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
- Network-level Censorship: Understanding the Problem by @Moe examines the challenge of network-level censorship resistance in TEEs, highlighting how hosts retain control over network traffic and can selectively filter, delay, or block communications.
- A TEE-Backed Leader Election Protocol to Minimize Worst-Case Cross-Chain Sequencer Latency by @dmarz outlines a leader-election schedule for High Availability (HA) L2 sequencers using TEEs that minimize worst-case latency between pairs of sequencers across multiple L2 networks.
- Separation Gap, Trusted Advantage, and APS by Tong Cao and Julian Ma introduces a framework to categorize and analyze existing Ethereum separation protocols, and discuss how APS can mitigate reliance on trusted entities.
- Liveness Analysis of the Beacon Chain by Pavel Bautista and Dr. Leonardo A. Bautista Gomez studies the liveness of the Beacon chain from genesis to February 2025 by analyzing head attestation correctness and missed slots.
- The Target Demand Paradox in the Blob Fee Market: An Analysis of EIP-4844 & EIP-7961 by Hsiao Po Wen examines how Ethereum’s blob fee market functions under EIP-4844, and evaluates the economic implications of EIP-7691.
- ELI5: Ethereum Validator Exits by Mike Neuder and Mallesh Pai analyzes Ethereum’s validator exit process, its current rate-limiting mechanisms, and changes introduced in Pectra via EIP-7002 and EIP-7251.
- MEV: Multi-Objective Optimization Unsolved by Siyuan and Dana describes the MEV landscape across multiple blockchains and the trade-offs between decentralization, efficiency, and user protection.
- ERC-7699: ERC-20 with Transfer Reference Extension by YiÄźit Yektin details ERC-7699, a proposed extension of ERC-20 that introduces a transfer reference feature to improve transaction clarity, traceability, and interoperability.
- Beyond ZK & Optimistic Rollups: Introducing Based Rollups and Preconfirmations by Krzysztof Gogol explores based rollups and their implications on sequencing, censorship resistance, and liquidity.
Posts & Threads
- @ryager published a thread detailing how a sandwiched transaction was observed in the public mempool with infinite slippage tolerance, countering claims of illicit activity.
- Barnabé Monnot published a thread sharing publications and collaborations by EF Research from the previous week.
- The Latest in Defi Research published a thread highlighting an upcoming paper that analyzes how internalization by professional market makers affects trade execution and market quality on Uniswap.
Talks & Discussions
- Community Call #52: BuilderNet invites @shea to discuss BuilderNet, a decentralized block building network for Ethereum that runs on TEEs and shares MEV with the community.
- The Future of Blockspace Markets hosted by ETHGas:
- A Convergence of Research, Technology and Markets by Sam Jernigan
- Panel: Validator Perspectives on Preconfs and Market Structure with Drew Van der Werff SĂ©bastien Rannou, Matthias Ang, Ben Rodriguez and Reza Sabernia
- Panel: Based Rollups, First Users of Preconfs with Drew Van der Werff, ​Amir Forouzani, Sam Battenally and Antony Denyer
- The Role of Restaking with Proposer Commitments by Brandon Curtis
- Blockspace Markets Today, and Into the Future by Kevin Lepsoe
- Panel: Buying & Trading Blockspace with Aryan Sheikhalian, Kubi Mensah, Benjamin Hunter, Wee Howe Ang and Eduardo Bermudez
- Thread by ETHGas
- Based Rollup Summit hosted by Taiko:
- Based Rollup Summit: Opening Speech by Joaquin
- The Future of Ethereum & the Role of Based Rollups with Vitalik Buterin, @Tomasz and Brecht Devos​​
- Designing Surge - Paths to Generalized Stage 2 Ethereum Rollups Keynote by @Tomasz
- Re-defining Based Rollup from the Perspective of Proposer Commitment by Harry Gao
- Preconfirmations Demo by Jeff Walsh
- L1 - L2 Interop & Programmable Block by Ceciliaz_
- The Missing Piece for a United Ethereum by Keyao Shen
- Preconfirmations and Based Sequencing by Irfan Shaik
- Panel: To Be or Not to Be Based with Mariano Cortesi, Ceciliaz_, Kaito and Apoorv Anand
- Thread by Taiko
- Preconf.erence hosted by Primev: The Future is Based by Alon Muroch
- Bankless: The Future of Ethereum Scaling: Native Rollups Explained invites Uma Roy and Justin Drake to break down native rollups and how they differ from other rollups in terms of security, composability, and scalability.
- Deeply Intents: A Treatise On Multichain Settlement invites Rachin Kalakheti to discuss multi-chain settlement, decentralized sequencing, ordering policies, and more.
- FOCIL Break Out Room 6 hosted by Thomas Thiery discussed progress related to the implementation of EIP-7805 and Dora the explorer.
- Agenda by Thomas Thiery
- Notes from Jihoon Song
- EIP-7732 breakout room #18 hosted by Potuz discussed the latest related to EIP-7732, and updates to the CL specification.
Other
- Flashbots Rollup-Boost AMA w/ Tools for Humanity building on World by @ryager announces an upcoming AMA with Tools for Humanity on the topic of Priority Blockspace for Humans (PBH) on World.
- Thread by Reid Yager
- How TEE Revolutionize Blockchain Trust and Market Dynamics? by EigenPhi summarizes a discussion with @shea, Chua Zheng Leong, and Blair Marshall on how TEEs provide confidentiality and integrity guarantees for block building and other applications.
- ethPandaOps published a thread announcing Hoodi, a new Ethereum testnet for validator-related testing.
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