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
- Priority Is All You Need by Dan Robinson and Dave White introduces MEV taxes as a mechanism that applications can use to capture their own MEV.
- Thread by Dan Robinson
- Post by Dave White
- TEE engineering Part 1: Cloud Attestations - Advantages, Shortcomings, Solutions by Frieder Erdmann discusses the use of cloud attestations with TEEs and the associated trust models with cloud providers.
- On block-space distribution mechanisms by Mike Neuder, Pranav Garimidi and Tim Roughgarden explore different block-space distribution mechanisms and highlight their impact on validator rewards, decentralization, and MEV.
- The Preconfirmation Sauna by Conor McMenamin introduces Switchboard and presents the preconfirmation sauna as a credibly neutral platform to standardize preconfirmations.
- The contention between preconfs and ePBS by Potuz outlines the compatibility of ePBS with proposed mechanisms for preconfirmations.
- Un-confirming “Pre-confirmations” by Elijah explores the shortcomings of preconfirmations as a solution for Ethereum’s latency problems.
- Based Sequencer Selection by Simon Brown suggests a deterministic sequencer selection function on L1 that can be used by rollups to facilitate universal synchronous composability between L2s.
- Censorship Resistance Through Game Theory by Antony Denyer argues that relays should divulge more metadata about the block so that validators can make more informed decisions that align with their preferences.
- Taxonomy of transaction sequencing mechanisms 2.0 by Dias provides an overview of sequencing mechanisms and their effect on transaction execution fairness.
- Is it worth using MEV-Boost? by Toni Wahrstätter quantifies the increased revenue proposers receive by outsourcing their block production via MEV-Boost compared to local block building.
Posts & Threads
- Terence Tsao published a post asking builders and searchers for feedback on ePBS design related to the time required to build blocks.
- Reply by Robert Miller
- Reply by Kubi Mensah
- Alex Nezlobin published a thread that outlines the impact of delaying a block by 100ms, and why this time period will have more MEV than the average 100ms.
- Anders Elowsson published a thread that argues for reducing issuance to reduce unnecessary costs and mitigate centralization risks associated with large LSTs.
- OneBalance published a thread announcing the Fellowship of the OneBalance and the Credible Chain Abstraction Stack with the mission to bring credible accounts to Web3 and abstract away fragmentation.
Talks & Discussions
- Ethereum Sequencing and Preconfirmations Call #10 invites Drew Van der Werff and Kubi Mensah to present commit-bost as a validator platform for preconfirmations and other proposer commitments.
- Scraping Bits: Michael Moser: ChorusOne, Solana MEV Validator, Ethereum PBS Timing Games, Orderbook MEV invites Michael Moser for a discussion on PBS, timing games, MEV mitigation, and ChorusOne’s latest research.
Other
- Block Proposing and Validating Timelines for MEV-Boost, ePBS, and ePBS with MEV-Boost by Terence Tsao summarizes the timeline differences between ePBS and MEV-Boost using inequalities.
- Rollup.wtf by Conduit provides real-time performance metrics of TPS, MGas/s, and KB/s for rollups.
- Bolt V0.1.0-alpha by Chainbound, designed to allow Ethereum proposers to offer credible commitments about their block contents, is now open source.
- Thread by Chainbound
- Kurtosis, a platform for packaging and launching ephemeral backend stacks, is now open source.
Upcoming events
- June 8-22: ZuBerlin by ZuBerlin
- June 11: Flashwares iv: TEEception by Mateusz Morusiewicz
- July 8-11: EthCC by Ethereum France
- July 8: Searcher.wtf by aori, Flood, Chainbound, PropellerHeads, bloXroute Labs and Barter
- July 10: FHE Summit by FHE Onchain
- July 11: Unaligned Day by FastLane Labs
- Thread by Alex Watts
- Thread by Alex Watts
- July 11-13: Modular Summit 3.0 by Celestia Labs and Maven11
- Aug 6: The MEV Workshop at the Science of Blockchain Conference 2024 (MEV SBC ’24) by Flashbots
- Aug 7 - 9: The Science of Blockchain Conference 2024 (SBC’24) by IC3, Stanford Center for Blockchain Research and UC Berkeley RDI.
- Aug 16-17: Frontiers by Paradigm
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