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
- Flashbots is paying out >$3m/month to Ethereum apps and users. Why does this matter? by @Hasu describes how Flashbots is becoming a monetization layer for blockchains and the businesses building on them, distributing over $3M per month to Ethereum apps and users.
- EIL: Trust minimized cross-L2 interop by Yoav Weiss presents the vision for Ethereum Interop Layer (EIL) to deliver the UX of a single chain, the security and censorship resistance of Ethereum, with the scalability, price, and speed of the L2 ecosystem.
- The Trustless Manifesto by Yoav Weiss, Vitalik Buterin, and Marissa Posner defines principles for trustless system design, advocates for open, verifiable, and replaceable infrastructure, and urges builders to resist centralizing shortcuts.
- Delivering an impactful 2026 by Alex Stokes highlights Ethereum’s accelerated upgrade cadence through Pectra and Fusaka, and argues for deferring FOCIL to the Heka upgrade.
- Post by Alex Stokes
- Reply by Toni Wahrstätter
- RIG’s view on Glamsterdam by Anders Elowsson, Caspar Schwarz-Schilling, Julian Ma, Maria Silva, Marios Ioannou, and Thomas Thiery outlines the Robust Incentives Group’s view on EIP prioritization for Glamsterdam.
- FOCIL Prioritization by Caspar Schwarz-Schilling presents arguments for and against including FOCIL in Glamsterdam, or delaying it to Heka.
- Introducing The Lab by Sam Calder-Mason, Andrew Davis, and Matty Evans announces a redesigned version of The Lab with enhanced data visualization, network performance monitoring, and access to Xatu datasets.
- How to win as a DEX by PropellerHeads presents a DEX Auction Model in which DEXes bid to win trades by optimizing pricing and colocate with solvers.
- DEX Solver Colocation by Markus Schmitt describes how DEXes are colocating with solvers to adjust quotes in real-time, filter toxic flow, and increase profitability.
- Compression-based state expiry by Guillaume Ballet outlines a phased approach to state expiry, starting with moving inactive contracts to compressed external storage, and then progressing toward a finer per-slot granularity.
- Synchronous Composability vs. Intents: Two Paths to Ethereum-Wide Interop by Alon Muroch compares synchronous composability and intents as methods to reduce fragmentation and improve cross-domain interoperability.
- Chain-Native and Chain-Extension by Lawliet Chan analyzes blockchain architectures through the dichotomy of chain-native and chain-extensions, and details how they differ in MEV mitigation, extensibility, and performance.
Posts & Threads
- Justin Drake published a post summarizing the progress of lean Ethereum initiatives over the past year, including zkEVM real-time proving, RISC-V standardization, and client diversity.
- Anders Elowsson published a thread explaining how EIP-8061, EIP-8062 and EIP-8068 are designed to incentivize validators to consolidate their stake into compounding 0x02 validators.
- ladislaus.eth published a thread sharing publications and collaborations by EF Research from the previous week.
- Terence Tsao published a post presenting Prysm stance on Glamsterdam’s non-headliner EIPs.
- ETHGas published a thread announcing the launch of Realtime Blocks, enabling preconfirmations by subdividing L1 blocks into synthetic 100ms sub-blocks.
Talks & Discussions
- ZK Hack: ZK Whiteboard Sessions: Trusted Execution Environments with @socrates1024 provides an overview of TEEs, explaining core principles, trust model, security considerations, and more.
- Bankless: Ethereum Beast Mode - Scaling L1 to 10k and Beyond invites Justin Drake to present progress on lean Ethereum, and outline how Ethereum will leverage SNARKs and zkVMs to scale.
- Deeply Intents: One CLOB to Rule them All invites Markus for a conversation on TEEs, CLOBs and Tplus.
- The Fusaka Files: Inside Ethereum’s Lookahead Logic EIP-7917 invites Justin Drake to give an overview of EIP-7917, which adds a proposer_lookahead-field to the beacon state for storing a deterministic proposer lookahead for the next epoch.
- Let Ethereum Cook: The Foundation’s Push for ZK, Privacy, and Tokenization invites James Smith for a conversation on the role of the Ethereum Foundation, recent breakthroughs in ZK, Fusaka, and more.
- All Core Devs - Consensus (ACDC) #169 hosted by Alex Stokes covered Fusaka’s stable testnet performance, and discussed non-headliner EIPs for Glamsterdam, including whether FOCIL should be included or deferred to the Heka upgrade.
Other
- Flashbots at Devconnect ARG, Buenos Aires 2025 by @vanlo details talks, panels, and events with Flashbots throughout Devconnect week in Buenos Aires.
- MEV-Boost v1.10.1 by Flashbots is a required update for the upcoming Fusaka upgrade.
- Post by @metachris
- MEV-Boost-Relay v0.32.0 by Flashbots adds support for the upcoming Fusaka upgrade.
- Post by @metachris
- Contender v0.5.6 by Flashbots adds cheaper Uniswap scenarios, improved CI and release messages, and more.
- Lodestar Glamsterdam Upgrade Proposal by Phil Ngo details Lodestar’s tier list of EIPs to be included in Glamsterdam.
- Scaling Base safely with end-to-end benchmarking by Julian Meyer presents Base Benchmark as an end-to-end benchmarking tool for testing Ethereum L2 client performance under real-world conditions.
- Checkpoint #7: Nov 2025 by nixo.eth gives a high-level summary from recent All Core Developer calls, focusing on Fusaka testnets, Glamsterdam planning, and preliminary scoping for the Heka / Bogotá upgrade.
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