# The MEV Letter #91 **URL:** https://collective.flashbots.net/t/the-mev-letter-91/4988 **Category:** The Flashbots Ship **Tags:** the-mev-letter **Created:** [June 10, 2025, 7:06pm UTC](https://collective.flashbots.net/t/the-mev-letter-91/4988 "2025-06-10T19:06:30Z") **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: [June 10, 2025, 7:06pm UTC](https://collective.flashbots.net/t/the-mev-letter-91/4988/1 "2025-06-10T19:06:30Z")
_ **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](https://arxiv.org/abs/2506.01462) by [Krzysztof Gogol](https://x.com/krzysgogol), [Manvir Schneider](https://x.com/manv_sc), and [Claudio Tessone](https://www.linkedin.com/in/claudiotessone) 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](https://arxiv.org/abs/2506.04940) by [Andrea Canidio](https://x.com/AndreaCanidio) and [Vabuk Pahari](https://x.com/vpahari) 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. - [Thread](https://x.com/AndreaCanidio/status/1924784891431899552) by [Andrea Canidio](https://x.com/AndreaCanidio) - [Thread](https://x.com/AndreaCanidio/status/1930884497450410183) by[Andrea Canidio](https://x.com/AndreaCanidio) - [TEE-Bound VRF with Hardware-Agnostic Key Management](https://collective.flashbots.net/t/tee-bound-vrf-with-hardware-agnostic-key-management/4981) by @mondaylord describes how [dstack-kms](https://github.com/Dstack-TEE/dstack/tree/master/kms), used in [Phala Flash VRF](https://github.com/Phala-Network/phala-cloud-vrf-template), delivers censorship-resistant and verifiable randomness from TEEs. - [Trillion Dollar Security Project: Security Challenges Overview](https://ethereum.org/en/trillion-dollar-security/) by [Ethereum Foundation](http://ethereum.org/) details existing security challenges in the Ethereum ecosystem as part of the [Trillion Dollar Security Initiative](https://blog.ethereum.org/2025/05/14/trillion-dollar-security). - [Thread](https://x.com/ethereumfndn/status/1932442830271856682) by [Ethereum Foundation](http://ethereum.org/) - [A new design for DAS and Sharded Blob Mempools](https://ethresear.ch/t/a-new-design-for-das-and-sharded-blob-mempools/22537) by [Leo](https://github.com/leobago) presents a design for data availability sampling and sharded blob mempools with reduced bandwidth requirements compared to [Danksharding](https://ethereum.org/se/roadmap/danksharding/#what-is-danksharding). - [EVM 2.0: Proving-Centric vs. Execution-Centric Approaches](https://ethereum-magicians.org/t/evm-2-0-proving-centric-vs-execution-centric-approaches/24455) by [Eli Ben-Sasson](https://x.com/EliBenSasson) explores three potential routes for redesigning the EVM, weighing the tradeoffs between fast execution, ZK-proving efficiency, and developer tooling. - [Post](https://x.com/EliBenSasson/status/1930586479455055921) by [Eli Ben-Sasson](https://x.com/EliBenSasson) # Posts & Threads - [ladislaus.eth](https://x.com/ladislaus0x) published a [thread](https://x.com/ladislaus0x/status/1930965482078605521) sharing publications and collaborations by [EF Research](http://research.ethereum.foundation/) from the previous week. - [Protocol Guild](https://www.protocolguild.org/) published a [post](https://x.com/ProtocolGuild/status/1930641587455119647) 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)](https://www.youtube.com/watch?v=FI5n90Vg-hQ) hosted by [Tim Beiko](https://x.com/timbeiko) discussed the potential impact of increasing the gas limit to 60M, EIP readiness for Fusaka, and EIP proposals for Glamsterdam. - [Agenda](https://github.com/ethereum/pm/issues/1565) by [Tim Beiko](https://x.com/timbeiko) - [Thread](https://x.com/nixorokish/status/1930019320500760846) by [nixo.eth](https://x.com/nixorokish) - [Thread](https://x.com/poojaranjan19/status/1930625658264150260) by [Pooja Ranjan](https://x.com/poojaranjan19) - [FOCIL Breakout #12](https://www.youtube.com/watch?v=_Ms4kilNVto) hosted by [Thomas Thiery](https://twitter.com/soispoke) discussed [FOCIL](https://eips.ethereum.org/EIPS/eip-7805) implementation updates, and invited [Aikaterini-Panagiota Stouka](https://x.com/AikPStouka) to present [Multiple Proposer Transaction Fee Mechanism Design: Robust Incentives Against Censorship and Bribery](https://arxiv.org/abs/2505.13751). - [Agenda](https://github.com/ethereum/pm/issues/1564) by [Thomas Thiery](https://twitter.com/soispoke) - [Gelato](https://www.gelato.cloud/): [Ethereum’s Endgame: Beamchain, Based & Native Rollups](https://www.youtube.com/watch?v=0q-qT67yyVs) invites [Justin Drake](https://x.com/drakefjustin) for a conversation on based rollups, [beam chain](https://beamroadmap.org/), preconfirmations, scaling the L1, and more. - [Thread](https://x.com/luis_0x/status/1930667861359657287) by[LLuis F. Goh](https://x.com/luis_0x) - [SSV Network](https://ssv.network/): [Going Based: Plugging Ethereum’s Value Leak](https://x.com/i/spaces/1mrxmPRLzvMJy) with [Alon Muroch](https://x.com/AmMuroch), [Drew Van der Werff](https://x.com/DrewVdW), [Joaquin Mendes](https://x.com/Joaquin_Mendes1), and [Murat Akdeniz](https://x.com/MuratLite) discuss improvements to onchain UX via preconfirmations, based rollups, and cross-chain composability. # Other - [Private Blob Submission — Use Cases](https://hackmd.io/t7A0hWdhSBuDUBvZEy7dXw) by @dmarz outlines motivating factors, and design implications, for why rollups might prefer private blob submission over public mempool publishing. - [Post](https://x.com/distributedmarz/status/1931834986014953964?s=52) by @dmarz - [Checkpoint #3: June 2025](https://blog.ethereum.org/2025/06/03/checkpoint-3) by [Nixo](https://x.com/nixorokish) summarizes recent Ethereum core development discussions related to the launch of Pectra, testing of Fusaka, and headline feature proposals for Glamsterdam. - [Post](https://x.com/nixorokish/status/1930004006585413978) by[ Nixo ](https://x.com/nixorokish) * * * ✉ [**Sign up here**](https://flashbots.net/the-mev-letter) if you’d like to get The MEV Letter straight to your inbox! [Previous editions](https://collective.flashbots.net/tag/the-mev-letter)