# The MEV Letter #47 **URL:** https://collective.flashbots.net/t/the-mev-letter-47/3676 **Category:** The Flashbots Ship **Tags:** links, the-mev-letter **Created:** [July 16, 2024, 9:29pm UTC](https://collective.flashbots.net/t/the-mev-letter-47/3676 "2024-07-16T21:29:15Z") **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 16, 2024, 9:29pm UTC](https://collective.flashbots.net/t/the-mev-letter-47/3676/1 "2024-07-16T21:29:15Z")
_ **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 - [Searcher Competition in Block Building](https://arxiv.org/pdf/2407.07474) by [Akaki Mamageishvili,](http://mamageishvili.info/) [Christoph Schlegel](https://christophschlegel.com/), [Benny Sudakov](https://people.math.ethz.ch/~sudakovb/), and [Danning Sui](https://x.com/sui414) study the amount of MEV captured by validators as a function of searcher competition in blockchains with competitive block-building markets, such as Ethereum. - [Forum post](https://ethresear.ch/t/searcher-competition-in-block-building/20044) by [Akaki Mamageishvili](https://x.com/kakia1989) - [Thread](https://x.com/kakia1989/status/1811359432879575249) by [Akaki Mamageishvili](https://x.com/kakia1989) - [Flashbots report: System requirements, existing and new solutions, and their efficiency.](https://www.commonprefix.com/static/clients/flashbots/flashbots_report.pdf) by [Orestis Alpos](https://x.com/orestisalpos), [Bernardo David](https://www.bmdavid.com/), [Nikolas Kamarinakis](https://kama.tech/) and [Dionysis Zindros](https://dionyziz.com/) reviews the limitations of existing consensus and consensus-less protocols and presents new constructions to improve censorship-resistance and efficiency. - [Forum post](https://collective.flashbots.net/t/are-existing-consensus-protocols-censorship-resistant-or-do-we-need-a-new-one-a-report-from-common-prefix/3666) by [Orestis Alpos](https://x.com/orestisalpos) - [Introducing Gas Fee Refunds on Flashbots Protect and builder](https://collective.flashbots.net/t/introducing-gas-fee-refunds-on-flashbots-protect-and-builder/3668) by @Fred announces that [Gas Fee Refunds](https://docs.flashbots.net/flashbots-protect/gas-fee-refunds) is live for all transactions sent through Flashbots Protect and Flashbots builder, with an [open source](https://docs.flashbots.net/flashbots-auction/advanced/gas-fee-refunds#how-are-refunds-calculated) refund rule executed securely in TEEs. - [Thread](https://x.com/SheaKetsdever/status/1810680518360314190) by @shea - [Account Abstraction Leveraging TEE](https://collective.flashbots.net/t/account-abstraction-leveraging-tee/3670) by [Marcos Carlomagno](https://www.linkedin.com/in/marcos-carlomagno/) outlines an MVP for implementing account abstraction using email and password credentials via SUAVE. - [EVIntent - Darkmatter in MEV](https://www.propellerheads.xyz/blog/ev-intent) by [PropellerHeads](https://www.propellerheads.xyz) details how searchers can extract MEV from intents, and possible ways to mitigate these risks. - [Thread](https://x.com/propellerswap/status/1810991662811824442) by [PropellerHeads](https://www.propellerheads.xyz/) - [Publicly Broadcasting Min-Bid](https://mirror.xyz/0x03c29504CEcCa30B93FF5774183a1358D41fbeB1/8aCbi_a-Gh5DWnkJWstm8zA5fvtoQB-QR5we7C8XC90) by[Julian Ma](https://x.com/_julianma) examines how the `min-bid` parameter in MEV-Boost affects block building and suggests that making the parameter public could enhance both revenue and efficiency. - [Thread](https://x.com/_julianma/status/1812877101500092672) by [Julian Ma](https://x.com/_julianma) - [Supplementing Censorship Resistance Today](https://hackmd.io/@dataalways/censorship-resistance-today) by [Data Always](https://x.com/Data_Always) analyzes the strengths and weaknesses of `min-bid` and `localBlockValueBoost` to improve censorship resistance. - [Sealed execution auction](https://ethresear.ch/t/sealed-execution-auction/20060) by [Anders Elowsson](https://x.com/weboftrees) outlines a mechanism that uses a Vickrey slot auction in two rounds to select the next execution proposer. - [Thread](https://x.com/weboftrees/status/1812182201447948333) by [Anders Elowsson](https://x.com/weboftrees) - [Unbundling the Current State of Proposer-Builder Separation](https://info.etherscan.com/unbundling-the-current-state-of-pbs/) by[Teck Yuan Lee](https://www.linkedin.com/in/teck-yuan-lee/) describes how approximately 90% of Ethereum blocks are built by 4 builders and the implications on censorship resistance and network security. - [Staking Rights Auctions](https://ethresear.ch/t/staking-rights-auctions/20059) by[Pedro Argento](https://x.com/PedroArgento8) details a mechanism aimed to limit issuance, allow proposers to express economic preferences, and achieve targeted participation rates. - [mev-commit release!](https://x.com/primev_xyz/status/1813264680724668905) by[Primev](https://primev.xyz/) announces the release of[mev-commit](https://github.com/primev/mev-commit), enabling actors in the MEV supply chain to issue real-time credible commitments, such as preconfirmations. - [Introducing 0x’s next-gen pricing engine](https://0x.org/post/introducing-0x-v2-pricing-engine?utm_source=social&utm_medium=tw&utm_campaign=v2) presents[0x v2](https://v2.0x.org/) as their new pricing engine with improved routing, better trade execution, and new monetization controls. - [Thread](https://x.com/0xproject/status/1812896660189815065) by[0x](https://x.com/0xProject) - [Thread](https://x.com/matchaxyz/status/1812898367422492756) by [Matcha](https://matcha.xyz/) - [Express Relay: Priority Auctions for Efficient DeFi Markets](https://pyth.network/blog/express-relay-priority-auctions) by [Pyth Network](https://pyth.network) introduces [Express Relay](https://docs.pyth.network/express-relay?ref=pyth-network.ghost.io) as a way for searchers to bid on lucrative operations, like liquidations, directly with DeFi protocols. - [Thread](https://x.com/PythNetwork/status/1811362199350513993) by [Pyth Network](https://pyth.network/) - [The First Beta Release of the Shutterized Gnosis Chain Is Now Live!](https://blog.shutter.network/shutterized-gnosis-chain-is-now-live/) by [Shutter](https://shutter.network/) announces that their threshold encrypted mempool is live on Gnosis Chain. - [Thread](https://x.com/shutternetwork/status/1811376494460961215) by [Shutter](https://shutter.network/) - [Staking: Risks & Rewards](https://www.galaxy.com/insights/research/the-risks-and-rewards-of-staking/) by [Christine Kim](https://x.com/christine_dkim) provides an overview of risks, rewards, and future trends related to staking on Ethereum. - [Thread](https://x.com/christine_dkim/status/1813217442060963925) by[Christine Kim](https://x.com/christine_dkim) # Posts & Threads - [Justin Drake](https://twitter.com/drakefjustin) published a [post](https://x.com/drakefjustin/status/1812013179678990743) to announce that based preconfirmations are live on the Helder testnet. - [Terence Tsao](https://terencecha.in/) published a [thread](https://x.com/terencechain/status/1811657817905930672) that explores [Ed Felten](https://x.com/edfelten)’s presentation at [Sequencing x CAKE day](https://lu.ma/sequence-cake-ethcc) on [Timeboost](https://github.com/OffchainLabs/timeboost-design) and decentralized sequencing. - [Four Pillars](https://twitter.com/FourPillarsFP) published a[post](https://twitter.com/FourPillarsFP/status/1811685747902308581) describing how the capture of OEV through[Oval](https://uma.xyz/oval) is transforming the way dapps are able to generate revenue. # Talks & Discussions - [EthCC](https://ethcc.io/) by[Ethereum France](https://x.com/Ethereum_France): - [Decentralized Block Building](https://ethcc.io/archive/Decentralized-Block-Building) by @shea - [Mitigating MEV with FHE - Blind Arbitrage on Ethereum](https://ethcc.io/archive/Mitigating-MEV-with-FHE-Blind-Arbitrage-on-Ethereum) by @jonathan - [Ethereum: Reducing Trust Between Proposers and Builders](https://ethcc.io/archive/Ethereum-Reducing-Trust-Between-Proposers-and-Builders) by [Terence Tsao](https://terencecha.in/) - [Splitting the block](https://ethcc.io/archive/Splitting-the-block) by [Philipp Zahn](https://x.com/philipp_m_zahn) and [Daniele Palombi](https://x.com/dpl0a) - [Don’t let your friends do MEV](https://ethcc.io/archive/Dont-let-your-friends-do-MEV) by[Marius van der Wijden](https://x.com/vdwijden) - [Cashing in on MEV: the secret edge of oracle-based AMMs](https://ethcc.io/archive/Cashing-in-on-MEV-the-secret-edge-of-oracle-based-AMMs) by [Shigami](https://x.com/Shigami_Cedar) - [The cost of artificial latency in PBS context](https://ethcc.io/archive/The-cost-of-artificial-latency-in-PBS-context) by [Michael Moser](https://x.com/mostlyblocks) - [Execution auctions](https://ethcc.io/archive/Justin-Drake) by[Justin Drake](https://x.com/drakefjustin) - [Cross roll-up arbitrage and impact of Decun on swap fees](https://ethcc.io/archive/Cross-roll-up-arbitrage-and-impact-of-Decun-on-swap-fees) by [Krzysztof Gogol](https://x.com/krzysgogol) - [MEV capturing AMM, from theory (FM-AMM) to practice (CoWAMM)](https://ethcc.io/archive/MEV-capturing-AMM-from-theory-FM-AMM-to-practice-CoWAMM) by [Andrea Canidio](https://x.com/AndreaCanidio) - [Is Ethereum’s Issuance Policy Sustainable?](https://ethcc.io/archive/Is-Ethereums-Issuance-Policy-Sustainable) by [Caspar Schwarz-Schilling](https://x.com/casparschwa) and [Ansgar Dietrichs](https://x.com/adietrichs) - [What’s the issue with issuance?](https://ethcc.io/archive/Whats-the-issue-with-issuance) by [Caspar Schwarz-Schilling](https://x.com/casparschwa),[Ansgar Dietrichs](https://x.com/adietrichs) and [Christine Kim](https://x.com/christine_dkim) - [The Espresso Shared Sequencing Marketplace](https://ethcc.io/archive/The-Espresso-Shared-Sequencing-Marketplace) by [Benedikt Bünz](https://x.com/benediktbuenz) - [Aggregation + sequencer marketplace = L2 interoperability](https://ethcc.io/archive/Aggregation-sequencer-marketplace-L2-interoperability) by [Ben Fisch](https://x.com/benafisch) - [Anoma: Ethereum’s Intent Machine](https://ethcc.io/archive/Anoma-Ethereums-Intent-Machine) by [Adrian Brink](https://x.com/adrianbrink) - [The ARM: bringing intents to Ethereum](https://ethcc.io/archive/The-ARM-bringing-intents-to-Ethereum) by [Yulia Khalniyazova](https://x.com/vveiln) - [How to decentralize Intents](https://ethcc.io/archive/How-to-decentralize-Intents) by[Mounir Benchemled](https://x.com/mounibec) - [Solving Interoperability with Intents](https://ethcc.io/archive/Solving-Interoperability-with-Intents) by [Hart Lambur](https://x.com/hal2001) - [Bridges are Shared Sequencers](https://ethcc.io/archive/Bridges-are-Shared-Sequencers) by [Nicholas Pai](https://x.com/mountainwaterpi) - [How to price your Preconfirmation](https://ethcc.io/archive/How-to-price-your-Preconfirmation) by [Murat Akdeniz](https://x.com/MuratLite) - [The Sequencer of Tomorrow](https://ethcc.io/archive/The-Sequencer-of-Tomorrow) by [Jan Gorzny](https://x.com/jgorzny) - [Developing Secure Multi-Provers with SGX](https://ethcc.io/archive/Developing-Secure-Multi-Provers-with-SGX) by[Porter Adams](https://www.linkedin.com/in/porter-adams-0127b7125/) - [Modular Summit 3.0](https://modularsummit.dev/) by[Celestia Labs](https://celestia.org/) and[Maven11](https://www.maven11.com/) - Day 1: - [Livestream recording](https://www.youtube.com/watch?v=uBbykZgatuw) (Chisel stage) curated by[L2BEAT](https://l2beat.com/) explored data availability, execution environments, and applications in the modular ecosystem. - [Livestream recording](https://www.youtube.com/watch?v=IvgfL_q2jdI) (Canvas stage) - Day 2: - [Livestream recording](https://www.youtube.com/live/HqJ5oicJOME?si=VqVbcJbRLA1PoTJF) (Chisel stage): [Metagame.day](https://collective.flashbots.net/t/metagame-day-modular-summit-3-0-jul-12-2024/3664) curated by[Flashbots](https://www.flashbots.net/) with talks on application design, protocol research, MEV, TEEs, and more. - [Agenda](https://collective.flashbots.net/t/metagame-day-modular-summit-3-0-jul-12-2024/3664) with slides by @Tina - [Livestream recording](https://www.youtube.com/watch?v=EJi2i-WqaT0) (Canvas stage) - Day 3: - [Livestream recording](https://www.youtube.com/watch?v=uBbykZgatuw) (Chisel stage) curated by[Blockworks](https://blockworks.co/) and[ZKV](https://x.com/zkv_xyz) with a focus on modular expansion. - [Livestream recording](https://www.youtube.com/watch?v=IvgfL_q2jdI) (Canvas stage) - [Recordings](https://www.youtube.com/@anoma/videos) from[Intents Discussions](https://anoma.net/events/intents-discussions-2024) by[Anoma](http://anoma.net/) have been uploaded with discussions on topics related to intents and solvers. - [The Defiant](https://twitter.com/DefiantNews):[Now You See Me, Now You Don’t: Onchain Privacy](https://www.youtube.com/watch?v=afGgCXDKGFg) invites[Andrew Miller](https://soc1024.com/),[Joe Andrews](https://x.com/jaosef), and[Harjasleen Malvai](https://jasleenmalvai.com/) for a discussion related to on-chain privacy, ZK, and TEEs. # Other - [EIP-7727: EVM Transaction Bundles](https://eips.ethereum.org/EIPS/eip-7727) by [Lily](https://x.com/lobstermindset) presents a design to enable meta transactions to order other transactions without revert protections. - [Blockspace and Execution Commitments Aggregated Links](https://github.com/ryanchern/commitments-aggregated-links) by [Ryan Chern](https://www.ryanchern.com/) is a collection of resources related to blockspace and execution commitments. - [Distributed, persistent storage for suave apps](https://collective.flashbots.net/t/distributed-persistent-storage-for-suave-apps/3673) by @mateusz seeks input on solutions for medium-volume distributed and persistent storage. # Upcoming events - **July 24-30** : [EDCON 2024](https://www.edcon.io/) by [De University of Ethereum](https://ueth.org/) - **July 28:** [Tané Summit #1](https://lu.ma/ygxylpom) by [Tané](https://tanelabs.com/) - **Aug 6** : [The MEV Workshop at the Science of Blockchain Conference 2024 (MEV SBC ’24)](https://collective.flashbots.net/t/the-mev-workshop-at-the-science-of-blockchain-conference-2024-mev-sbc-24/3527) by[Flashbots](https://www.flashbots.net/) - **Aug 7-9** : [The Science of Blockchain Conference 2024 (SBC’24)](https://www.sbc-conference.com/) by [IC3](https://www.initc3.org/), [Stanford Center for Blockchain Research](https://cbr.stanford.edu/) and [UC Berkeley RDI](https://rdi.berkeley.edu/). - **Aug 16-17** : [Frontiers](https://frontiers.paradigm.xyz/) by [Paradigm](https://www.paradigm.xyz/) - [Thread](https://x.com/gakonst/status/1797671854150402327) by [Georgios Konstantopoulos](https://x.com/gakonst) - [Agenda](https://x.com/gakonst/status/1812910181661221305) by [Georgios Konstantopoulos ](https://x.com/gakonst) * * * ✉ [**Sign up here**](https://flashbots.net/the-mev-letter) if you’d like to get The MEV Letter straight to your inbox! 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