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MEV Auction: Auctioning transaction ordering rights as a solution to Miner...
Special thanks to Vitalik for much of this, Phil Daian as well (& his amazing research on MEV), Barry Whitehat for also coming up with this idea, and Ben Jones for the rest! Blockchain miners...
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whoa, unbundling inclusion from ordering is a cool idea! How would you determine the bond that a sequencer is required to risk in the MEVA contract for a given future time window? It seems like it...
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This sounds great and is a good starting point for formalizing a threat model for the MEVA. There are a few things that seem like major challenges for this system: Added latency between transaction...
View ArticleMEV Auction: Auctioning transaction ordering rights as a solution to Miner...
Optimizing the Auction Are you assuming here that the sequencing auction for block N happens after the transactions in block N are known? I think what @karl had in mind was the sequencing auction...
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MEV Auction: Auctioning transaction ordering rights as a solution to Miner...
Interesting! The general idea seems to be to redistribute MEV from miners to some other entity, e.g. a DAO which funds public goods. Wouldn’t this basically be equivalent to leaving the MEV to miners,...
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Wouldn’t this basically be equivalent to leaving the MEV to miners, but instead send an equal fraction of block rewards to the DAO? No, because it’s not just about long-run average returns, it’s also...
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MEV Auction: Auctioning transaction ordering rights as a solution to Miner...
tchitra: What are options for dealing with this latency? In particular, how do we minimize the rounds of communication between the transaction selector and the sequencer? This could be a significant...
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Hello, I am in the business of MEV. There are some good ideas in this proposal. I have a critique and alternative proposals. Some things you say aren’t true but I won’t go into too much detail because...
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MEV Auction: Auctioning transaction ordering rights as a solution to Miner...
wjmelements: Ban or punish inclusion of transactions that would revert at the top-level. Making reverting transactions invalid is non-trivial. If you receive an unconfirmed transaction from a peer and...
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This recent paper might be relevant: it separates transaction ordering from transaction execution at the consensus layer. Read full topic
View ArticleMEV Auction: Auctioning transaction ordering rights as a solution to Miner...
FYI - we came up with these same ideas in 2018 - see here: https://medium.com/@jaybny/on-dex-fac434d7730f Read full topic
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@jaybny This is really cool! Did you come up with any fun takeaways/analysis since your first post? Read full topic
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thanks Karl. I have lots of ideas and directions on where to go with this… but am not a fan on working on top of Eth, although I love the tech and community. I actually received a patent for some of...
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We are working on something somewhat similar in application level. We decided to first tackle the lending platforms liquidation MEV. Where liquidators compete on a well defined premium, which give...
View ArticleMEV Auction: Auctioning transaction ordering rights as a solution to Miner...
There is a faster alternative. We are implementing it in our project and it could be easily implemented in ETH2 or any other finalizing blockchain. Transactions are submitted encrypted using threshold...
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A committee (say ETH2 committee) collectively holds the decryption key. What happens if the key is lost? Maybe I don’t understand how large the committee is…seems like maybe a pretty central point of...
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What is the purpose of this? Why is maximising MEV extracted a goal? It’s going to happen anyways, why do we want to speed this up? Intellectual curiosity? Market efficiency? Is any part of this...
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MEV Auction: Auctioning transaction ordering rights as a solution to Miner...
I posted about similar issues soon after the ETH ICO (nothing like as rigorous as the Flash Boys 2.0 paper of course). reddit r/ethereum - Miners Frontrunning 30 votes and 98 comments so far on Reddit...
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Just to be clear, this would result in significantly more front-running. Yes, maybe the profits would go to a worthier cause, but the average Dex trader would experience much worse slippage. Right now...
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MEV Auction: Auctioning transaction ordering rights as a solution to Miner...
Mister-Meeseeks: Just to be clear, this would result in significantly more front-running This post is absolutely bang on. Arbitrage risk is a huge deterrent in itself. I say this as an arber myself in...
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