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
- First-Spammed, First-Served: MEV Extraction on Fast-Finality Blockchains by Krzysztof Gogol, Manvir Schneider, and Claudio Tessone investigates the economics, and execution patterns, of spam-based arbitrage strategies on rollups where transaction ordering follows a FCFS policy and sequencers operate private mempools.
- Becoming Immutable: How Ethereum is Made by Andrea Canidio and Vabuk Pahari presents an empirical study of blocks that did not win the MEV-Boost auction, concluding that exclusive orderflow accounts for around 85% of the winning block value.
- TEE-Bound VRF with Hardware-Agnostic Key Management by @mondaylord describes how dstack-kms, used in Phala Flash VRF, delivers censorship-resistant and verifiable randomness from TEEs.
- Trillion Dollar Security Project: Security Challenges Overview by Ethereum Foundation details existing security challenges in the Ethereum ecosystem as part of the Trillion Dollar Security Initiative.
- A new design for DAS and Sharded Blob Mempools by Leo presents a design for data availability sampling and sharded blob mempools with reduced bandwidth requirements compared to Danksharding.
- EVM 2.0: Proving-Centric vs. Execution-Centric Approaches by Eli Ben-Sasson explores three potential routes for redesigning the EVM, weighing the tradeoffs between fast execution, ZK-proving efficiency, and developer tooling.
Posts & Threads
- ladislaus.eth published a thread sharing publications and collaborations by EF Research from the previous week.
- Protocol Guild published a post highlighting recent efforts by Ethereum core developers related to scaling, network resilience, benchmarking, and more.
Talks & Discussions
- All Core Devs - Execution (ACDE) #213 (June 5, 2025) hosted by Tim Beiko discussed the potential impact of increasing the gas limit to 60M, EIP readiness for Fusaka, and EIP proposals for Glamsterdam.
- FOCIL Breakout #12 hosted by Thomas Thiery discussed FOCIL implementation updates, and invited Aikaterini-Panagiota Stouka to present Multiple Proposer Transaction Fee Mechanism Design: Robust Incentives Against Censorship and Bribery.
- Gelato: Ethereum’s Endgame: Beamchain, Based & Native Rollups invites Justin Drake for a conversation on based rollups, beam chain, preconfirmations, scaling the L1, and more.
- SSV Network: Going Based: Plugging Ethereum’s Value Leak with Alon Muroch, Drew Van der Werff, Joaquin Mendes, and Murat Akdeniz discuss improvements to onchain UX via preconfirmations, based rollups, and cross-chain composability.
Other
- Private Blob Submission — Use Cases by @dmarz outlines motivating factors, and design implications, for why rollups might prefer private blob submission over public mempool publishing.
- Checkpoint #3: June 2025 by Nixo summarizes recent Ethereum core development discussions related to the launch of Pectra, testing of Fusaka, and headline feature proposals for Glamsterdam.
Sign up here if you’d like to get The MEV Letter straight to your inbox!
Previous editions