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
- Beyond Yocto: Exploring Mkosi for TDX Images by @hulbert outlines the limitations of Yocto for building TDX images, and evaluates Mkosi as a promising alternative that balances security, reproducibility, and developer experience.
- Using “Failure Costs” to Guarantee Execution Quality in Competitive and Permissionless Order Flow Auctions by Alex Watts, Davide Sinesi, and Jacob Greene presents a failure cost penalty mechanism for OFAs with an on-chain escrow system to improve execution quality and censorship resistance.
- Thread by Alex Watts
- Economic Censorship Games in Fraud Proofs by Ben Berger, Ed Felten, Akaki Mamageishvili, and Benny Sudakov analyzes economic censorship in optimistic rollups where the attacker bribes block proposers to delay fraud proofs.
- Preconfirmation Fair Exchange by Conor McMenamin and Lin Oshitani presents a framework for analyzing protocols that seek to enforce timely-fair exchange of preconfirmations.
- MEV: Scalable fair-ordered DAG Mempool (DAGPool) by Chiro Hiro introduces a DAG-based mempool designed to enhance Ethereum’s scalability, transaction order fairness, and censorship resistance.
- Post by Chiro Hiro
- Revert Protection for Rollup by Titania Research explains why revert protection for rollups is important, and outlines how Rollup-Boost can filter these transactions before block inclusion.
- Delayed Execution Design Tradeoffs by Terence Tsao evaluates the trade-offs between EIP-7862, EIP-7886, and EIP-7732 for delayed execution.
- Tycho Execution is live! by PropellerHeads introduces Tycho Execution as an open-source router enabling solvers, searchers, and traders to optimize multi-hop strategies across any DEX.
- Designing Cross-L2 Interoperability Standards: The Impact of Shared Resources by Whisker Yu examines the rapid growth of L2s and the proposed solutions to reduce fragmentation and enhance interoperability.
Posts & Threads
- Behind the Code #1: 200ms and Counting: The Flash Block’s Boost for Rollups by Francesco Andreoli details Flashblocks’ use of TEEs and sequencer optimizations to enable near-instant confirmations and improved user experience
- @tesa published a thread sharing takeaways from The Dirty Secret of Solver Markets by Gregory Markou at ETHDenver.
- Barnabé Monnot published a thread sharing publications and collaborations by EF Research from the previous week.
- Jitter: Stop it with the dumb “latency” wars by burcκ critiques the race for faster block times and argues that latency variance, as a result of decentralization, is the real bottleneck for DeFi.
- Murat Akdeniz published a thread describing mev-commit’s approach to solve the timely-fair exchange problem via an attestation committee and encrypted mempools.
- The Latest in Defi Research published a thread highlighting an upcoming paper that defines key market-design properties for energy trading via an AMM, and proposes a mathematical framework for a local smart grid.
- GEE-yohm LAMB-bear published a thread detailing the risk profiles and capital efficiency for three LP-strategies in a CLAMM like Uniswap v3/v4; bullish, bearish, and delta-neutral.
Talks & Discussions
- AI Data Summit hosted by Vana: Privacy + Security for Data Sovereignty with Aayush Gupta, David Sneider, @dmarz, Chris Rinard, and Liz Harkavy discuss the infrastructure needed to ensure privacy and security in a user-owned data economy.
- Infinite Jungle: Ethereum’s Culture Problem invites @Hasu to discuss Lido V3 and the culture of Ethereum R&D.
- Preconf.erence hosted by Primev:
- L1-L2 Interop and Programmable Blocks: Gwyneth Design with ULTRA_TX by Ceciliaz_ present ULTRA TX as a mechanism to enable synchronous cross-chain interactions by bundling L1 and L2 transactions into a single, block-sized, L1 transaction.
- Making Interop FAST with Josh Bowen, Can Kisagun, Ismael Hishon-Rezaizadeh, Robert, Dom, and Mayur Relekar discuss approaches for making cross-chain interoperability faster through bridging technologies, intent protocols, and preconfirmations.
- Making Bridges FAST with Murat Akdeniz and Jeff Kuan discuss preconfirmations and intent-based solutions to make bridges faster.
- Blockchain Intent Auctions by Andrea Canidio details the limitations of current trade intent auctions, and outlines a new auction design that seeks to address these shortcomings.
- Deeply Intents hosted by apriori:
- Ethereum is Game Changing Technology invites Drew Van der Werff for a conversation on Commit-Boost, FABRIC, and more.
- The Final Boss invites Katia Banina to discuss DEX design, MEV, market making, and Bebop.
- Kiln Rendez-Vous Podcast ft Terence Tsao from Offchain Labs invites Terence Tsao to discuss Pectra, ePBS, Beam Chain, and more.
Other
- LVR.wtf by Sorella Labs and Fenbushi Capital is a data dashboard for calculating LVR on the top Uniswap pools, accounting for markout time variations and CEX slippage.
- Thread by Sorella Labs
- Post by Fenbushi Capital
- Post by Yuki Yuminaga
- Crypto Rust Engineering Meetup hosted by Flashbots and Ithaca invites engineers for a meetup with presentations on Reth engine design, EVM benchmarking, and high-performance block building.
- Sepolia Pectra Incident Update by Tim Beiko outlines how the Pectra upgrade on Sepolia initially caused a transaction blockage, and describes the measures taken to resolve the issue.
- Sepolia Pectra fork incident recap by Marius van der Wijden describes why the Pectra upgrade on Sepolia resulted in empty blocks, and how the client teams coordinated to resolve the problem.
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