Flashbots, a research organization for miner extractable prices (MEV), released a report saying that the Ethereum client MEV-geth has attracted 58.8% of the entire network’s computing power. At the same time, the gas fee of the Ethereum network has recently dropped to a new low this year. The discussion heats up.
Most people believe that “MEV steals user value”, and Flashbots and KeeperDAO, which are designed to “mitigate the MEV crisis”, have also begun to attract attention. But Philip Daian, the proponent of MEV, expressed a different point of view. He believes that “MEV is justice.”
In any case, MEV has become a basic concept in Ethereum economics and will play an important role in the coming time. But what exactly is MEV? What is its impact on the Ethereum ecosystem? This issue of selected chain news takes everyone to understand the principle mechanism, research progress and popular projects of MEV.
What is MEV? What is the impact on the Ethereum ecosystem?
” A beam of light in the dark forest of Ethereum: Understanding the game under the MEV competition “
MEV may have developed and formed a profit redistribution market triggered by transaction transparency. Flashbots is expected to bring order to the dark forest, eliminate free-riding behavior, and enable stakeholders to form a new game balance.
” Paradigm: A Comprehensive Interpretation of the Extractable Value “MEV” of Ethereum Miners “
The complexity of Ethereum and the explosive growth of DeFi applications have made the miner extractable value (MEV) problem faced by Ethereum more severe than Bitcoin.
” Philip Daian: MEV is Justice “
MEV is the basic element of the cryptocurrency experiment, and it logically follows the cryptocurrency experiment.
“In- depth analysis of the Ethereum block space market: new models will emerge in the mining cycle “
Block space market, MEV, and dark forest will give birth to a new model of the Ethereum mining cycle.
” Ethereum MEV controversy heats up, Offchain Labs co-founder puts forward 5 arguments “
Not all protocols face the same situation. DeFi protocols can be designed to reduce the chance of preemptive transactions.
“The MEV withdrawal volume has exceeded US$300 million in the past two months. How will the Ethereum ecosystem be affected? 》
MEV is inevitable. In order to alleviate the crisis, extraction must be done in a trustless, fair and efficient manner.
” The disorderly era of Ethereum is coming: Will MEV hurt the interests of ordinary users? 》
The MEV-Geth implementation mechanism has changed the expected transaction ordering rules in the original network, and may have already harmed the interests of users in the ecosystem.
Flashbots
” Does Flashbots really alleviate the problems caused by MEV “
On April 5th, Stephane Gosselin, a former Numerai architect who is one of the initiators of Flashbots, tweeted that the Ethereum computing power supporting Flashbots has reached 27%. After just a week, the supported computing power has more than doubled to 58%.
” Understand Flashbots’ first product MEV-Explore: How to quantify MEV and make Ethereum more fair and transparent? 》
You can see these shocking numbers through MEV-Explore: since January 2020, at least $314 million worth of withdrawable MEVs on Ethereum has been captured, 88.5% of which were captured by DeFi traders and arbitrage robots, and the remaining 11.5 % Value is captured by miners in the form of transaction fees.
“The spread of the Ethereum Dark Forest is accelerating. How can Flashbots alleviate the “miners can extract value” crisis? 》
The competition of DeFi arbitrageurs has caused external influences and actual risks such as blockchain network congestion. Flashbot aims to reduce these risks.
” How to alleviate the Ethereum MEV crisis? Understand the working principle of Flashbots two products “
Learn more about Flashbots organization details, research routes and start-up projects.
KeeperDAO
” Understanding KeeperDAO in Three Minutes: Let DeFi Arbitrageurs Cooperation and Mutual Benefit “
Compared with competition, cooperation among arbitrageurs can obtain greater benefits.
” Ethereum MEV Value Guardian: A Brief Analysis of the Operating Mechanism of Flashbots and KeeperDAO “
Flashbots and KeeperDAO are essentially redistributing MEV value, protecting Ethereum from the MEV arbitrage behavior between miners, and democratizing value extraction.
” Redistribution of MEV value: KeeperDAO will cooperate with Flashbots to coordinate the interests of DeFi participants “
MEV cannot be eliminated, but MEV rewards and value creators can be coordinated in a certain way.
” Redistribute MEV and learn about the new feature of KeeperDAO “Hidden Game” “
Ethereum’s on-chain profit opportunities are prevailing. Can KeeperDAO change the rules of the game?
Disclaimer: As a blockchain information platform, the articles published on this site only represent the author’s personal views, and have nothing to do with the position of ChainNews. The information, opinions, etc. in the article are for reference only, and are not intended as or regarded as actual investment advice.
