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
- Cross-Chain Arbitrage: The Next Frontier of MEV in Decentralized Finance by @boz1, Christof Ferreira Torres, @Christoph, @BrunoMr, Jonas Gebele, @rezabfil, and Florian Matthes presents a profit-cost model and empirical study of cross-chain arbitrage across nine chains, revealing market concentration and a shift toward inventory-based strategies.
- Trustless TEE Overview June 2025 by @Quintus details how the Trustless TEE Initiative aims to design high-performance, open-source confidential computing hardware with robust physical security and verifiable supply chains, starting at the silicon.
- Extending Sandboxes to New MEV Types by @hulbert presents efforts to develop high-performance, ephemeral TEE-based sandboxes for searcher strategies that expand beyond the current bottom-of-block implementations.
- Optimistic MEV in Ethereum Layer 2s: Why Blockspace Is Always in Demand by Ozan Solmaz, Lioba Heimbach, Yann Vonlanthen, and Roger Wattenhofer analyzes “optimistic MEV” on L2s, uncovering widespread speculative arbitrage spam consuming significant blockspace with low success rates.
- Verifying TEE Applications: A Practical Walkthrough with Dstack by @shelven walks through how Dstack delivers end-to-end verifiability for TEE applications, addressing the real-world challenges of Zero Trust security.
- EIP-7782: The case for 2x shorter slot times in Glamsterdam by Ben Adams, Dankrad Feist, Julian Ma and Barnabé Monnot proposes reducing Ethereum slot times from 12 to 6 seconds in Glamsterdam via EIP-7782 to improve UX, validator economics, and interoperability.
- Behind the Scenes of Ethereum’s Pectra Upgrade: A Data-Driven Analysis by Dennis Trautwein examines how Pectra affected network topology, block propagation, and bandwidth across regions and client types.
- The State of Type 3 Transactions After Pectra: One Month of Blob Data Activity by Leo examines blob transaction patterns in the month following Pectra’s increase in blob capacity.
- Blob Sharing for Based Rollups by Anshu Jalan and Lin Oshitani presents a protocol that allows based rollups to share a single set of blobs using a shared proposer and EIP-7702.
- Post by Anshu Jalan
- Post by Lin Oshitani
- A practical proposal for Multidimensional Gas Metering by Maria InĂŞs Silva and Davide Crapis proposes a multidimensional metering scheme to optimize resource utilization and increase throughput.
- Unpredictable RANDAO by banri, vita, and Hiro proposes a redesign of Ethereum’s RANDAO mechanism with threshold BLS signatures and committee-based DKG to mitigate current vulnerabilities.
- Considerations for the BLOB_BASE_COST in EIP-7918 by Anders Elowsson explains the rationale behind setting
BLOB_BASE_COSTin EIP-7918 to 2^12 to moderate the blob fee market while accounting for KZG proof verification cost. - LingLong: Pre-Settle Ethereum by Luban introduces LingLong, as a proposer commitment and delegation framework that enables pre-settlement of based rollups on Ethereum.
Posts & Threads
- @sui414 published a post highlighting that 88% of orderflow value is now being captured by OFA or vertical integrations with builders, leaving only 12% sourced from the public mempool.
- @rezabfil published a thread to share details from their presentation A New Frontier in Confidential Computing SpaceTEEs and L2 Security at ETHPrague.
- ladislaus.eth published a thread sharing publications and collaborations by EF Research from the previous two weeks.
- PBS Foundation published a thread summarizing Future-Proofing Preconfirmations by Aikaterini-Panagiota Stouka and Conor McMenami, which investigates how preconfirmation protocols can become compatible with FOCIL, SSLE, ePBS, and other proposed EIPs.
- Akaki Mamageishvili published a post detailing the rationale and design behind Arbitrum’s TimeBoost.
- L2BEAT published a thread announcing their L2 Recategorisation going live with stricter requirements for what constitutes a Layer 2.
- Terence Tsao published a post arguing that Ethereum should first implement ePBS via EIP-7732, before reducing slot times via EIP-7782.
Talks & Discussions
- ZuBerlin – Futura Garden by ZuBerlin hosted a week of 5 tracks with presentations and panels on multiple research topics:
- Protocol & MEV Day curated by Chris Haug
- Agenda by Chris Haug
- Data Wizardry Day curated by @sui414, hildobby, and Boxer
- Cryptography Day hosted by Lisa Akselrod
- Future Society & AI Day
- L2 Interop Day
- Day 1 curated by Ellie Davidson
- Day 2 curated by donnoh.eth and Orest Tarasiuk
- Agenda by donnoh.eth and Orest Tarasiuk
- Post by ZuBerlin
- Protocol & MEV Day curated by Chris Haug
- All Core Devs - Execution #214 hosted by Ansgar Dietrichs discussed the finalization of EIPs for Fusaka, performance metrics for scaling to 45M gas blocks, and EIP proposals for Glamsterdam.
- Notes by Ansgar Dietrichs and Andrew B Coathup
- Notes by Christine D. Kim
- Notes by Yash Kamal Chaturvedi
- Thread by nixo.eth
- Thread by Everstake
- Proof is in the Pudding: Trusted Execution Environments (TEEs) by David Wong outlines the current TEEs in existence, their security and attack vectors, firmware, and more.
- EIP-7732 breakout room #20 hosted by Potuz discussed a new builder-to-proposer payment mechanism and fork choice signaling in EIP-7732.
- Agenda by Potuz
- Notes by Terence Tsao
- PEEPanEIP: EIP-7825: Tx Gas Limit Cap & EIP-7934: RLP Execution Block Size Limit invites Giulio Rebuffo to present the design of EIP-7825, which introduces a protocol-level cap on the maximum gas used by a transaction to 30 million.
- Flashblocks in 15 Seconds by Optimus gives a quick overview of how Flashblocks in Rollup-Boost stream sub-blocks for faster confirmation times.
Other
- Trustless TEE Salon (colab with Ulyssean) by @Quintus details an event on June 20 focusing on Trustless TEEs with sessions on vulnerabilities, emerging defense strategies, and more.
- v4.xyz by jonjon is a dashboard that monitors real-time price discrepancies across Uniswap v4 pools on different chains.
- Post by jonjon
- Post by Vishwa Naik
- Checkpoint #4: Berlinterop by nixo.eth summarizes the Ethereum Interop Hacking Week in Berlin, progress on Fusaka devnets, gas limit stress testing, long-term research directions, and more.
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