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.
See our Transparency Reports for deeper dives into updates related to Flashbots.
Papers & Articles
- Exploring paths to a decentralized, censorship-resistant, and non-predatory MEV Ecosystem by Alex Watts analyzes the game theory of FastLane on Polygon and explores how the same concepts could be combined with a new style of ePBS on Ethereum.
- The Influence of CeFi-DeFi Arbitrage on Order-Flow Auction Bid Profiles by Data Always dives into the rise of integrated searcher-builders, their win rate in OFAs, and the potential impact of MEV-burn.
- Searcherbuilder.pics: an Open-Source Dashboard on Searcher-Builder Relationship & Searcher Dominance by winnster presents the methodology behind searcherbuilder.pics and shares findings from a recent two-week period.
- Dynamic Fee Solutions for AMMs by Neel Daftary delves into how dynamic fees could enhance the profitability of LPs by mitigating the negative effects of LVR and impermanent loss.
- Eyes and Orders: On Crypto Front-ends by Trace explore the role of front-ends in the transaction supply chain and possible ways for them to monetize through PFOF and OFAs.
Posts & threads
- SaharAP announced the completion of FRP-25: Quantifying Fairness Granularity For First-Come-First-Serve (FCFS) Chains with a summary of the research before the publication of their paper.
- YannickCrypto published a thread detailing how they managed to save 66 ETH from an attack on an arbitrage bot.
- Shea Ketsdever announced improvements to the UX that activates Flashbots Protect fast mode.
- Ballsyalchemist published a post that provides an overview of the proposals submitted from the Aztec community for a decentralized prover coordination mechanism.
- Danning Sui published a post to highlight the sharp decrease in the amount of empty blocks as a result of the Merge and MEV-Boost.
- Chris Powers published a thread summarizing their latest post; Will MEV mitigation destroy on-chain liquidity?
- bloXroute Labs published a thread on relay incentivization as a reply to The Pursuit of Relay Incentivization by Ballsyalchemist.
- OisĂn Kyne announced the first block sourced from MEV-Boost and proposed by a distributed validator on mainnet.
Talks & Discussions
- Archetype: Shea Ketsdever of Flashbots: The MEV Supply Chain invites Shea Ketsdever for a deep dive into the MEV supply chain, SUAVE, OFAs, and the future of programmable privacy.
- Uniswap Labs: Research Hours: Research Deep Think hosted by Xin Wan invites Danning Sui, Raffi Sapire, Tarun Chitra and Ariah Klages-Mundt to discuss DeFi, stablecoins and tldresear.ch.
- CBER Forum: Scaling Ethereum: Rollup Economics by Barnabé Monnot gives an overview of the economics associated with rollups, as well as data availability, censorship resistance and MEV.
- Scraping Bits:
- Rollup Block Production MEV And Isolated Lending w/ Cog invites ControlCplusControlV to talk about MEV, DeFi and L2s.
- From Military To Web3 Whitehat: Strategies For Bug Hunting invites riptide to discuss how to succeed as a whitehat with bug hunting and auditing.
- The Machine Room Ep.1 ft Chorus One, SenseiNode & NodeSet hosted by StakeWise invites Chorus One, NodeSet and SenseiNode to discuss their staking operations, MEV-Boost, geographic decentralization, LSTs and more.
Other
- Ethereum Mempool Dashboard by Toni Wahrstätter provides insights into Ethereum’s mempool, exclusive orderflow, and the actors involved.
- MEV Sandwich Trades by hildobby showcases metrics for single-block sandwiches across DEXes.
- Allow honest validators to reorg late blocks by Michael Sproul has been added to the Ethereum consensus spec and allows validators to purposefully reorg the last block if they saw that it was published late.
- Bid adjustment by Niclas Blomberg is an experimental feature for the ultra sound relay that adjusts the bid to the second highest and capture the difference.
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