# The MEV Letter #76 **URL:** https://collective.flashbots.net/t/the-mev-letter-76/4727 **Category:** The Flashbots Ship **Tags:** the-mev-letter **Created:** [February 25, 2025, 10:51pm UTC](https://collective.flashbots.net/t/the-mev-letter-76/4727 "2025-02-25T22:51:58Z") **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: [February 25, 2025, 10:51pm UTC](https://collective.flashbots.net/t/the-mev-letter-76/4727/1 "2025-02-25T22:51:58Z")
_ **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](https://buildernet.org/blog/2025/02/19/buildernet-v1.2) by [Flashbots](https://www.flashbots.net/) announces an upgrade to [BuilderNet](https://buildernet.org/) that streamlines operator onboarding, enhances security and performance, and supports fully reproducible TDX image builds. - [Thread](https://x.com/SheaKetsdever/status/1892229765362237516) by [Shea Ketsdever](https://x.com/SheaKetsdever) - [Post](https://x.com/metachris/status/1892238206352900394) by [Chris Hager](https://www.metachris.com/) - [Reclaiming the blockchain: Priority Blockspace for Humans launches on World Chain testnet](https://world.org/blog/announcements/reclaiming-blockchain-priority-blockspace-for-humans-launches-world-chain-testnet) by[World](https://world.org/) announces the launch of [Priority Blockspace for Humans (PBH)](https://world.org/blog/engineering/introducing-pbh-priority-blockspace-for-humans) on the [World Chain](https://world.org/blog/announcements/world-chain-now-open-every-human) Sepolia testnet, providing top-of-block priority to verified human transactions using [Rollup-Boost](https://writings.flashbots.net/introducing-rollup-boost). - [Block Building in Taiko](https://collective.flashbots.net/t/block-building-in-taiko/4724) by [Optimus](https://x.com/0xOptimus) details the MEV supply chain and block-building process of [Taiko](https://taiko.xyz/)’s based rollup. - [Post](https://x.com/0xOptimus/status/1894425868040376746) by [Optimus](https://x.com/0xOptimus) - [Public crypto networks as financial market infrastructures](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5138052) by [Ulrich Bindseil](https://www.linkedin.com/in/ulrich-bindseil-764b4015) and [Omid Malekan](https://www.omidmalekan.com/) analyze DeFi as financial market infrastructure, highlighting its ability to facilitate real-time multi-asset transactions, while assessing challenges and future directions. - [Post](https://x.com/malekanoms/status/1894033529807233162) by [Omid Malekan](https://www.omidmalekan.com/) - [Thread](https://x.com/SebVentures/status/1894333251852099913) by [Sébastien Derivaux](https://x.com/SebVentures) - [Rainbow roles & incentives: ABPS + FOCILR + AS](https://ethresear.ch/t/rainbow-roles-incentives-abps-focilr-as/21826) by [Anders Elowsson](https://x.com/weboftrees) explores the limits of a maximally unbundled staking set, examining potential rainbow roles and the incentive designs required to coordinate them. - [Thread](https://x.com/weboftrees/status/1894123528443891741) by [Anders Elowsson](https://x.com/weboftrees) - [Max-Blobs Flag: Economic Perspective](https://ethresear.ch/t/max-blobs-flag-economic-perspective/21798) by [Toni Wahrstätter](https://toniwahrstaetter.com/) analyzes the effect on proposer revenue by allowing locally built blocks to reduce the number of blobs included. - [Pricing Transactions for Preconfirmation](https://ethresear.ch/t/pricing-transactions-for-preconfirmation/21802) by[BM. Robaglia](https://x.com/benrobaglia),[Umberto Natale](https://x.com/un_data_wiz), and[Michael Moser](https://x.com/mostlyblocks) propose a framework for pricing preconfirmations and improve decision-making for node operators. - [Dashboard](https://preconfs.chorus.one/) by [Chorus One](https://chorus.one/) - [Post](https://x.com/mostlyblocks/status/1893006543567691813) by[Michael Moser](https://x.com/mostlyblocks) - [Thread](https://x.com/ChorusOne/status/1892949678548767144) by[Chorus One](https://chorus.one/) - [Proposer Commitments - A Validator’s Case For Delegation](https://mirror.xyz/ladislaus.eth/aZWM5O_gjqj56w0lvCGhRMwYfoAF_jVdMuHWO3cq-JE) by[ladislaus.eth](https://x.com/ladislaus0x) explores how based sequencing, proposer commitments, and the delegation of validator duties might impact the staking ecosystem. - [Post](https://x.com/ladislaus0x/status/1893993882108502109) by[ladislaus.eth](https://x.com/ladislaus0x) - [Post](https://x.com/ConorMcMenamin9/status/1894304358717669839) by[Conor McMenamin](https://x.com/ConorMcMenamin9) - [Toward a General Model for Proposer Selection Mechanism Design](https://ethresear.ch/t/toward-a-general-model-for-proposer-selection-mechanism-design/21790) by [Hang Jiang](https://www.hangjiang.blog/) presents a unified theoretical model for analyzing different Attester-Proposer Separation (APS) mechanisms. - [[RFC] Programmable settlement layer for multi-agent dApps](https://ethresear.ch/t/rfc-programmable-settlement-layer-for-multi-agent-dapps/21780) by [Daniel](https://github.com/Dl-Vv) presents an intent-centric settlement architecture with native counterparty discoverability, enabling new types of intents like P2P flashloans. - [Trusted Execution Environments (TEEs): A primer](https://a16zcrypto.com/posts/article/trusted-execution-environments-tees-primer/) by [Aaditya Shidham](https://x.com/aashidham) outlines how TEEs can be used to process private state in decentralized systems, and best practices for mitigating risks. - [Thread](https://x.com/aashidham/status/1892264766233595919) by [Aaditya Shidham](https://x.com/aashidham) - [Introducing the Crosschain Broadcaster - A Building Block for Trustless Ethereum Interop](https://x.com/OffchainLabs/status/1892623329254646032) by [Offchain Labs](https://www.offchainlabs.com/) introduces a smart contract system leveraging onchain storage proofs to enable trustless crosschain messaging for rollups. - [Thread](https://x.com/0x_allan/status/1892650366409261344) by [0xAllan](https://x.com/0x_allan) - [7 Things You Need to Know About Unichain, Uniswap’s Latest L2](https://gogol.substack.com/p/7-things-you-need-to-know-about-unichain) by[Krzysztof Gogol](https://x.com/krzysgogol) describes key features of [Unichain](https://www.unichain.org/) to provide faster transactions, lower fees, and MEV internalization. - [A Complete Guide to Uniswap V4](https://research.2077.xyz/a-complete-guide-to-uniswap-v4-1#history-of-uniswap-v1-v2) by [sm-stack](https://twitter.com/stackdigest) details [Uniswap](https://uniswap.org/)’s progression from v1 to v4, and how hooks in [Uniswap v4](https://v4.uniswap.org/) enhance capital efficiency and expand use cases. - [Thread](https://x.com/2077Research/status/1894390366503092301) by [2077 Research](https://research.2077.xyz/) - [On-chain liquidity as an orderbook](https://www.propellerheads.xyz/blog/amm-liquidity-as-an-orderbook) by[PropellerHeads](https://www.propellerheads.xyz/) discusses the similarities between AMMs and orderbooks, and outlines a method to simulate an orderbook from onchain liquidity using [Tycho](https://docs.propellerheads.xyz/tycho). - [Post](https://x.com/_haikane_/status/1892650132849754319) by[Markus Schmitt](https://x.com/_haikane_) - [The future of trading is onchain](https://www.propellerheads.xyz/blog/the-future-of-trading-is-onchain) by[PropellerHeads](https://www.propellerheads.xyz/) 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. - [Post](https://x.com/_haikane_/status/1893301030273552879) by [Markus Schmitt](https://x.com/_haikane_) # Posts & Threads - The [Pectra](https://ethereum.org/en/roadmap/pectra/) upgrade on Holešky ran into a configuration issue on 3 majority clients resulting in an invalid chain being justified. - [Thread](https://x.com/parithosh_j/status/1894236676567785814) by [parithosh](https://x.com/parithosh_j) - [Thread](https://x.com/gakonst/status/1894173832317211112) by [Georgios Konstantopoulos](https://x.com/gakonst) - [Thread](https://x.com/vdwijden/status/1894330068668756353) by [Marius van der Wijden](https://mariusvanderwijden.github.io/) - [Post](https://x.com/nixorokish/status/1894253346170835318) by [nixo.eth](https://x.com/nixorokish) - [Post](https://x.com/TimBeiko/status/1894472196464197917) by [Tim Beiko](https://twitter.com/TimBeiko) - [Elaine Hu](https://x.com/elenahoolu) published a [thread](https://x.com/elenahoolu/status/1894156378639392820) discussing the potential impact of [Citadel](https://www.citadel.com/) entering the crypto market making space on DEXes, MEV, and orderflow. - [Barnabé Monnot](https://barnabemonnot.com/) published a[thread](https://x.com/barnabemonnot/status/1892948944574902380) sharing thoughts on recent publications and collaborations from [EF Research](http://research.ethereum.foundation). - [nixo.eth](https://x.com/nixorokish) published a [post](https://x.com/nixorokish/status/1892602361732055195) 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](https://x.com/potuz_eth/status/1892715570291761283) by [Potuz](https://x.com/potuz_eth/) - [Post](https://x.com/barnabemonnot/status/1892858657294995827) by [Barnabé Monnot](https://barnabemonnot.com/) - [Guillaume Lambert](https://x.com/guil_lambert) published a[post](https://x.com/guil_lambert/status/1890423153114988941) arguing that impermanent loss is misunderstood as LP positions are inherently directional and generate profits when the asset price increases. - [PBS Foundation](http://pbs.foundation) published a [thread](https://x.com/PBS_Foundation/status/1892893526737768831) highlighting relevant side-events at [ETHDenver](https://www.ethdenver.com/). # Talks & Discussions - [MEVSpace #3: TEEs in Blockchains - Trust, Decentralization, and Market](https://x.com/EigenPhi/status/1892378214007271518) hosted by [EigenPhi](https://eigenphi.io/) invites [Shea Ketsdever](https://twitter.com/SheaKetsdever), [Chua Zheng Leong](https://x.com/melynx), and [Blair Marshall](https://x.com/blairlmarshall) for a conversation on how TEEs provides confidentiality and integrity guarantees for block building and other applications. - [Post](https://x.com/EigenPhi/status/1889886733157933385) by [EigenPhi](https://eigenphi.io/) - [MEV-Boost community call #12](https://www.youtube.com/watch?v=Bpy_otcoimw) hosted by[Alex Stokes](https://stokes.io/) invited the MEV-Boost community to discuss Pectra readiness, [bid pricing](https://github.com/flashbots/mev-boost/issues/708), [header timestamps](https://github.com/ethereum/builder-specs/pull/111), and more. - [Agenda](https://collective.flashbots.net/t/mev-boost-community-call-12/4633) by [Alex Stokes](https://stokes.io/) - [PEEPanEIP](https://youtube.com/playlist?list=PL4cwHXAawZxqu0PKKyMzG_3BJV_xZTi1F&si=la0PPNnVSN1JmtQ2) hosted by [Pooja Ranjan](https://x.com/poojaranjan19): - [EIP 7706 Separate gas type for calldata](https://youtu.be/c3TV6OhjSfc?feature=shared) invites [Vitalik Buterin](https://vitalik.eth.limo/) to present [EIP-7706](https://eips.ethereum.org/EIPS/eip-7706) which introduces a separate fee market for calldata, with its own basefee and per-block gas limit. - [EIP 7691 Blob throughput increase](https://www.youtube.com/watch?v=Ma31xvBoySw) invites [parithosh](https://x.com/parithosh_j), [Toni Wahrstätter](https://toniwahrstaetter.com/) and [Sam Calder-Mason](https://x.com/samcmAU) to discuss increasing the number of blobs ber block to target 6 and max 9 via [EIP-7691](https://eips.ethereum.org/EIPS/eip-7691). - [L2 Interop Working Group Call #4](https://www.youtube.com/watch?v=pb76xwgXkSI) hosted by [Josh Rudolf](https://x.com/rudolf6_) covered progress on the [Open Intents Framework](https://www.openintents.xyz/), new ERC proposals, trustless bridging, and more. - [Agenda and notes](https://notes.ethereum.org/@rudolf/interop-4) by[Josh Rudolf](https://x.com/rudolf6_) - [Thread](https://x.com/rudolf6_/status/1894416857928712616) by[Josh Rudolf](https://x.com/rudolf6_) - [FOCIL Break Out Room 5](https://www.youtube.com/watch?v=UW9vA3FIYn8) hosted by [Jihoon Song](https://x.com/jih2nn) discussed progress related to implementing [EIP-7805](https://eips.ethereum.org/EIPS/eip-7805). - [Agenda](https://github.com/ethereum/pm/issues/1325) by [Thomas Thiery](https://twitter.com/soispoke) - [Native Rollups Call #1](https://www.youtube.com/watch?v=Wo-qLXVYf-Y) hosted by[mteam](https://x.com/mteamisloading/) discussed open research, future work, and coordination efforts related to [Native rollups](https://ethresear.ch/t/native-rollups-superpowers-from-l1-execution/21517). - [Agenda](https://github.com/ethereum/pm/issues/1301) by [mteam](https://x.com/mteamisloading/) - [Deeply Intents](https://x.com/apriori0x/status/1881654337581072843): [The Alchemy of ASS](https://www.youtube.com/watch?v=pJaLS3nOroo) invites [Alex Watts](https://x.com/ThogardPvP) for a conversation on MEV, Application-Specific Sequencing, intents, solvers, and [FastLane](https://www.fastlane.xyz/). - [Post](https://x.com/apriori0x/status/1892476079308255628) by [apriori](https://x.com/apriori0x) - [Post](https://x.com/ThogardPvP/status/1892482064689111394) by [Alex Watts](https://x.com/ThogardPvP) - [The Symposium Restaking Research Day](https://x.com/symbioticfi/status/1892621036207653026) invites [Murat Akdeniz](https://x.com/MuratLite), [Yorke Rhodes](https://x.com/0xyorke), and[Mingxuan He](https://www.mingxuanhe.xyz/) for presentations on [mev-commit](https://github.com/primev/mev-commit), [Hyperlane](https://hyperlane.xyz/), and how to price slashing risks. - [Kiln’s Restaking Rendez-Vous: Mempirate from Chainbound](https://youtu.be/14Q-yujJr_w?si=x2MEcdGzxM2wWpQj) invites [mempirate](https://x.com/mempirate) to discuss preconfirmations, restaking, [Chainbound](https://x.com/chainbound_), and [bolt](https://boltprotocol.xyz/). - [Post](https://x.com/Kiln_finance/status/1892607056433033355) by [Kiln](https://www.kiln.fi/) - [Core Notes from Core Devs](https://x.com/OffchainLabs/status/1892278819806990721) with[Terence Tsao](https://terencecha.in/), and[jameshe.eth](https://x.com/jameshe_eth) discuss their final preparations for the Pectra upgrade, blob scalability, and mempool bottlenecks. # Other - [The Execution-Layer Testing Loop](https://collective.flashbots.net/t/the-execution-layer-testing-loop/4703) by[brock](https://twitter.com/zeroXbrock) 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](http://openintents.xyz) is a modular framework for building and deploying intent-based products, including solvers and composable smart contracts. - [Thread](https://x.com/ethereumfndn/status/1892244647369433272) by [Ethereum Foundation](https://ethereum.foundation/) - [Thread](https://x.com/rudolf6_/status/1892251814676091156) by [Josh Rudolf](https://x.com/rudolf6_) - [Guide](https://mirror.xyz/edatweets.eth/qbTJQmNP6Q50dOkLoGG9g13ZUups4j_1YOtw_L2yAjM) by[Eda](https://x.com/edatweets_) - [Thread](https://x.com/stacy_muur/status/1892650191536472210) by [Stacy Muur](https://x.com/stacy_muur) - [The Lab](https://lab.ethpandaops.io/) by [ethPandaOps](https://ethpandaops.io/) provides real-time information on node distribution, network performance, block propagation, and more for the beacon chain. - [Thread](https://x.com/samcmAU/status/1893305755765227954) by [Sam Calder-Mason](https://x.com/samcmAU) - [Post](https://x.com/samcmAU/status/1882608244583194914) by [Sam Calder-Mason](https://twitter.com/samcmAU) - [[AMA] We are EF Research (Pt. 13: 25 February, 2025)](https://www.reddit.com/r/ethereum/comments/1iw8ln8/ama_we_are_ef_research_pt_13_25_february_2025/) hosted by [EF Research](http://research.ethereum.foundation) answers questions from the Ethereum community related to their work. - [Post](https://x.com/drakefjustin/status/1894018731094704517) by [Justin Drake](https://twitter.com/drakefjustin) * * * ✉ [**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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