# The MEV Letter #135

**URL:** https://collective.flashbots.net/t/the-mev-letter-135/5672
**Category:** The Flashbots Ship
**Tags:** the-mev-letter
**Created:** [April 22, 2026, 9:42pm UTC](https://collective.flashbots.net/t/the-mev-letter-135/5672 "2026-04-22T21:42:56Z")
**Posts on this page:** 1
**Page:** 1

<div class="post-metadata">

### Author: ![Fred](https://collective.flashbots.net/user_avatar/collective.flashbots.net/fred/32/1288_2.png) [@Fred](https://collective.flashbots.net/u/Fred)
#### Post date: [April 22, 2026, 9:42pm UTC](https://collective.flashbots.net/t/the-mev-letter-135/5672/1 "2026-04-22T21:42:56Z")

</div>

_ **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.

⚡ [_ **Help improve The MEV Letter by sharing your feedback!** _](https://flashbots.notion.site/7ea40f24a4f6453fa8fcd5a3c28e7956) ⚡

# Papers & Articles

- [Where Does MEV Really Come From? Revisiting CEXDEX Arbitrage on Ethereum](http://arxiv.org/abs/2604.15973v1) by [Bence Ladóczk](https://mlvl36667.github.io/), [Miklós Rásonyi](https://www.renyi.hu/~rasonyi/), and [János Tapolcai](https://www.linkedin.com/in/janos-tapolcai-174310312/) models CEX-DEX arbitrage in a CPMM setting with stochastic jumps and estimates arbitrage profits that are orders of magnitude larger than those predicted by earlier GBM-based models.
- [Ethereum’s Staking Ratio: The Tipping Point](https://pintail.xyz/posts/2026/staking-ratio/) by [pintail](https://pintail.xyz/) analyzes how Ethereum’s staking ratio surpassed 1/3 due to liquid staking, rehypothecation, and restaking, and argues for adjusting the issuance curve to reduce dilution and preserve decentralization.
  - [Post](https://x.com/pintail_xyz/status/2046316598403735870) by [pintail](https://pintail.xyz/)

- [Stake-Based Transaction Ordering: A New Experiment on OP Mainnet](https://www.optimism.io/blog/stake-based-transaction-ordering-a-new-experiment-on-op-mainnet) by [Optimism](https://www.optimism.io/) announces [stake-based transaction ordering](https://docs.optimism.io/notices/stake-based-priority-ordering) on OP Mainnet, where participants who stake OP receive top-of-block positioning for their transactions.
  - [Thread](https://x.com/Optimism/status/2044836121860002191) by [Optimism](https://www.optimism.io/)
  - [Forum post](https://gov.optimism.io/t/upgrade-proposal-stake-based-priority-ordering-experiment/10655) by [Ben Jones](https://x.com/ben_chain)

- [Introducing Privacy Boost — Optimism’s First Privacy Offering](https://www.privacyboost.io/resources/blog/introducing-privacy-boost) by [Sunnyside Labs](https://www.sunnyside.io/) presents [Privacy Boost](https://www.privacyboost.io/) as a regulatory-friendly, high-performant, and composable SDK that leverages ZK and TEEs for private transactions.
  - [Privacy on the OP Stack](https://x.com/jinglejamop/status/2046588658464034852) by [Jing Wang](https://x.com/jinglejamop)
  - [Thread](https://x.com/PrivacyBoost/status/2046588675606388881) by [Privacy Boost](https://www.privacyboost.io/)
  - [Post](https://x.com/Optimism/status/2046591718695256329) by [Optimism](https://www.optimism.io/)

- [Frame Transactions and the Three Gates to Privacy](https://ethresear.ch/t/frame-transactions-and-the-three-gates-to-privacy/24666) by [Toni Wahrstätter](https://toniwahrstaetter.com) describes how [Frame transactions](https://eips.ethereum.org/EIPS/eip-8141) could improve privacy and censorship resistance in privacy protocols by reducing reliance on centralized relayers.
- [Optimizing Besu Performance: Parallelizing State Root Computation](https://www.lfdecentralizedtrust.org/blog/optimizing-besu-performance-parallelizing-state-root-computation) by [Karim Taam](https://github.com/matkt) and [Améziane Hamlat](https://x.com/A_HAMLAT) explains how [Besu](https://besu.hyperledger.org/) parallelizes state root computation to reduce Ethereum block processing time by up to 40%.
  - [Post](https://x.com/A_HAMLAT/status/2046828827389620415) by[Améziane Hamlat](https://x.com/A_HAMLAT)

- [ETH Rangers Program Recap](https://blog.ethereum.org/2026/04/16/eth-rangers-recap) by[Protocol Security Team](https://security.ethereum.org/) and[Grants Management Team at Ethereum Foundation](https://ethereum.foundation/) shares outcomes from the[ETH Rangers Program](https://blog.ethereum.org/2024/12/02/ethrangers-public-goods) and its 17 security efforts spanning vulnerability research, formal verification, incident response, and more.
- [A Unified Ethereum Ecosystem. Not a Hundred Islands. Powered by the Ethereum Economic Zone](https://x.com/kyleArojas/status/2046634157032222823) by[Kyle Rojas](https://x.com/kyleArojas) describes how [Ethereum Economic Zone](https://eez.io/) (EEZ) reduces rollup fragmentation through real-time proving and synchronous cross-chain composability.
- [Proof of Time: From Untrusted to Trusted Era](https://collective.flashbots.net/t/proof-of-time-from-untrusted-to-trusted-era/5670) by[OpenTTT Research Team](https://github.com/Helm-Protocol/OpenTTT) describes how[Proof-of-Time](https://collective.flashbots.net/t/proof-of-time-from-trust-based-to-physics-based-transaction-ordering/5618) could reduce order manipulation and information asymmetry across domains beyond DeFi.

# Posts & Threads

- [Mislav Javor](https://x.com/ox_shaman) published a [post](https://x.com/ox_shaman/status/2046889622500720855) highlighting synergies between structured payloads in [Smart Batching](https://www.erc8211.com/) and universal transport in [Frame transactions](https://eips.ethereum.org/EIPS/eip-8141).
- [Lumi](https://x.com/zklumi) published a [post](https://x.com/zklumi/status/2044779343637791053) summarizing proposed upgrades to reduce slot time and finality.
- [Oisín Kyne](https://x.com/OisinKyne) published a[thread](https://x.com/OisinKyne/status/2045199688228295104) advocating for the inclusion of[EIP-7716](https://eips.ethereum.org/EIPS/eip-7716) in Hégota to increase penalties for correlated validators that go offline.

# Talks & Discussions

- [Indexed Podcast](https://www.indexedpod.com/): [The Hidden Risks of Crypto Bridges](https://www.youtube.com/watch?v=7W9B7wYtaaU) invites [donnoh.eth](https://x.com/donnoh_eth) for a conversation on interoperability, bridging risks, and the trust assumptions of cross-chain assets.
- [Touch Grass Podcast](https://x.com/touchgrass_pod):[Privacy Boost ft Karl and Taem](https://www.youtube.com/watch?v=VPI_Hv6PH2I&time_continue=0&source_ve_path=NzY3NTg&embeds_referring_euri=https%3A%2F%2Fx.com%2F) invites[Karl Floersch](https://karl.tech/) and[Taem Park](https://x.com/taem_park) for a conversation on the current state of privacy on L2s, and presents[Privacy Boost](https://www.privacyboost.io/) as an SDK for confidential EVM transactions.
  - [Post](https://x.com/rachit/status/2046592346922598805) by[Rachit Agarwal](https://x.com/rachit)

- [All Core Devs - Consensus (ACDC) #177, Apr 16, 2026](https://www.youtube.com/watch?v=KTRviKfUEf4) hosted by [Alex Stokes](https://stokes.io) discussed Glamsterdam devnet updates and Hegotá non-headliner proposals.
  - [Agenda](https://github.com/ethereum/pm/issues/1990) by [nixo.eth](https://x.com/nixorokish)
  - [Notes](https://x.com/christine_dkim/status/2045126263010959366) by [Christine D. Kim](https://x.com/christine_dkim)
  - [Notes](https://etherworld.co/highlights-from-the-all-core-developers-consensus-acdc-call-177/) by [Yash Kamal Chaturvedi](https://x.com/YashKamalChatu1)

- [All Core Devs - Testing (ACDT) #78, April 20, 2026](https://www.youtube.com/watch?v=ZvG3OkEt8_o) hosted by [Mario Vega](https://x.com/elbuenmayini) covered updates from [blob-devnet-0](https://notes.ethereum.org/@ethpandaops/blob-devnet-0), glamsterdam-devnet-0, [epbs-devnet-1](https://notes.ethereum.org/@ethpandaops/epbs-devnet-1), and debug RPC.
  - [Agenda](https://github.com/ethereum/pm/issues/2019) by [Mario Vega](https://x.com/elbuenmayini)

- [FOCIL Breakout #33, April 21, 2026](https://www.youtube.com/watch?v=Uj18ob_u-so) hosted by [Jihoon Song](https://x.com/jih2nn) covered specification updates, testing, and implementation updates related to [FOCIL](https://eips.ethereum.org/EIPS/eip-7805).
  - [Agenda](https://github.com/ethereum/pm/issues/2031) by [Jihoon Song](https://x.com/jih2nn)

- [Native Account Abstraction #1, April 22, 2026](https://www.youtube.com/watch?v=pxWZyZ-exLA) hosted by[Marc Garreau](https://github.com/wolovim) discussed [Account Abstraction proposals](https://hackmd.io/@matt/aa-link-tree) and their compatibility tradeoffs.
  - [Agenda](https://github.com/ethereum/pm/issues/2018) by[Marc Garreau](https://github.com/wolovim)

# Other

- [ERC-733: TEE-EVM Co-processing](https://www.erc733.org/) by [Justin Zhang](https://x.com/JustinZhang) and @socrates1024 presents _TEE-EVM Co-processing_ as a standard for confidential, scalable, and verifiable off-chain computation on Ethereum.
  - [Thread](https://x.com/JustinZhang/status/2044594554234601790) by [Justin Zhang](https://x.com/JustinZhang)
  - [Post](https://x.com/socrates1024/status/2044956527434297666) by [Andrew Miller](https://soc1024.com)
  - [Post](https://x.com/sparsity_xyz/status/2044594917968888228) by [Sparsity](https://www.sparsity.xyz/)

- [Contender v0.10.0](https://github.com/flashbots/contender/releases/tag/v0.10.0) by [Flashbots](https://www.flashbots.net/) introduces [Contender’s JSON-RPC server](https://github.com/flashbots/contender/pull/494), combined callback system, improved logging, and more.
  - [Thread](https://x.com/zeroXbrock/status/2046696407932010590) by [brock](https://x.com/zeroxbrock)
  - [Thread](https://x.com/zeroXbrock/status/2046698627788369971) by @brock

- [Cannes 2026 Recap](https://blockspace.forum/learn/events/cannes-2026.html) by [Blockspace Forum](https://blockspace.forum/) gives a summary of the sessions hosted at [Blockspace Forum Cannes](https://luma.com/blockspaceforum) on multi-party block building, sub-slot auctions, and more.
  - [Thread](https://x.com/blockspaceforum/status/2044795348233629859) by [Blockspace Forum](https://blockspace.forum/)

- [Interactive Interop page](https://l2beat.com/interop/summary) by [L2BEAT](https://x.com/l2beat) is a dashboard visualizing how value moves across the Ethereum rollup ecosystem.
  - [Thread](https://x.com/l2beat/status/2046218169337909748) by [L2BEAT](https://x.com/l2beat)

- [eips.sh](https://eips.sh/) by [jxom](https://x.com/_jxom) lists information and status for EIPs and ERCs.
  - [Post](https://x.com/_jxom/status/2045079525474889915) by [jxom](https://x.com/_jxom)

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