The first rendition of was a blast!
Being able to congregate this many relevant people (searchers, solvers, market makers, trading firms) all in the same room took us several months of planning but it was well worth it!
Many interesting discussions with
🚄 Exploration of MEV Latencies
I've decided to expand on my previous piece, exploring the latencies involved in the trade lifecycle under PBS.
I also pose several optimisations and promising research areas to explore.
In collab w/ Frontier Research:
🧱 Modular Searcher Design: A Framework for Building Searchers
Searcher design is an area that hasn't been experimented much openly. Proposed is a modular framework for multi-searcher setups, contrasting monolithic designs
🧵 Co-written with
@its_mobeen
:
Frontiers 2024 by
@paradigm
has to be one of my highlights - really good curation of zero-ego developers participating and speaking to drive the next gen of open source engineers, tools and initiatives.
A couple of my key takeaways:
- Resounding sentiment: 'flashy is fake; small
🏠 For the past 2 months, I and a couple others have been piloting a co-living hacker house in London and are now starting to open it up more for any friends new and old to visit, crash or even join.
To speak about the success we've had, we've hosted people from
@aztecnetwork
,
Just bought .
Have a few thoughts about ways to make it a useful place for searchers e.g collating resources about on-chain HFT / MEV but open to cool ideas
gm gm - as mentioned, will be in NYC 1st - 13th August before then heading to SF!
Organising a searcher / trader / MEVhead social event in NYC in collaboration with
@anagramxyz
. Most likely on the 8th so let me know if you're around (would also love to meet)!
@Uniswap
@arbitrum
Finally got around to having a look at pevm () and Block-STM after a subtle nerdsnipe by the Paradigm Frontiers page - will be attending Frontiers in SF (with the first two weeks of August in NYC!) so hit me up!
Would love recommendations of what to check
gm gm - doing another one of these lists for the cool events I’m going to (some hosting / participating) at EthCC.
Will be there 5th - 12th July so hmu if you want to chat about MEV, HFT, MM, cross-chain solving, getting help joining a team, recruiting etc.
Events 👾:
Decided to create a dedicated place to crowdsource and share solver-related opportunities, interesting tools and good reads for the more technical side of searching.
Pretty insane hearing that companies have to pay for speaking spots at conference / side events - becomes a matter of who has the most money as opposed to curating the most interesting talks or discussions
Just bought .
Have a few thoughts about ways to make it a useful place for searchers e.g collating resources about on-chain HFT / MEV but open to cool ideas
Really cool seeing several research-focused firms popping up in the MEV / mechanism design space:
-
@FrontierDotTech
-
@UmbraResearch
-
@specialmech
Ultimately drives more ideas to be explored, and from differing perspectives
As more protocols like
@opensea
’s Seaport and
@Uniswap
’s V4 focus on extensibility,
@0xSami_
’s baseplate thesis becomes more and more relevant.
(Note, you can do ERC20 <-> ERC20 trading on Seaport, funny enough h/t
@0xAlcibiades
@valoremxyz
)
On a similar note, me and
@DeGatchi
are organising a casual social event for any DeFi and MEV friends in or coming down to London next week - DM either of us for details
Will be in Amsterdam 🇳🇱 speaking on the Searcher Design Space, “Modular Extractable Value” and the trading of risk on-chain all at MEV Camp.
Would love to meet up and chat at Solana Breakpoint - do DM!
🧱 Modular Searcher Design: A Framework for Building Searchers
Searcher design is an area that hasn't been experimented much openly. Proposed is a modular framework for multi-searcher setups, contrasting monolithic designs
🧵 Co-written with
@its_mobeen
:
Missed a late evening flight by getting the wrong terminal so stranded in Rome (at a hotel lobby) until the first flight in the morning - will be posting random thoughts
For those at the Flashbots salon or anyone else looking to bootstrap development of their bot to receive order-flow from OFAs such as MEV-Share, MEV Blocker,
@kolibrio_mev
,
@blink_labs_xyz
etc., this may be helpful:
@laminarlabs
Announcing , hosted by Nethermind & Flashbots!
A full day dedicated to exploring the architecture of on-chain trading, order flow, block building and the future of these evolving digital marketplaces.
Join us in
#London
to network with top minds in
𝗜𝗻𝘁𝗲𝗻𝘁𝘀 𝗗𝗶𝘀𝗰𝘂𝘀𝘀𝗶𝗼𝗻𝘀 will also welcome
@0xTaker
, Co-Founder of
@aori_io
, on stage this Sunday. Prepare all your intents MEV searcher related questions.
Don't miss it, register your intent to join ⤵️
Latency is still a major principle in the world of MEV.
Building low-latency systems for on-chain trading and arbitrage is a multi-faceted problem. However, likening it to traditional trading systems helps to understand each part.
I write about it here:
gm - will be in Denver! ✈️
Had a couple people ask what events I'm headed to so thought I'd list a couple of cool under-appreciated ones I'm going to 🧵:
Beyond the Block: MEV Along the Txn Supply Chain by
@titanbuilderxyz
and
@HashKey_Capital
:
Not at all irrational for an application to consider (vertical integrating up to a general blockchain) given how happy-go-lucky VCs are to invest in whatever barks.
At this rate, the fat protocol thesis is crypto’s survivorship bias plane.
1/
The idea of a transaction supply network is very enticing, especially as more components spin up to provide more functionalities to the user.
One interesting problem to think about is the “last aggregator” problem.
🧵/
1// how do we solve the "last aggregator" problem in DeFi? inherent benefit to being the "highest level" aggregator, and I'm not sure can be solved easily. Some examples: DEX aggregators that aggregate other DEX aggregators, baskets of stablecoins, baskets of staking derivs, etc
Hosting one of the first of the events at the hacker house with
@Hyperlane_xyz
!
If you're around London, sign up and come by this Wednesday!
@_daniel_savu
will be giving the alpha on how they handle on-chain events with high throughput.
Event Page:
🏠 For the past 2 months, I and a couple others have been piloting a co-living hacker house in London and are now starting to open it up more for any friends new and old to visit, crash or even join.
To speak about the success we've had, we've hosted people from
@aztecnetwork
,
A lot of innovation by using Uniswap v4 hooks, but almost certain we'll also see a few dangers to be wary of:
- One-way ponzi pools i.e can only buy one way
- Salmonella v2: the hookening
- Privilege escalation (if pool key isn't checked)
- Pool-state-as-oracle manipulation
🏠 For the past 2 months, I and a couple others have been piloting a co-living hacker house in London and are now starting to open it up more for any friends new and old to visit, crash or even join.
To speak about the success we've had, we've hosted people from
@aztecnetwork
,
I still think about this to this day - in fact, came up in conversation recently
Perhaps it’ll take us a step closer to optimising intent / trade execution, where block builders now become public execution platforms for both institutional firms and the lay user?
Block builders should offer DEX aggregation services
It'd give traders (some) pre-trade privacy and builders can dynamically find the optimal route at the time of execution instead of needing to find it way before execution (current standard)
Thinking of an updated version of this:
the question of why a dapp would opt for one solver network / aggregator over another is akin to the reasons one would choose one exchange over another:
> accessibility
> liquidity
> brand value
> customer loyalty
> first-mover advantage
the question of why a user would opt for one solver over another is akin to the reasons one would choose one exchange over another:
> accessibility
> liquidity
> brand value
> customer loyalty
> first-mover advantage
> available pairs
> token offerings
attending denver and another conference right after, fully heads up. this is a very important year. people should not forget that the
#1
priority in crypto is larping, and larping and larping more.
attending denver and another conference right after, fully heads up. this is a very important year. people should not forget that the
#1
priority in crypto is larping, and larping and larping more.
OH: "Card payment providers know MEV. They maximise the number of intermediaries between the customer and the merchant so they can charge fees more than once."
A DEX aggregator doesn’t need to directly compete with an orderbook.
If the book is more competitive than one's routing, an aggregator can refer to the book for improved quotes.
If the aggregator is more competitive, it can overcut on the book to capture more flow / surplus.
I don't usually use Gitcoin but thought I'd do so to support Titania Research and
@keccak255
- very cracked uppercase-R research team in the space and enjoy reading everything they release
Go donate:
Enjoyed this overview piece by
@keccak254
on a next step forward for the Ethereum blockspace market: illuminate the block building market through reputation scoring and visualising
Potential features that come to mind:
- Commitment to PGA / FCFS
- Frontruns
- Subsidies / rebates
I wrote a article to make builder reputation visible as a way to mitigate the centralization of block builders.
The builder reputation system is still underdeveloped, but I believe in its potential. Hopefully this article will facilitate discussion.