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.
- No free lunch – a new inclusion list design by Vitalik Buterin and Mike Neuder outlines a new mechanism for inclusion lists designed to solve the free data availability problem.
- PBS Guild Proposal [v3 WIP] published by Tina, and jointly proposed by the MEV-Boost community, introduce the initial proposal for PBS Guild as “a non-commercial ecosystem R&D funding vehicle […] designed to streamline decision-making process and open to funding mechanism experimentation”.
- Rollups are Real — Rollup Economics 2.0 by Davide Crapis introduces Rollup Economics 2.0 as a framework to describe value flows in mature rollup ecosystems.
- The Cross-Domain Thesis Part 1: Setting The Stage published by Maven11 Research dives into the future of rollups, looking at EIP-4844, cross-rollup interoperability, Cosmos SDK Modules and more.
- Demystifying Intent-Driven Transactions by YQ explores the limitations of Ethereum’s current transaction model and presents how intent-driven transactions can enhance the user experience.
- Decentralize Rollup I: Decentralized Sequencing by YQ describes different ways to decentralize rollup sequencers to reduce MEV and improve their liveness guarantees, censorship resistance and interoperability.
- Disclosure: Flashbots builder included reverting transactions in blocks by Shea Ketsdever details the timeline, root cause and mitigations of the incident on August 9 where one of the Flashbots builders included reverted transactions in blocks.
- SMG published a thread highlighting the emerging trend of builders running their own searchers, outcompeting other builders by capturing top-of-block MEV through CEX-DEX arbitrage.
- Grace Deng published a thread summarizing recent proposals for shared sequencing and cross-rollup interoperability.
- 𝔏𝔲𝔨𝔢 published a thread on how the transaction supply chain of Ethereum has evolved from genesis to the complex landscape of today with PBS, OFAs, account abstraction and intents.
- Max Resnick published a thread on the current state of onchain trading, highlighting the lack of overlap between takers and makers and the importance of correcting the problem of LVR.
- Uniswap Labs published a thread on how MEV impacts users and how UniswapX is designed to help mitigate this by routing orders to fillers.
- Joshrudolf.eth published a thread on the recent progress of Verkle Trees and statelessness, intended to alleviate the problem of Ethereum’s ever-growing state size.
- MEV-Boost Community Call #5 hosted by Alex Stokes discussed specification and implementation details of the upcoming Deneb/Cancun upgrade, as well as the PBS Guild proposal.
- Recording will be posted on the Flashbots forum once available.
- LVR Reduction: The Biggest Open Problem in DeFi (Part Two) hosted by Max Resnick and Mallesh Pai with Dan Robinson and Alex Nezlobin discuss potential solutions to reduce LVR in DeFi.
- MEV Bots Analytics by Wonderland is a new dashboard that provides details on the behavior, activity and PnL of searchers on Ethereum.
- mev-share-go by duoxehyon is a client library for MEV-Share based on the MEV-Share Spec, written in Golang.
- Aug 21: MEV Roast: The threat of integrated builders & ToB market hosted by Fenbushi Capital with guests Mallesh Pai, Max Resnick, Stephane and Ankit Chiplunkar.
- Aug 31: MEV-SBC workshop aims to highlight important MEV research done in the past year and talks that will illuminate a new round of research problems the community should prioritize.
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