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249 posts
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Layer 0 is social consensus.
Why?
Because every blockchain relies on off-chain social consensus to agree on:
1. The state transition function
2. The fork choice rule
How does this relate to sovereign rollups? 🧵
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v retweetledi
Motivated by @kelvinfichter ETHGlobal talk, I’ve put together a rollup deconstruction to try and get to the heart of this question:
- Should we define a rollup through the lens of a validating bridge or a community?
Find out for yourself 🙋🏻♀️
stonecoldpat.substack.com/p/deconstructi…
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I think this is really importantly thing
Conor@jconorgrogan
I dumped a live Ethereum contract into GPT-4. In an instant, it highlighted a number of security vulnerabilities and pointed out surface areas where the contract could be exploited. It then verified a specific way I could exploit the contract
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One reason why it makes sense to study the broadest definition of MEV - and NOT only frontrunning - is these ~$100m/yr worth of arbs might contribute to economic centralization over time if they aren’t available to all validators.
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It is a small coup that fairness is so associated with "fair ordering" / time based ordering
There is no single notion of "fair." These protocols privilege a different set of actors and MEV extraction is a different "game" to play on them
Disclaimer: personal views
José@jose34730
The main issue with MEV and fair ordering is fair ordering doesn’t exist.
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v retweetledi
Found a clever honey pot contract
At a glance it looks vulnerable: an admin provides a string that is used as a key. Anyone that calls a function w/ 1 ETH and the string takes away 30 ETH.
So just find the admin's transaction and copy the string, right?
etherscan.io/address/0xb58c…
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Even @VitalikButerin can't escape the monsters of the dark forest
Twitter wasn't the only party watching Vitalik's wallet. As always bots were ready to extract what value they could from his pending transactions.
Brief recap of those bots and what Vitalik did
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v retweetledi
An Ethereum Uncle Bandit strikes again, this time for 145 ETH
However this time the bandit left a trail to their identity, and you'll learn who it is in this MEV story 🧵👇🏻
h/t @AlchemyPlatform for the artwork
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v retweetledi
Alright everybody, join me as I relay a heist that took place across blocks yesterday and unveil a novel form of MEV.
Again it will be a long and semi-technical journey but I think it is worth it.
@bertcmiller@bertcmiller
Alright just confirmed an insane instance of MEV extraction in the wild Buckle up for the thread I'm gonna write about this one
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If you liked Salmonella you're gonna love this
Last night someone used an *extremely* clever mechanism to take a hundred ETH from sandwich bots
Then a 2nd person jumped in and made 300 MORE ETH by exploiting other sandwich bots
Long thread on how 👇🏻
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v retweetledi
Curious about the proposed changes to our transaction ordering policy?
Read on as our co-founder @EdFelten walks us through a modified version of the first-come, first-served (FCFS) sequencing model, outlining the why, and the rationale behind it! 🚀
offchain.medium.com/time-boost-a-n…
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v retweetledi
A thread of all my MEV related threads in chronologic order 👇🏻
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⚡️🤖 Flashbots is seeking skilled and bold,
With talents diverse and stories untold.
Apply with care and meet the matchmaker's stare,
For destiny awaits those who dare.
mevmatchmaker@flashbots.net
collective.flashbots.net/t/are-you-the-…
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It’s really really good article
Richard Hanania@RichardHanania
I was skeptical of the theory that social media makes kids miserable, but did a deep dive into the data and found: *The best randomized experiments show an effect *A massive increase in adolescent mental illness across much of the developed world Thread richardhanania.substack.com/p/how-i-change…
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