealistic access levels to both physical and software root access, rendering it unlikely to compromise production cloud workloads.
Talks & Discussions
- Ethereum Foundation’s path to 10,000 TPS and Bitcoin’s 51% attack risk invites Justin Drake for a conversation on L1 security economics over the next decade.
- The Fusaka Files: Increased Resilience and Stability Through Gas Limit Cap invites Toni Wahrstätter to present the impact of introducing a cap on the maximum gas used per transaction in Fusaka via EIP-7825.
- Deeply Intents: One Click Ethereum invites Mislav for a conversation on chain abstraction, composability, censorship resistance, and more.
- Signaling Theory Podcast: Upgrading the MEV Supply Chain invites Drew Van Der Werff to discuss preconfirmations, Commit-Boost, Fabric, and more.
- All Core Devs - Execution (ACDE) #224 hosted by Ansgar Dietrichs finalized Fusaka mainnet rollout plans, discussed Glamsterdam EIPs, gas reprising proposals, and more.
- All Core Devs - Testing (ACDT) #61 hosted by Mario Vega covered Fusaka testnets status updates, mainnet client releases, and Glamsterdam testing.
- Agenda by Mario Vega
- Thread by Pooja Ranjan
- L2 Interop Working Group Call #16 hosted by donnoh.eth discussed reducing the 7-day withdrawal window for stage 1 rollups by Vitalik Buterin, and its potential impact on UX, censorship resistance, and protocol economics.
- Agenda by Joshua Rudolf
- Notes by Joshua Rudolf
- Thread by Joshua Rudolf
- EIP-7732 Breakout Room Call #27 hosted by Justin Traglia discussed updates related to ePBS, including the new consensus spec, client implementations, and more.
- EIP-7928 Breakout #6 hosted by Toni Wahrstätter covered devnet updates, specification changes, and client implementations related to BALs.
Other
- Changes and deprecations in Flashbots Protect RP by @shanejonas announce upcoming API changes to the Flashbots Protect API effective November 17 to deprecate legacy endpoints, introduce JSON-RPC batching, and more.
- Orderflow.Barterswap by Barter continues the initiative to illuminate Ethereum’s orderflow landscape by visualizing the transaction flows between frontends, aggregators, solvers, OFAs, and builders.
- UNIfication Proposal by Hayden Adams, Ken Ng, and Devin Walsh presents a joint Uniswap Labs and Uniswap Foundation governance proposal to enable protocol fees, consolidate Foundation functions into Labs, and implement a UNI burn mechanism.
- Thread by Hayden Adams
- Thread by Devin Walsh
- Post by Ken Ng
- Post by Uniswap Labs
- Geth Glamsterdam EIP ranking by Go Ethereum details their tier list of EIPs to be included in Glamsterdam.
- Łukasz Rozmej published a thread presenting the Glamsterdam EIPs tier list from Nethermind.
- Glamsterdam EIP Priorities by Jennifer presents the Glamsterdam EIPs tier list from Reth.
- Glamsterdam PFI stand by Erigon presents their Glamsterdam EIPs tier list.
- Glamsterdam EL EIPs by Nimbus presents their Glamsterdam EIPs tier list.
- TEE Wiki by Automata Network has been updated with new features to serve as a collaborative knowledge base focused on TEEs and their role in decentralized systems, intelligent agents, and verifiable AI.
- The Framework Behind Ethereum’s Gas Limit Increases by Kamil Chodoła describes how Gas Benchmarks evolved from an internal Nethermind project into Ethereum’s standardized framework for empirically validating client readiness before gas limit increases.
- Thread by Nethermind
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