Add section on MEV after The Merge #7333
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Describes the risks that MEV extraction poses to Ethereum under proof-of-stake and evaluates two solutions to curbing negative impacts of MEV in post-Merge Ethereum (Proposer-Builder Separation and MEV Boost).
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MEV Boost isn't necessarily one of two solutions to "MEV after The Merge" as much as it is one implementation (albeit, likely the only implementation that will be widely adopted) of the Ethereum Builder API. (https://github.com/ethereum/builder-specs) I think this might be confusing to readers who might confuse Flashbot's software implementation of the Builder API (named MEV-boost) with the "MEV after The Merge" solution itself, the Builder API.
I described MEV Boost as "one of two solutions" because it made sense to include a solution that people could use now, as opposed to in-protocol proposer-builder separation which is far off into the future. Yes, it implements Builder API specs, but I doubt that changes anything.
Yes, MEV Boost is but one implementation of the Builder API, but I think the chances of readers confusing the two by reading page is low. There's no mention of MEV Boost in reference to the Builder API--the closest is a line that says, "MEV Boost uses a modified version of the Engine API that allows consensus clients to request execution payloads from execution clients." Perhaps listing the Builder API as the other "solution" to MEV, instead of MEV Boost, would have also worked, but the latter provided a ready example of how it worked in practice--so I used it instead. And as you say, MEV Boost will likely be the most used implementation of the Builder API, so having an explainer for readers on it wouldn't hurt. (Also, the Builder API specs were based on the original MEV Boost proposal, if that's saying something). |
Reworked the page to emphasize the Builder API.
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Hey @ThreeMuskets12, I reworked the page to better emphasize the Builder API. Let me know what you think about the additions. And thanks for pointing out the issue in the earlier version. |
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| As DeFi grows and increases in popularity, MEV may soon significantly outweigh the base Ethereum block reward. With that comes a growing possibility of selfish block remining and consensus instability. Some consider this to be an existential threat to Ethereum, and disincentivizing selfish mining is an active area of research in Ethereum protocol theory. One solution currently being explored is [MEV reward smoothing](https://ethresear.ch/t/committee-driven-mev-smoothing/10408). | |||
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| ## MEV after The Merge {#mev-after-the-merge} | |||
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Feel like this wording worked when TM was still looming --now it is in the past maybe we refer to "MEV since The Merge" or "PoS-specific MEV" or similar?
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Does "MEV in Ethereum Proof-of-Stake (PoS)" sound good? I like "MEV since the Merge", but it may not be ideal for SEO.
Alright, then. Thanks for reviewing. |
- Changed "MEV after The Merge" to "MEV in Ethereum proof-of-stake" - Added mevboost.org to resources section
Describes the risks that MEV extraction poses to Ethereum under proof-of-stake and evaluates two solutions to curbing negative impacts of MEV in post-Merge Ethereum (Proposer-Builder Separation and MEV Boost).
Related Issue
#7271