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
- BuilderNet v1.2 by Flashbots announces an upgrade to BuilderNet that streamlines operator onboarding, enhances security and performance, and supports fully reproducible TDX image builds.
- Thread by Shea Ketsdever
- Post by Chris Hager
- Reclaiming the blockchain: Priority Blockspace for Humans launches on World Chain testnet by World announces the launch of Priority Blockspace for Humans (PBH) on the World Chain Sepolia testnet, providing top-of-block priority to verified human transactions using Rollup-Boost.
- Block Building in Taiko by Optimus details the MEV supply chain and block-building process of Taiko’s based rollup.
- Public crypto networks as financial market infrastructures by Ulrich Bindseil and Omid Malekan analyze DeFi as financial market infrastructure, highlighting its ability to facilitate real-time multi-asset transactions, while assessing challenges and future directions.
- Rainbow roles & incentives: ABPS + FOCILR + AS by Anders Elowsson explores the limits of a maximally unbundled staking set, examining potential rainbow roles and the incentive designs required to coordinate them.
- Max-Blobs Flag: Economic Perspective by Toni Wahrstätter analyzes the effect on proposer revenue by allowing locally built blocks to reduce the number of blobs included.
- Pricing Transactions for Preconfirmation by BM. Robaglia, Umberto Natale, and Michael Moser propose a framework for pricing preconfirmations and improve decision-making for node operators.
- Dashboard by Chorus One
- Post by Michael Moser
- Thread by Chorus One
- Proposer Commitments - A Validator’s Case For Delegation by ladislaus.eth explores how based sequencing, proposer commitments, and the delegation of validator duties might impact the staking ecosystem.
- Post by ladislaus.eth
- Post by Conor McMenamin
- Toward a General Model for Proposer Selection Mechanism Design by Hang Jiang presents a unified theoretical model for analyzing different Attester-Proposer Separation (APS) mechanisms.
- [RFC] Programmable settlement layer for multi-agent dApps by Daniel presents an intent-centric settlement architecture with native counterparty discoverability, enabling new types of intents like P2P flashloans.
- Trusted Execution Environments (TEEs): A primer by Aaditya Shidham outlines how TEEs can be used to process private state in decentralized systems, and best practices for mitigating risks.
- Introducing the Crosschain Broadcaster - A Building Block for Trustless Ethereum Interop by Offchain Labs introduces a smart contract system leveraging onchain storage proofs to enable trustless crosschain messaging for rollups.
- 7 Things You Need to Know About Unichain, Uniswap’s Latest L2 by Krzysztof Gogol describes key features of Unichain to provide faster transactions, lower fees, and MEV internalization.
- A Complete Guide to Uniswap V4 by sm-stack details Uniswap’s progression from v1 to v4, and how hooks in Uniswap v4 enhance capital efficiency and expand use cases.
- On-chain liquidity as an orderbook by PropellerHeads discusses the similarities between AMMs and orderbooks, and outlines a method to simulate an orderbook from onchain liquidity using Tycho.
- The future of trading is onchain by PropellerHeads argues that AMMs are safer and more capital-efficient than CEXs which will lead to a shift towards onchain as technological barriers decrease and regulatory clarity improves.
Posts & Threads
- The Pectra upgrade on Holešky ran into a configuration issue on 3 majority clients resulting in an invalid chain being justified.
- Elaine Hu published a thread discussing the potential impact of Citadel entering the crypto market making space on DEXes, MEV, and orderflow.
- Barnabé Monnot published a thread sharing thoughts on recent publications and collaborations from EF Research.
- nixo.eth published a post raising concerns about the profitability of solo stakers, arguing that the current trajectory could lead to a future where solo staking is no longer economically viable.
- Thread by Potuz
- Post by Barnabé Monnot
- Guillaume Lambert published a post arguing that impermanent loss is misunderstood as LP positions are inherently directional and generate profits when the asset price increases.
- PBS Foundation published a thread highlighting relevant side-events at ETHDenver.
Talks & Discussions
- MEVSpace #3: TEEs in Blockchains - Trust, Decentralization, and Market hosted by EigenPhi invites Shea Ketsdever, Chua Zheng Leong, and Blair Marshall for a conversation on how TEEs provides confidentiality and integrity guarantees for block building and other applications.
- MEV-Boost community call #12 hosted by Alex Stokes invited the MEV-Boost community to discuss Pectra readiness, bid pricing, header timestamps, and more.
- PEEPanEIP hosted by Pooja Ranjan:
- EIP 7706 Separate gas type for calldata invites Vitalik Buterin to present EIP-7706 which introduces a separate fee market for calldata, with its own basefee and per-block gas limit.
- EIP 7691 Blob throughput increase invites parithosh, Toni Wahrstätter and Sam Calder-Mason to discuss increasing the number of blobs ber block to target 6 and max 9 via EIP-7691.
- L2 Interop Working Group Call #4 hosted by Josh Rudolf covered progress on the Open Intents Framework, new ERC proposals, trustless bridging, and more.
- FOCIL Break Out Room 5 hosted by Jihoon Song discussed progress related to implementing EIP-7805.
- Native Rollups Call #1 hosted by mteam discussed open research, future work, and coordination efforts related to Native rollups.
- Deeply Intents: The Alchemy of ASS invites Alex Watts for a conversation on MEV, Application-Specific Sequencing, intents, solvers, and FastLane.
- Post by apriori
- Post by Alex Watts
- The Symposium Restaking Research Day invites Murat Akdeniz, Yorke Rhodes, and Mingxuan He for presentations on mev-commit, Hyperlane, and how to price slashing risks.
- Kiln’s Restaking Rendez-Vous: Mempirate from Chainbound invites mempirate to discuss preconfirmations, restaking, Chainbound, and bolt.
- Core Notes from Core Devs with Terence Tsao, and jameshe.eth discuss their final preparations for the Pectra upgrade, blob scalability, and mempool bottlenecks.
Other
- The Execution-Layer Testing Loop by brock details the trade-offs of using synthetic vs. forked orderflow when evaluating execution node performance, and advocates for a combined approach in client development.
- The Open Intents Framework: Intents As A Public Good is a modular framework for building and deploying intent-based products, including solvers and composable smart contracts.
- Thread by Ethereum Foundation
- Thread by Josh Rudolf
- Guide by Eda
- Thread by Stacy Muur
- The Lab by ethPandaOps provides real-time information on node distribution, network performance, block propagation, and more for the beacon chain.
- [AMA] We are EF Research (Pt. 13: 25 February, 2025) hosted by EF Research answers questions from the Ethereum community related to their work.
- Post by Justin Drake
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