# The MEV Letter #147 **URL:** https://collective.flashbots.net/t/the-mev-letter-147/5838 **Category:** The Flashbots Ship **Tags:** the-mev-letter **Created:** [July 15, 2026, 9:53pm UTC](https://collective.flashbots.net/t/the-mev-letter-147/5838 "2026-07-15T21:53:51Z") **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 15, 2026, 9:53pm UTC](https://collective.flashbots.net/t/the-mev-letter-147/5838/1 "2026-07-15T21:53:51Z")
_ **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 - [From PBS to ePBS: the Microstructure of Block Building](http://arxiv.org/abs/2607.11240v1) by [Jingyu Liu](https://arxiv.org/search/cs?searchtype=author&query=Liu,+J), [Bolin Zhang](https://arxiv.org/search/cs?searchtype=author&query=Zhang,+B), [Lin William Cong](https://arxiv.org/search/cs?searchtype=author&query=Cong,+L+W), [Siguang Li](https://arxiv.org/search/cs?searchtype=author&query=Li,+S), and [Xuechao Wang](https://arxiv.org/search/cs?searchtype=author&query=Wang,+X) describes how proposers under [ePBS](https://eips.ethereum.org/EIPS/eip-7732) can use early bids to intensify later competition, leading builders to hide or lower those bids, and proposes a TEE sidecar that lets proposers commit in advance to stopping and disclosure rules. - [How ePBS Resolves Payload Ambiguity](https://terencechain.com/writing/how-epbs-resolves-payload-ambiguity/?x=2) by [Terence Tsao](https://x.com/terencechain) details how [ePBS](https://eips.ethereum.org/EIPS/eip-7732) resolves payload ambiguity with a sampled committee vote to distinguish timely from late payloads. - [Post](https://x.com/terencechain/status/2076684900611272756) by [Terence Tsao](https://x.com/terencechain) - [What Institutions Should Know About Blockspace](https://x.com/kubimensah/status/2077388130676584829) by [Kubi Mensah](https://x.com/kubimensah) discusses institutional concerns around MEV, and argues that private mempools, encrypted flow, and TEE-based routing already address them. - [Post](https://x.com/titanbuilderxyz/status/2077388596579873129) by [Titan Builder](https://www.titanbuilder.xyz/) - [Time Is Money: Incentivized Causal Transaction Ordering](http://arxiv.org/abs/2607.11496v1) by [Hongyin Chen](https://chenhongyin.com/), [Xu Zheng](https://www.linkedin.com/in/xu-zheng-199473321), [Jichen Li](https://theory.cs.tsinghua.edu.cn/author/jichen-li-%E6%9D%8E%E6%B5%8E%E5%AE%B8/), and [Ittay Eyal](https://ittayeyal.github.io/) evaluates when a power-weighted randomized transaction-ordering rule can deter front-running without incentivizing spam. - [Settlement Manipulation in Prediction Markets](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=7028398) by [David Dai](http://linkedin.com/in/david-dai-8b7a8316b), [Ruizhe Jia](https://x.com/RuizheJia), and [Shihao Yu](https://www.shihaoyu.org/) examines incentives to manipulate ultra-short, oracle-settled prediction markets, where traders may move the underlying price to influence the outcome. - [Thread](https://x.com/RuizheJia/status/2074615729333374981) by [Ruizhe Jia](https://x.com/RuizheJia) - [Crypto on the Clock](https://x.com/0xallyzach/status/2074854347788226590) by [Ally Zach](https://x.com/0xallyzach) and [Danning Sui](https://twitter.com/sui414) studies the microstructure of short-duration crypto prediction markets, including venue differences, bot-like trading concentration, market economics, and wallet retention. - [Thread](https://x.com/0xallyzach/status/2074501557023031435) by [Ally Zach](https://x.com/0xallyzach) - [Thread](https://x.com/sui414/status/2074650268927742307) by [Danning Su](https://x.com/sui414) - [Crossroads: A Smart Contract Layer for Chain-Abstracted Assets](https://arxiv.org/abs/2607.06525) by [James Austgen](https://www.cs.cornell.edu/~james/), [Dani Vilardell](https://x.com/danivilardell77), and [Ari Juels](https://arijuels.com/) introduces a permissionless chain abstraction layer for cross-chain assets via ERC-20 representations on a unified backend. - [Thread](https://x.com/initc3org/status/2074906837795693009) by [IC3](https://ic3research.org/) - [Thread](https://x.com/AriJuels/status/2075570015395303445) by [Ari Juels](https://arijuels.com/) - [Upgrading Finality 2: What the Ecosystem Told Us](https://consensus.ethereum.foundation/blog/upgrading-finality-edition-2) by [Ben Edgington](https://benjaminion.xyz/) evaluates the benefits and trade-offs of sub-minute Ethereum finality for bridges, L2s, solvers, and other finality-dependent systems. - [Post](https://x.com/benjaminion_xyz/status/2077074289258381722) by [Ben Edgington](https://benjaminion.xyz/) - [Sybil Attacks on Auction Based Inclusion Lists (AUCIL)](https://functor.network/user/3197/entry/1845) by [Abhimanyu Nag](https://x.com/AbhiMan1601) examines Sybil vulnerabilities in [AUCIL](https://ethresear.ch/t/aucil-an-auction-based-inclusion-list-design-for-enhanced-censorship-resistance-on-ethereum/20422)’s transaction-allocation mechanism, and outlines possible stake-based mitigations. - [Forum Post](https://ethresear.ch/t/sybil-attacks-on-aucil/25447) by [Abhimanyu Nag](https://x.com/AbhiMan1601) - [Thread](https://x.com/AbhiMan1601/status/2076539377115906290) by[Abhimanyu Nag](https://x.com/AbhiMan1601) - [How $1.94M turned into $14k but didn’t need to. A story of routing on Ethereum.](https://x.com/haikane/status/2075308612587520182) by[Markus Schmitt](https://x.com/haikane) reconstructs an oversized swap routed through shallow pools and compares it with simulated single- and split-route alternatives that produced better results. # Posts & Threads - [Thomas Coratger](https://x.com/tcoratger) published a [thread](https://x.com/tcoratger/status/2076916325507551620) summarizing [_Native UTXOs on Ethereum_](https://ethresear.ch/t/native-utxos-on-ethereum/25368) by [Toni Wahrstätter](https://toniwahrstaetter.com/), which proposes a UTXO-based transfer scheme using [Frame Transactions](https://eips.ethereum.org/EIPS/eip-8141) to reduce permanent state by roughly 99.8%. - [Terence Tsao](https://x.com/terencechain) published a [post](https://x.com/terencechain/status/2077070487981855053) announcing that [Glamsterdam devnet-7](https://notes.ethereum.org/@ethpandaops/glamsterdam-devnet-7) is now live with [EIP-7688](https://eips.ethereum.org/EIPS/eip-7688) progressive containers, updated payload deadlines and builder lifecycle parameters, and more. # Talks & Discussions - [All Core Devs - Consensus (ACDC) #182, July 9 2026](https://www.youtube.com/watch?v=4ozETcRpVkY) hosted by [parithosh](https://x.com/parithosh_j) discussed Glamsterdam devnets, [ePBS](https://eips.ethereum.org/EIPS/eip-7732) circuit breakers, Hegotá non-headliners, and more. - [Agenda](https://github.com/ethereum/pm/issues/2152) by [parithosh](https://x.com/parithosh_j) - [All Core Devs - Testing (ACDT) #87, July 13, 2026](https://www.youtube.com/watch?v=5qQ8M_1_j6g) hosted by [Mario Vega](https://x.com/elbuenmayini) covered updates on Glamsterdam devnets, and [EIP-8037](https://eips.ethereum.org/EIPS/eip-8037) spec changes. - [Agenda](https://github.com/ethereum/pm/issues/2151) by [Mario Vega](https://x.com/elbuenmayini) - [ACDT #87 (CL Breakout)](https://www.youtube.com/watch?v=fT0rPrDS3gE) # Other - [PropAMMRouter](https://github.com/lambdaclass/propamm-router-contracts/?ref=blog.lambdaclass.com) by [LambdaClass](https://lambdaclass.com/) is a single-hop router that executes swaps against PropAMMs on Ethereum and falls back to Uniswap V3 when the chosen proprietary venue is not able to fill the swap. - [Post](https://blog.lambdaclass.com/propamms-pushing-ethereum-to-the-next-level-of-finance/) by [LambdaClass](https://lambdaclass.com/) - [Thread](https://x.com/class_lambda/status/2077122691602292750) by [LambdaClass](https://lambdaclass.com/) - [Ethlabs is online. Week 3.](https://x.com/barnabemonnot/status/2076353866690617406) by[Barnabé Monnot](https://x.com/barnabemonnot) details [Ethlabs](https://ethlabs.org/)’ third week, focused on hiring, interop, making Ethereum faster, and closing its fundraise. - [The triage is the product: running AI agents against Ethereum’s protocol code](https://blog.ethereum.org/2026/07/09/triage-is-the-product) by [Nikos Baxevanis](https://nikosbaxevanis.com/) presents a coordinated workflow for AI agents to find and triage bugs in Ethereum clients. * * * ✉ [**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)