# The MEV Letter #137 **URL:** https://collective.flashbots.net/t/the-mev-letter-137/5696 **Category:** The Flashbots Ship **Tags:** the-mev-letter **Created:** [May 6, 2026, 8:32pm UTC](https://collective.flashbots.net/t/the-mev-letter-137/5696 "2026-05-06T20:32:00Z") **Posts on this page:** 1 **Page:** 1
### 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: [May 6, 2026, 8:32pm UTC](https://collective.flashbots.net/t/the-mev-letter-137/5696/1 "2026-05-06T20:32:00Z")
_ **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 - [Mind the Gap - Where TEE Attestations Fall Short and Why Do TEEs Need Proof of Cloud](https://writings.flashbots.net/mind-the-gap-tee-poc) by @jonathan and @rezabfil presents the _Data Center Execution Assurance_ (DCEA) attestation protocol to extend attestation to trusted data center hardware by combining two roots of trust - one from the chip manufacturer and a second from the data center operator. - [Forum post](https://collective.flashbots.net/t/mind-the-gap-where-tee-attestations-fall-short-and-why-do-tees-need-proof-of-cloud/5689) by @rezabfil - [Post](https://x.com/rezabfil/status/2050317477826248793) by @rezabfil - [Thread](https://x.com/rezabfil/status/2049972908211245388) by @rezabfil - [Post](https://x.com/0xQuintus/status/2050052519007486347) by @Quintus - [Space Fabric: A Satellite-Enhanced Trusted Execution Architecture](https://arxiv.org/abs/2603.23745) by @rezabfil, [Dahlia Malkhi](https://malkhi.com/), and [Amir Yahalom](https://www.linkedin.com/in/amir-yahalom/) introduces a satellite-native TEE architecture with on-orbit key generation to provide cryptographic proof that an attested workload executes on a specific satellite rather than on a terrestrial TEE. - [Space Fabric: Trusted Computing Built for Orbit](https://x.com/rezabfil/status/2052003147577442760) by @rezabfil - [Thread](https://x.com/rezabfil/status/2051618102279078182) by @rezabfil - [Post](https://x.com/SpaceComputerIO/status/2049292606765679059) by [SpaceComputer](https://spacecomputer.io/) - [Onchain markets can beat centralised orderbooks. It’s time Ethereum did too](https://x.com/bebop_dex/status/2049867261662347594) by[Bebop](https://bebop.xyz/) introduces bopAMM, built in collaboration with [Flashbots](https://www.flashbots.net/), [Titan Builder](https://www.titanbuilder.xyz/), [1010](https://1010.trading/), [Tokenwood](https://x.com/0xTokenwood), and Quasilabs, to coordinate market makers, takers, and block builders into a unified execution path with [permissionless updates](https://github.com/flashbots/priority-update-registry). - [Characterizing Path-Independent Fees: A Route to Zero Impermanent Loss in CPMMs](http://arxiv.org/abs/2604.28017v1) by [Andrey Voronin](https://arxiv.org/search/cs?searchtype=author&query=Voronin,+A), [Roman Vlasov](https://arxiv.org/search/cs?searchtype=author&query=Vlasov,+R), [Vladimir Gorgadze](https://scholar.google.com/citations?user=rCnrKD4AAAAJ&hl=en), [Andrey Seoev](https://arxiv.org/search/cs?searchtype=author&query=Seoev,+A), and [Yury Yanovich](https://ieeexplore.ieee.org/author/37085648731) characterizes path-independent fee structures for CPMMs, and argues that no single fee rule can remove impermanent loss for every pool state. - [From Impermanent Loss to Sustainable Gain: Quantifying Profitability Zones for Liquidity Providers on DEX](http://arxiv.org/abs/2604.28014v1) by [Ignat Melnikov](https://arxiv.org/search/cs?searchtype=author&query=Melnikov,+I), [Roman Vlasov](https://arxiv.org/search/cs?searchtype=author&query=Vlasov,+R), [Vladimir Gorgadze](https://scholar.google.com/citations?user=rCnrKD4AAAAJ&hl=en), [Andrey Seoev](https://arxiv.org/search/cs?searchtype=author&query=Seoev,+A), and [Yury Yanovich](https://ieeexplore.ieee.org/author/37085648731) models how custom fees can reduce impermanent loss for LPs in AMMs, and quantifies symbiotic profitability zones where both LPs and arbitrageurs can profit. - [The Origins of MEV: Systematic Attribution of Arbitrage Opportunity Creation at Scale](http://arxiv.org/abs/2604.27979v1) by [Andrei Seoev](https://arxiv.org/search/cs?searchtype=author&query=Seoev,+A), [Dmitry Belousov](https://arxiv.org/search/cs?searchtype=author&query=Belousov,+D), [Anastasiia Smirnova](https://arxiv.org/search/cs?searchtype=author&query=Smirnova,+A), [Ksenia Kurinova](https://arxiv.org/search/cs?searchtype=author&query=Kurinova,+K), [Aleksei Smirnov](https://scholar.google.com/citations?user=6NKJ2XYAAAAJ&hl=en&oi=ao), [Denis Fedyanin](https://arxiv.org/search/cs?searchtype=author&query=Fedyanin,+D), and [Yury Yanovich](https://ieeexplore.ieee.org/author/37085648731) introduces an attribution framework for [Polygon](https://polygon.technology/) that traces the origins of atomic arbitrage opportunities and quantifies their value. - [Soldøgn Interop Recap](https://blog.ethereum.org/en/2026/05/02/soldogn-interop-recap) by [Tim Beiko](https://x.com/timbeiko) summarizes the [Soldøgn](https://soldogn.xyz/) interop event in Svalbard, attended by over 100 Ethereum core contributors, with a focus on hardening Glamsterdam. - [Post](https://x.com/TimBeiko/status/2050570831491645874) by [Tim Beiko](https://x.com/timbeiko) - [Post](https://x.com/ethereum/status/2050569356338151442) by [Ethereum Foundation](https://ethereum.foundation/) - [Post](https://x.com/soispoke/status/2050836393136468083) by [Thomas Thiery](https://x.com/soispoke) - [Post](https://x.com/nero_eth/status/2050607838888649108) by [Toni Wahrstätter](https://toniwahrstaetter.com) - [Gas overflow for multidimensional fee markets](https://ethresear.ch/t/gas-overflow-for-multidimensional-fee-markets/24766) by [Anders Elowsson](https://x.com/weboftrees) introduces _Universal overflow_ as a minimal [EIP-7999](https://eips.ethereum.org/EIPS/eip-7999)-compatible multidimensional fee-market mechanism that preserves legacy gas semantics without overpricing aggregate EVM gas. - [Thread](https://x.com/weboftrees/status/2050280466251444534) by [Anders Elowsson](https://x.com/weboftrees) - [Intents can now do more: Introducing Atomic Bundles](https://cow.fi/learn/intents-can-now-do-more-introducing-atomic-bundles) by[CoW DAO](https://cow.fi/) introduces [Atomic Bundles](https://docs.cow.fi/cow-protocol/reference/contracts/periphery/wrapper) as a reusable smart contract template that lets developers bundle atomic, multi-step DeFi actions. - [Thread](https://x.com/CoWSwap/status/2050230565832442309) by[CoW DAO](https://cow.fi/) - [Honest reorgs in Gloas](https://www.potuz.net/posts/gloas-honest-reorgs/) by [Potuz](https://x.com/potuz_eth) describe new types of honest reorgs and EL rollbacks that can occur after the Gloas upgrade, due to payloads and beacon blocks being synced at different times. - [Rails and Cargo: Why EIP-8141 Is the Transport That Finally Ships ERC-8211 to Every Ethereum User](https://x.com/biconomy/status/2049885558126854351) by [Biconomy](https://www.biconomy.io/) outlines synergies between structured payloads in [Smart Batching](https://www.erc8211.com/) and universal transport in [Frame transactions](https://eips.ethereum.org/EIPS/eip-8141). # Posts & Threads - @Hasu published a [post](https://x.com/hasufl/status/2050609366793957847) highlighting an outcome from the [Soldøgn](https://soldogn.xyz/) interop event to raise the gas limit from 60M to 200M in Glamsterdam as a result of innovations such as [ePBS](https://eips.ethereum.org/EIPS/eip-7732) and [BALs](https://blockaccesslist.xyz/). - [Post](https://x.com/nero_eth/status/2050614079920668910) by [Toni Wahrstätter](https://toniwahrstaetter.com) - [The Next Bottleneck for Institutional Crypto is Vendor Risk](https://x.com/defin00b/status/2051578161884721394) by[Tesa Ho](https://x.com/defin00b) details the importance of [SOC 2](https://www.aicpa-cima.com/topic/audit-assurance/audit-and-assurance-greater-than-soc-2) and[ISO 27001](https://www.iso.org/standard/27001) for institutional adoption of blockchains. - [Thread](https://x.com/defin00b/status/2051580446660604011) by [Tesa Ho](https://x.com/defin00b) - [Kubi Mensah](https://x.com/kubimensah) published a [thread](https://x.com/kubimensah/status/2051717762838319401) announcing that propAMM liquidity is now available via [Titan Builder](https://www.titanbuilder.xyz/). - [Hang Yin](https://x.com/bgmshana) published a [thread](https://x.com/bgmshana/status/2049704752490205293) detailing how the [Copy Fail](https://copy.fail/) attack works, and why [dstack](https://github.com/Dstack-TEE/dstack) is not affected. # Talks & Discussions - [Epicenter](https://epicenter.tv/): [Why Only 3 Builders Control All of Ethereum](https://www.youtube.com/watch?v=mQuRniB-YSI) invites [Kubi Mensah](https://x.com/kubimensah) for a conversation about the current block-building landscape and the potential impact of protocol upgrades such as [ePBS](https://eips.ethereum.org/EIPS/eip-7732) and [FOCIL](https://eips.ethereum.org/EIPS/eip-7805) going forward. - [Post](https://x.com/tw_tter/status/2050271641565831353) by [Friederike Ernst](https://x.com/tw_tter) - [Post](https://x.com/kubimensah/status/2050258213203796341) by [Kubi Mensah](https://x.com/kubimensah) - [Encrypt The Mempool #3, April 29, 2026](https://www.youtube.com/watch?v=0dr8gf-yMl0) hosted by [Justin Florentine](https://x.com/robocopsgonemad) discussed [LUCID](https://ethresear.ch/t/lucid-encrypted-mempool-with-distributed-payload-propagation/24042), [Encrypted Frame Transactions](https://ethresear.ch/t/encrypted-frame-transactions/24440), [Same-Slot Decryption](https://ethresear.ch/t/same-slot-decryption-for-lucid-optional-n-execution-with-n-1-fallback/24576), and [elusive sandwich attacks](https://x.com/dataalways/status/2047693168791928906). - [Agenda](https://github.com/ethereum/pm/issues/2034) by [Justin Florentine](https://x.com/robocopsgonemad) # Other - [Flashbox Incident Report: April 30, 2026](https://collective.flashbots.net/t/flashbox-incident-report-april-30-2026/5686) by @Moe shares a summary of the action taken by [Flashbots](https://www.flashbots.net/) to upgrade Flashbox images impacted by the [Copy Fail](https://copy.fail/) on April 30th. - [Post](https://x.com/DistributedMarz/status/2049926778903273889) by @dmarz - [Soldøgn](https://soldogn.xyz/) by [Protocol Support Team](https://ps.ethereum.foundation/) aggregates notes and resources from the interop event in Svalbard where over 100 core developers gathered with the goal of hardening Glamsterdam implementations and scaling Ethereum without compromising on its security. - [Post](https://x.com/nixorokish/status/2050858903869514047) by [nixo.eth](https://x.com/nixorokish) - [EIP-8250: Keyed Nonces for Frame Transactions](https://ethereum-magicians.org/t/eip-8250-keyed-nonces-for-frame-transactions/28437) by [Thomas Thiery](https://x.com/soispoke) proposes [EIP-8250](https://github.com/ethereum/EIPs/pull/11598) for Hegotá to give [Frame transactions](https://eips.ethereum.org/EIPS/eip-8141) independent replay domains, unlocking concurrent transactions from trustless privacy protocols. - [Post](https://x.com/soispoke/status/2051632978942390479) by [Thomas Thiery](https://x.com/soispoke) - [Post](https://x.com/VitalikButerin/status/2051675198068330996) by [Vitalik Buterin](https://vitalik.eth.limo/) * * * ✉ [**Sign up here**](https://flashbots.net/the-mev-letter) if you’d like to get The MEV Letter straight to your inbox! 🔮 [Explore previous editions via The MEV Letter explorer](https://collective.flashbots.net/t/explorer/100) ⚡ [Join Flashbots](https://www.flashbots.net/jobs)