# The MEV Letter #70 **URL:** https://collective.flashbots.net/t/the-mev-letter-70/4600 **Category:** The Flashbots Ship **Tags:** the-mev-letter **Created:** [January 14, 2025, 11:58pm UTC](https://collective.flashbots.net/t/the-mev-letter-70/4600 "2025-01-14T23:58:33Z") **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: [January 14, 2025, 11:58pm UTC](https://collective.flashbots.net/t/the-mev-letter-70/4600/1 "2025-01-14T23:58:33Z")
_ **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 - [Forking the RANDAO: Manipulating Ethereum’s Distributed Randomness Beacon](https://eprint.iacr.org/2025/037) by [Ábel Nagy](https://www.linkedin.com/in/abel-nagy-911235144/), [János Tapolcai](http://lendulet.tmit.bme.hu/lendulet_website/?page_id=291), [István András Seres](https://istvanseres.web.elte.hu/), and [Bence Ladóczki](https://mlvl36667.github.io/) analyzes the manipulability of Ethereum’s RANDAO implementation, and introduces a strategy to selectively fork out an honest proposer’s block to maximize MEV. - [Forum post](https://ethresear.ch/t/forking-the-randao-manipulating-ethereums-distributed-randomness-beacon/21414) by [István András Seres](https://istvanseres.web.elte.hu/) - [Thread](https://x.com/Istvan_A_Seres/status/1877648087277047931) by [István András Seres](https://istvanseres.web.elte.hu/) # Posts & Threads - [Potuz](https://x.com/potuz_eth) published a [thread](https://x.com/potuz_eth/status/1877114637784584455) analyzing whether builders exclude blob transactions during periods of high congestion, finding no deviation from expected behavior. - [Alex Nezlobin](https://x.com/0x94305) published a [post](https://x.com/0x94305/status/1877104289350631550) detailing cumulative LP markouts in the ETH/USDC Uniswap-pool on Base, and the potential for JIT liquidity sandwiching. - [Middleway.eth](https://x.com/middleway_eth) published a [thread](https://x.com/middleway_eth/status/1879248240840999313) exploring how [Curve Finance](https://curve.fi/) uses [Cow Swap](https://swap.cow.fi)’s [Programmatic Order Framework](https://cow.fi/learn/introducing-the-programmatic-order-framework-from-cow-protocol) to mitigate MEV and provide efficient execution. - [IC3](https://www.initc3.org/) published a [thread](https://x.com/initc3org/status/1877154183146590344) summarizing the [2025 IC3 Winter Retreat](https://www.initc3.org/events/2025-01-05-ic3-winter-retreat-2025) with talks and discussions on voting mechanisms for DAOs, Web2 account encumbrance through TEEs, and more. # Talks & Discussions - [Additional recordings](https://www.youtube.com/@cberforum/videos) from [CBER Crafting the Cryptoeconomy Conference](https://ctce.cber-forum.org/) hosted by [Columbia University’s Center for Digital Finance and Technologies](https://godigital.engineering.columbia.edu/) have been uploaded: - [Optimistic Rollups](https://www.youtube.com/watch?v=c3eWG2v_wRw) by [Ed Felten](https://x.com/EdFelten) details various sequencer designs and their tradeoffs. - [MEV Mitigation by a Transaction Ordering Rule](https://www.youtube.com/watch?v=wC40KWcHP8A) by [Robert McLaughlin](https://x.com/robmcl4) presents a transaction ordering rule designed to reduce price volatility and prevent sandwich attacks. - [Price Formation in Memory Pools](https://www.youtube.com/watch?v=R8aRvY6ejdE) by [Fayçal Driss](https://www.faycaldrissi.com/) explores the impact block times and mempools have on DEX price discovery. - [Columbia University Digital Finance Seminar Series](https://business.columbia.edu/dfi/labs/briger-family-digital-finance-lab/digital-finance-seminar-series) hosted by [The Center for Digital Finance and Technologies](https://godigital.engineering.columbia.edu/) and [The Briger Family Digital Finance Lab](https://business.columbia.edu/dfi/labs/briger-family-digital-finance-lab): - [All AMMS are CFMMs](https://youtu.be/meE7Torv52s?si=2Mc8jWnzbVt_S-ck) by [Roger Lee](https://www.linkedin.com/in/arbitroger) discuss DEX design and approaches to reduce MEV and LVR. - [FOCIL Meeting #2](https://www.youtube.com/watch?v=8s4XUc8bg8A) hosted by [Thomas Thiery](https://twitter.com/soispoke) invited client teams to discuss implementation progress and ongoing work related to [FOCIL](https://eips.ethereum.org/EIPS/eip-7805). - [Agenda and notes](https://github.com/ethereum/pm/issues/1238) by [Matthew Keil](https://x.com/MatthewKeil) - [FOCIL Prysm Implementation Notes](https://hackmd.io/@ttsao/focil-implementation-notes) by [Terence Tsao](https://terencecha.in/) - [Ethereum Sequencing and Preconfirmations Call #16](https://www.youtube.com/watch?v=VjEJUimMxvk) hosted by [Justin Drake](https://twitter.com/drakefjustin) highlights recent developments related to based rollups, and invites [Tom Lehman](https://x.com/dumbnamenumbers) for a presentation on [Facet](https://facet.org/). - [Spicy Takes](https://x.com/ValantisLabs/status/1877760858299695442) with [DevenMat](https://x.com/DevenMat), [mrs kzg.eth](https://x.com/kassandraETH), and [Ed](https://x.com/happenwah) discusses [Arrakis](https://www.arrakis.fi/)’s [HOT AMM](https://docs.arrakis.fi/text/modules/hotAmm/overview.html), composability, order flow, and more. # Other - [TEE Bible - Your First Stop for TEE in Crypto](https://www.tee3.ai/)by [TEE Intern](https://x.com/tee_intern), [Alex GG](https://x.com/Alexpfeth), and [msfew](https://x.com/msfew_eth) is a collection of papers, articles, and other resources related to the use of TEEs in crypto. - [Thread](https://x.com/tee_intern/status/1877732896389398784) by [TEE Intern](https://x.com/tee_intern) - [stealth-gas-cli](https://github.com/kassandraoftroy/stealth-gas-cli) by [mrs kzg.eth](https://x.com/kassandraETH) is a lightweight privacy tool for anonymizing gas payments through a blind signature scheme, live on Holešky. - [Thread](https://x.com/kassandraETH/status/1878851169222815751) by [mrs kzg.eth](https://x.com/kassandraETH) - [Barnabé Monnot](https://barnabemonnot.com/) published a [thread](https://x.com/barnabemonnot/status/1879213620430791126) detailing EF Research’s team structure, initiatives, goals, and leadership changes with [Barnabé Monnot](https://barnabemonnot.com/) and [Alex Stokes](https://x.com/ralexstokes) stepping into the position of EF Research co-leads. - [Thread](https://x.com/ralexstokes/status/1879214957268742266) by [Alex Stokes](https://x.com/ralexstokes) - [Builders, or Market Makers 2.0? The Rise of Crypto’s Hidden Giants](https://eigenphi.substack.com/p/builders-or-market-makers) by [EigenPhi](https://eigenphi.io/) highlights a collection of their posts from last year analyzing the builder market. * * * ✉ [**Sign up here**](https://flashbots.net/the-mev-letter) if you’d like to get The MEV Letter straight to your inbox! [Previous editions of The MEV Letter ](https://collective.flashbots.net/tag/the-mev-letter)[Join Flashbots ⚡ 🤖](https://www.flashbots.net/jobs)