# The MEV Letter #146 **URL:** https://collective.flashbots.net/t/the-mev-letter-146/5822 **Category:** The Flashbots Ship **Tags:** the-mev-letter **Created:** [July 8, 2026, 11:22pm UTC](https://collective.flashbots.net/t/the-mev-letter-146/5822 "2026-07-08T23:22:59Z") **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: [July 8, 2026, 11:22pm UTC](https://collective.flashbots.net/t/the-mev-letter-146/5822/1 "2026-07-08T23:22:59Z")
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. # Papers & Articles - [ERC: Priority Update Registry (PUR)](https://ethereum-magicians.org/t/erc-priority-update-registry-pur/28921?u=quintus) by @Quintus, @vitaliy, and @Tymur presents a draft contract standard for propAMMs using a shared EVM registry, making propAMM updates easier to prioritize, verify, and analyze across builders. - [Post](https://x.com/0xQuintus/status/2073147488878399540) by @Quintus - [Ordering by Unanimity: Giving Applications Sequencing Rights Without Breaking Composability](http://arxiv.org/abs/2607.06144v1) by [Andrea Canidio](https://andreacanidio.com) introduces application unanimity override, a transaction ordering rule that lets applications express ordering preferences while preserving safe orders for single-opinion and gated transactions. - [Dynamic Interest Rate Discovery in Decentralized Finance: A Reverse Kelly Automated Market Maker for Risk-Adjusted Lending](http://arxiv.org/abs/2607.04178v1) by [Sai Srikanth Madugula](https://saimadugula.com/), [Peplluis Esteva de la Rosa](https://www.udg.edu/ca/directori/pagina-personal?ID=52429) and [Daya Shankar](https://arxiv.org/search/cs?searchtype=author&query=Shankar,+D) analyzes lending protocols on Ethereum and introduces _Reverse Kelly Automated Market Maker_ (rkAMM) for risk-adjusted DeFi lending with dynamic credit-risk pricing. - [Native UTXOs on Ethereum](https://ethresear.ch/t/native-utxos-on-ethereum/25368) by [Toni Wahrstätter](https://toniwahrstaetter.com) introduces a native UTXO scheme for payment-only transactions using [Frame Transactions](https://eips.ethereum.org/EIPS/eip-8141) to cut permanent state by roughly 99.8%. - [Post](https://x.com/nero_eth/status/2074064951459602473) by [Toni Wahrstätter](https://toniwahrstaetter.com) - [The Extremely Lean Chain](https://ethresear.ch/t/the-extremely-lean-chain/25369) by [Vitalik Buterin](https://vitalik.eth.limo) outlines a vision for how the Ethereum consensus chain can be redesigned to aggressively minimize state requirements, and may allow consensus to scale to millions of validators with strong validator privacy. - [Post](https://x.com/VitalikButerin/status/2074033310875975719) by [Vitalik Buterin](https://vitalik.eth.limo) - [Thread](https://x.com/tcoratger/status/2074246712483316182) by [Thomas Coratger](https://x.com/tcoratger) - [Lean Execution: a holistic approach to secure, efficient, adaptive, and resourceful execution throughput to scale the world-computer](https://ethresear.ch/t/lean-execution-a-holistic-approach-to-secure-efficient-adaptive-and-resourceful-execution-throughput-to-scale-the-world-computer/25374) by [Conall O’Reilly](https://conalloreilly.eth.limo/) analyzes [Lean Ethereum](https://leanroadmap.org/)’s execution layer and formalizes _Lean Execution_ as execution sharding with virtual mempools, execution trees, and SNARK-proven parallel sub-blocks. - [Builders’ Defection and Incentive Compatibility](https://ethresear.ch/t/builders-defection-and-incentive-compatibility/25400) by [nuconstruct](https://nuconstruct.xyz/) studies whether reputation can enforce builder commitment in repeated PBS auctions, and finds that TEEs, commitment-based settlement, or cryptographic order protection are needed to remove ex-post bid and payload reuse. # Posts & Threads - @Hasu published a [post](https://x.com/hasufl/status/2074050053518283170) outlining why falling Ethereum priority fees should be expected as apps upstream MEV through better transaction ordering and execution. - [djosiris.eth](https://x.com/OsirisDjed) published a [thread](https://x.com/OsirisDjed/status/2073102288437260618) detailing [World Chain v2.4.0](https://github.com/worldcoin/world-chain/releases/tag/v2.4.0) with Full Block Access Lists; an out-of-protocol sidecar to [Flashblocks](https://github.com/flashbots/rollup-boost/blob/main/specs/flashblocks.md) that enables parallel pre-processing of full blocks, lowering hardware requirements for validators, and improving decentralization. - [IC3](https://ic3research.org/) published a [post](https://x.com/initc3org/status/2073047878113878233) describing _Router_ by @socrates1024, as one of the projects in [Shape Rotator](https://shaperotator.xyz/), building on a shared memory layer for teams working with Claude and other MCP-enabled agents - [Vitalik Buterin](https://vitalik.eth.limo) published a [post](https://x.com/VitalikButerin/status/2073459000398463446) sharing takeaways from the updated [L1 Strawmap](https://strawmap.org/) by [EF protocol](https://protocol.ethereum.foundation/), which details a multi-year protocol redesign centered on recursive STARKs, quantum-safe primitives, decoupled finality, and multidimensional gas. - [Post](https://x.com/barnabemonnot/status/2073708226701328474) by [Barnabé Monnot](https://x.com/barnabemonnot) - [Post](https://x.com/nero_eth/status/2073469309293150245) by [Toni Wahrstätter](https://toniwahrstaetter.com) # Talks & Discussions - [Recordings](https://youtube.com/playlist?list=PLOviW1W1qYVs&si=0t3yn6bux7eWe3sP) from [ETHConf](https://ethconf.com/) hosted by [ETHGlobal](https://ethglobal.com/) have been uploaded: - [Ethereum in the Decade of Adoption](https://youtu.be/btHxzcOjBtM?si=0NQFY12xjA7-LuES) by [Ansgar Dietrichs](https://x.com/adietrichs) - [A Reasonably Necessary World Computer](https://youtu.be/mvak0N1-xyU?si=aA3b5ruTg03Sh5wA) by [Tim Beiko](https://x.com/TimBeiko) - [Fireside Chat](https://youtu.be/_P5hEY5BjnE?si=d8B4l27IRlTsQJhx) with [Hayden Adams](https://x.com/haydenzadams) and [Camila Russo](https://www.camirusso.com/) - [Crypto x AI, AI x Crypto A Survey](https://youtu.be/rvpy605gcWw?si=g2Ul1zsWDZDO6O2D) by [Ari Juels](https://www.arijuels.com/) - [Tracking Ethereum Like an Insider](https://youtu.be/zC-tAO0CHak?si=P3Dx4338I7_fa0tD) by [Christine D. Kim](https://x.com/christine_dkim) - [Zero Knowledge Podcast](https://zeroknowledge.fm/): [Sergey Gorbunov on TEEs and the Arc Privacy Sector](https://www.youtube.com/watch?v=wC_4uEuE0Jo) invites [Sergey Gorbunov](https://x.com/sergey_nog) for a conversation on [Arc](https://www.arc.io/) and its approach to a TEE-based on-chain privacy. - [All Core Devs - Testing (ACDT) #86, July 6, 2026](https://www.youtube.com/watch?v=V0xn95C-Rbk) hosted by [Justin Traglia](https://x.com/JustinTraglia) covered Glamsterdam devnet updates, specification changes, and client implementations. - [Agenda](https://github.com/ethereum/pm/issues/2144) by [Justin Traglia](https://x.com/JustinTraglia) - [ACDT (EL Breakout)](https://www.youtube.com/watch?v=rltq5KeS7ns) - [Fast Confirmation Rule (FCR) #10, July 7, 2026](https://www.youtube.com/watch?v=lbX6toJ-rCc) hosted by [Will Corcoran](https://x.com/corcoranwill) covered specification updates, client implementations, and testing of [Fast Confirmation Rule](https://fastconfirm.it/). - [Agenda](https://github.com/ethereum/pm/issues/2136) by [Mikhail Kalinin](https://x.com/mkalinin2) # Other - [Ethlabs is online. Week 2.](https://x.com/barnabemonnot/status/2073691519492489354) by [Barnabé Monnot](https://x.com/barnabemonnot) details [Ethlabs](https://ethlabs.org/)’ second week, focused on async interop, propAMMs, ENS, hiring, and closing its fundraise. * * * ✉ [**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)