devcon 6 / cost of feudalism towards a theory of mev
- YouTube
- IPFS
- Details
Cost of Feudalism: Towards a Theory of MEV
Duration: 00:30:05
Speaker: Guillermo Angeris, Tarun Chitra
Type: Talk
Expertise: Advanced
Event: Devcon
Date: Oct 2022
Maximal Extractable Value (MEV) is excess value captured by miners/validator. This excess value often comes from reordering, censoring, or inserting new transactions that allow a miner to front-run users' transactions. Is MEV *always* bad? Can it sometimes lead to good equilibria for users? We modify tools from algorithmic game theory and probability to prove some surprising paradoxes — *some* MEV improves trading efficiency in networks of automated market makers.
- Related
Devcon
Talk
25:21
How much security does your restaking protocol really need?
Restaking protocols have aggregated millions of ETH with the hope of securing new infrastructure on Ethereum. These services, such as ZK provers and oracles, require restaking ETH to enforce custom slashing rules. But how much ETH do these services need? And how much risk do these services place on Ethereum L1? We will formulate a mathematical model for answering these questions and present an empirical analysis of cascading risks from restaking services to Ethereum, with a positive outlook!
Devcon
Talk
17:05
Nano-payments on Ethereum
Piotr Janiu of Golem (http://golemproject.net/) presents on Nano-payments on the Ethereum blockchain
Devcon
Talk
29:15
This is MEV
MEV has largely been a field where engineering drives science, it’s now time for science to drive engineering: we present an axiomatic formalization of MEV, the theory based on it, and the new applications that it enables.
Devcon
Talk
09:40
Liquidity on Blockchains
Casey Detrio presents on Liquidity on Blockchains with Batch Auctions and Smart Markets.
Devcon
Talk
21:39
Programmable Incentives: Intro to Cryptoeconomics
Karl Floersch presents their talk titled, "Programmable Incentives: Intro to Cryptoeconomics"
Devcon
Breakout
05:07
Transparent Dishonesty: Blockchain Front-running Taxonomy
Front-running has been an issue in financial instrument markets since the 1970s. With the advent of the blockchain technology, front-running has resurfaced in new forms we explore here, instigated by blockchains decentralized and transparent nature. In this paper, we draw from a scattered body of knowledge and instances of front-running across the top 25 most active decentral applications (DApps) deployed on Ethereum blockchain, and an instance of abnormal behaviour of a mining pool to participate in an ICO. We also introduce a taxonomy of front-running attacks on blockchain and map the proposed solutions to front-running into useful categories. Published at Financial Cryptography and Data Security 2019: https://arxiv.org/abs/1902.05164
Devcon
Talk
30:33
A Modest Proposal for Ethereum 2.0
Vitalik Buterin gives his talk titled, "A Modest Proposal for Ethereum 2.0"
Devcon
Talk
28:17
A Mechanism for Pricing Non-fungible Resources: Toward Multi-dimensional Fee Markets
We propose a new mechanism for multi-dimensional resource pricing in blockchains. Currently, many blockchain systems operate with either fixed transaction fees or fixed relative prices of different resources (e.g., compute, memory, storage). Our proposed mechanism prices resources independently and automatically in a way that maximizes some utility set by the protocol designer.
Devcon
Talk
17:34
Amplifying Consensus Participation with Blockspace Markets
In order to maximize staking participation post-merge, we need to provide capital markets for blockspace demand. This can come in the form of Yield Tokenization (e.g. Swivel, Element), blockspace reservations (e.g. Eden Network), or direct exchanges (e.g. Alkimiya), however composable infrastructure is necessary. With composable infrastructure on the capital markets layer, we can create interesting instruments such as combined staking+lending+options products, and derivative stablecoins.
Devcon
Talk
25:07
Evaluating the PBS Experiment: Early insights from MEV-Boost and the Builder Market
PBS is a major change to the core Ethereum protocol. It attempts to minimise negative effects of MEV by delegating block building to a market of block builders. This talk would cover what we have learned from the rollout of mev-boost, focusing on what is happening in the builder market, and what this means for the future of in-protocol PBS. What are the main improvements that we can make to the PBS design in response to how this prototype version is performing?