ephema

Research Update: Agent-based Simulation of Execution Tickets (ETs) We are excited to share our newest research on ETs 👽 We scoped the mechanism design space for ETs and ran an agent-based simulation to evaluate several mechanism design proposals 🎰 This is what we found out 🔽 (1/10)

1/ The Ethereum protocol prices congestion correctly. Wallets don’t. • 25 days of data. • ~185k observations. • 3 wallets. One clear mismatch ↓

New wallet research more coming soon 👇

Be @Bitwise: support @ethereum open-source development tirelessly through bear and bull. Honored to be recipients alongside @ProtocolGuild, supporting critical PBS infrastructure and research for a more decentralized future with this second annual donation! 🙏

Ever wondered who the best searcher doing JIT liquidity on Ethereum is? In this research, @0xseiryu and @0xAlphaist (@NyxFoundation) map JIT activity on Uniswap v3 and identify the dominant searchers behind it.

New research into private order flow and MEV extraction just dropped by @0xseiryu 💥 → key insight: even “protected” TXs sent through private RPCs get sandwiching by few concentrated actors 🤯 more research pieces coming soon, stay tuned! 🚨

Fusaka is going live today! 🚀 final reminder to upgrade to mev-boost v1.10.1 🚨 github.com/flashbots/mev-… notable updates in this release: - allow background relay requests in v2 API - fix race condition in fallback for GetPayloadV2 to V1 - increase relay readability in logs

mev-boost v1.10 full release is out 🚀 github.com/flashbots/mev-… ‼️ required update for Fusaka ‼️ key features: Fusaka changes, new GetPayloadV2 API, Prometheus Metrics, X-Timeout-Ms header big thanks to @BharathVedarth1 & @721Orbit for their work! 🙏

🎊 Grant Announcement: @PBS_Foundation! Continued stewardship of the MEV ecosystem, including coordination across the MEV ecosystem for current and future hard forks, along with R&D for mev-boost and mev-boost-relay that supports hard fork development.

1/ On last Friday’s ePBS breakout call there was a hot debate around: Should ePBS include trustless payments, or start only with the current trusted off-protocol setup? Here a breakdown of the discussion 🧵👇

mev-boost & mev-boost-relay releases for Fusaka testnets 🚀 v1.10-alpha5: github.com/flashbots/mev-… v0.32.0-rc2: github.com/flashbots/mev-… incl. Fulu w/ v2 blinded blocks, X-timeout-ms header, getPayload to all relays, etc @sigp_io @prylabs @Teku_Consensys @ethnimbus @lodestar_eth

happy 10 years of Ethereum – believe in somETHing! ✨ Staying true to decentralization, permissionlessness & censorship resistance – also along the MEV supply chain. For open access, fair markets, transparency. 🌐 Join the official livestream here 🎥⬇️ youtube.com/live/igPIMF1p5…

mev-boost call #13 (July 23) recap 🧵 – Fusaka updates & Relay DA by @ralexstokes – "Free Option Problem in ePBS" by Christoph & @0xBrMazoRoig (Flashbots) – ePBS impact on builder/relay (auction & collateral) by @_eltitan (@gattacahq) full rec: youtube.com/watch?v=7bNRky… (1/5) ⬇️

reminder: call tomorrow to talk about changes in fusaka and impact of ePBS (candidate for glamsterdam) on MEV ecosystem

mev-boost community call #13 tomorrow 3pm UTC! - updates on Fusaka changes (getPayload V2, etc) - discussion on relay DA possibilities - ePBS (EIP-7732) and impact on builders/relays pbsfoundation.notion.site/MEV-Boost-Comm… hosted w/ @ralexstokes & mev-boost core contributors! 💫

next mev-boost community call is scheduled for next week! will discuss fusaka and potential glamsterdam impacts to builder/relay ecosystem hope to see you there! link to details in next tweet

Blockchain was supposed to free us from the chains of the traditional financial system by enabling everyone to be their own bank and own their data. Yet here we are, 17 years after the Bitcoin whitepaper was published and 11 years after the Ethereum ICO…and the world still functions mostly the same. Many have lamented over “real-world applications” and widespread adoption, but what utility has the space offered, really? If you’ve been to any Web3 conferences in the past few years, you’ve likely experienced this vibe of stagnation. NFT markets, DeFi protocols, tokens – nothing really innovative. Nothing that creates new fundamental value for anyone except the already wealthy elite. Blockchain has always been able to provide some degree of financial sovereignty, but without being able to privately transact, it’s not true freedom. The Web3 industry has been hesitant to address privacy as a core value, not just as an ethical one, but a practical one. It’s hard to build for maximal privacy that is useful, fully self-sovereign, and threat-resistant. Most people simply didn’t want to do it. As a result, enthusiasm to build in this space has plateaued. People are fatigued with the same products doing the same things for maybe a fraction of a cent less or a millisecond faster. When we started building @aztecnetwork in 2017, I wanted to see radical disruption, people building applications, products, and services that enable activities that either scale existing services or open them up to a much wider base of participants. Many people either abandoned cypherpunk ideals to chase a hot narrative, or quit their projects altogether. We kept building for maximal privacy. At @ZuBerlinCity earlier this month I joined a panel on the future of Ethereum, and to my great satisfaction, there has been an enormous shift towards embracing privacy. People are starting to realize that without it, blockchain has no utility, but they still think that enabling privacy in their applications is out of reach. People don’t seem to realize how ready the technology is. It’s not 12 months or 12 years away – privacy is here now, ready to be used. @ZKPassport is a private proof of identity application. @stealthnote_ is a private, anonymous message posting platform. @nemi_fi enables private DeFi transactions. These products are proof that self-sovereignty and financial freedom can be private and secure with blockchain, and this is only the beginning. This space is finally ready to create fundamental value for the world, to disrupt the incumbents. We are ready to break free of our chains.

@ZuBerlinCity was less than 2 weeks ago and I already miss it. Having the opportunity to talk to brilliant minds in a chill environment is unbeatable. @islanddao 3.0 next? 👀

@ConorMcMenamin9 & @aikpstouka completed research for PBSF on Preconfirmations and Ethereum’s current design, and whether inclusion & execution guarantees remain compatible with upcoming EIPs. Answer: Maybe 🤔 Short summary in our thread below👇

tune in for an exciting panel abt "L1 & future block building" w/ @kubimensah @adietrichs @nero_eth @alextes and @phildaian

RT @ZuBerlinCity: A preview for "Protocol & MEV Day" at ZuBerlin tmrw! 👀 We are excited to dive deep into the future of protocol design &…