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
- Liquefaction: Privately Liquefying Blockchain Assets by James Austgen, Andrés Fábrega, Mahimna Kelkar, Dani Vilardell, Sarah Allen, Kushal Babel, Jay Yu, and Ari Juels presents a TEE-based wallet platform to encumber private keys, enabling assets of a single end-user address to be freely rented, shared, or pooled.
- Migrating to BuilderNet by Shea Ketsdever announces that Flashbots has deprecated our centralized block builders and migrated orderflow and refunds to BuilderNet.
- Redistributing LVR to AMM LPs with dynamic fees and first-access auctions: empirical analysis by Juuso Ahlroos and Antero Eloranta analyzes ways for LPs on AMMs to capture LVR through dynamic fee structures and first-access auctions.
- Same-Slot L1→L2 Message Passing by Lin Oshitani, Conor McMenamin, Anshu Jalan, and Ahmad Bitar introduces a protocol for enabling same-slot message passing from L1 to L2, allowing users to atomically execute composable cross-chain transactions.
- Post by Lin Oshitani
- Modularizing Dstack: SDKs and Default Patterns for Creating P2P CVM Clusters by Tommaso De Ponti details how rs-modular-dstack is designed to provide developers with standardized building blocks for creating replicable CVMs with Flashbox and Dstack.
- On Increasing the Block Gas Limit: Technical Considerations & Path Forward by Toni Wahrstätter, Marek Moraczyński, parithosh, Jacek Sieka, Paul Hauner, Tim Beiko, and Alex Stokes argues for a cautious, data-driven approach to increasing Ethereum’s gas limit, and waiting for Pectra in order to make more informed decisions.
- Post by Toni Wahrstätter
- Post by Alex Stokes
- Post by parithosh
- The Opinionated Application by rain & coffee details how application-specific rollups, sequencing mechanisms, and infrastructure customization enables dapps to optimize transaction ordering and MEV internalization.
- AppChains, RaaS, and the Future of DeFi - Insights from DevCon Bangkok by Krzysztof Gogol discusses appchains and their benefits, limitations, and impact on composability.
Posts & Threads
- dmarz published a thread highlighting the recent wave developments by Flashbots including BuilderNet, Rollup-Boost, Searching in TDX, Dstack, Teleport, and more.
- Robert Miller published a thread detailing the latest batch of refunds paid from BuilderNet, with one user being refunded 22 ETH.
- PBS Foundation published a thread summarizing proposals, discussions and other resources related to ePBS.
- Sxymoon published a thread celebrating the winners from the SF TEE Acceleration Hackerhouse.
- Alex Nezlobin published a thread highlighting how a searcher profited ~$60K on the ETH/USDC pair on Base via concentrated JIT liquidity.
- Anu published a thread sharing summaries from talks at Devcon SEA related to MEV, PBS, and censorship resistance.
Talks & Discussions
- TEE.salon @Bangkok:
- Trustless Hosting with TEEs by Patrick Kearney
- TEE Build System by Davie
- Searching in TDX: to BoB and Beyond by Frieder Erdmann and 0xprincess
- Reproducible builds for Nitro Enclaves by Roshan Raghupathy
- Ledger: A Case Study by Charles Guillemet
- Satellite Compute Fleet as Distributed Trusted Hardware by Daniel Bar and yangwao
- Javacard/ Smartcard based TEE by Marcus Hearn
- Building the trustless trade supply chain with TEEs by Markus Schmitt
- Dedicated TPM-based System with WASM signing verification vs. TEEs by Will Villanueva
- TEE Abstraction Middleware by Alex GG
- Shared Private State on Aztec by Rahul Kothari
- Last-mile TEE use cases for Penumbra by Henry de Valence
- Physical Unclonable Functions for Socially Unpredictable Humans by Sxysun
- 5 Levels of TEEs by Georgios Konstantopoulos
- Old TEE Tales: A not-so-in-depth exploration of TEE platforms and its designs by Zheng Leong Chua
- TEE perspectives: Where you run your TEEs matters by Frieder Erdmann
- Bringing TEE magic to web2 and web3 by Andrew Miller
- Panel: TEE for Block Building & Preconfs with dmarz, Nathan Worsley, Ellie Davidson, Kevin Lepsoe, and kassandraETH
- Secure Hardware: From Sand To Stone by Quintus Kilbourn
- Ethereum & Silicon with Quintus Kilbourn, Vitalik Buterin, Charles Guillemet, Robert Drost, and Michael Gao
- Towards Verifiable Fab with Robert Drost and Michael Gao
- Forum post by T.I.N.A
- Sequencing Day hosted by Puffer Finance, Espresso Systems, and Radius:
- Sequencing escape velocity by Justin Drake
- Leading to profitable block building for rollups by AJ Park
- L1 Composability in Gwyneth by Cecilia Zhang
- Sidecar standardization with Commit-Boost by Drew Van Der Werff
- Synchronous Composability with CIRC by Ellie Davidson
- Learnings From Building The Universal Preconf Registry by Jason Vranek
- How to Make Application Specific Sequencing Composable by Lily Johnson
- Superchain Interop - How do we scale blockchain apps to billions of users? by Mark Tyneway
- Network Effects: Why Based Sequencing is Important by mteam
- Open based sequencing protocol by Sam Battenally
- Sequencing with TEEs by Shea Ketsdever
- Panel: Sequencing Day Surprise Panel with Justin Drake, Ben Fisch, Amir Forouzani, and AJ Park
- Panel: The Great Priority Auction Debate with Ben Fisch, Ed Felten, Dan Robinson, and Alex Nezlobin
- Based vs Restaked Rollups by Yaoqi Jia
- Shared Solvers: Rise of Dapp owned solvers by Anshul Yadav
- Economic Optimality of Offering Preconfs by Conor McMenamin
- No one cares about finality by Elias Tazartes
- How Preconfs & Blockspace Products Make Ethereum Relevant by Kevin Lepsoe
- Supercharging Ethereum w/ Fast Preconfs & Decentralized Yield Distribution by Kubi Mensah and Lorenzo
- Tradeoffs with app-specific sequencing by Marshall Vyletel
- Braid by Max Resnick
- Are L2s extractive to Ethereum? by Ren
- To Delay or Not Delay Preconfs by Rohan Shrouthrium
- Leveraging Pod to Decentralize Block Sequencing by Shresth Agrawal
- CBER Crafting the Cryptoeconomy Conference:
- Additional recordings from preconf.erence hosted by Primev, Nethermind, Taiko Gwyneth, and Puffer Finance:
- Preconfs on Mainnet with Murat Akdeniz, Christian Matt, and Kubi Mensah
- Preconfirmations in Taiko Gwyneth by Brecht Devos
- Exploring Based Preconfirmations Without Gateways by Lin Oshitani
- Panel: Preconfirmations from a Validator’s Perspective with Drew Harding, Joshua Cheong, Michael Moser, Drew Van der Werff, Irina Timchenko, and Darren Langley
- Thread by Primev
- Into the Bytecode: Quintus Kilbourn on TEEs and Secure Hardware invites Quintus Kilbourn for a conversation on the history, architecture, and roadmap for building TEEs with open-source hardware and supply chains.
- How to solve builder centralization crisis w/o using napkin research? hosted by EigenPhi invites Stephen Levin, Ludwig Thouvenin, Murat Akdeniz, Fan Zhang, Eyal Markovich, Burak Öz, Auston Sterling, and Bryan Zheng to discuss the centralization in the builder market, and possible ways to improve decentralization.
- The Rollup:
- Max Resnick on Ethereum’s Roadmap, Economics, and Alignment Taxes invites Max Resnick to discuss the Ethereum roadmap, sequencing, interopability, and more.
- Post by The Rollup
- How Fast Confirmations Will Improve Rollup UX invites Ben Fisch and Matt Pearing for a conversation on interoperability, decentralized sequencing, and Espresso’s fast confirmation layer.
- Post by The Rollup
- Ed Felten on Arbitrum DAO, Timeboost, and His Newest Research invites Ed Felten to dive into the latest related to Arbitrum, BoLD, Timeboost, and more.
- Post by The Rollup
- Max Resnick on Ethereum’s Roadmap, Economics, and Alignment Taxes invites Max Resnick to discuss the Ethereum roadmap, sequencing, interopability, and more.
- The Gwart Show:
- TOOL, Or How To Get 1 Second Confs On Ethereum invites 0xprincess to talk about searching, block building, orderflow, TEEs, and TOOL.
- Beam Me Up! invites Justin Drake to discuss the Beam Chain proposal, censorship resistance, APS, based rollups, and more.
- Bankless: Ethereum’s Three Front War Invites Justin Drake for a conversation on Ethereum’s roadmap, the rollup design space, preconfirmations, and the Beam Chain proposal.
- Bell Curve: Scaling Ethereum With Based Rollups invites mteam to talk about the current state of the rollup-centric roadmap and how things might evolve with based rollups.
- Post by Bell Curve
- Distributed Block Building Call #1 hosted by Francesco discuss Sharded blob mempool and distributed block production by Dankrad Feist, and PeerDAS L1 R&D breakout notes by Francesco.
Other
- turn the dial to freedom by Phil Daian advocates for reclaiming control of technology by adopting open-source and user-controlled software.
- Thread by Phil Daian
- How should I adress a TEE? by Mateusz Morusiewicz discusses challenges and approaches for securely interacting with TEE web services.
- Mev-boost community call #11 - 10 Dec 2024 by Alex Stokes invites the MEV-Boost community to discuss recent events and developments such as the Titan Relay incident, BuilderNet, preconfirmations, and more.
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