Millions of 🤖 live for milli-seconds to make the market turing complete, who will be the last human standing?
I live till I decentralize.
Pi-Rate $HIP ⚓🏴☠️
SPV for Surplus Human Capital Mining:
Flash Organization: Flashmob w/ phase transition b/t open community & value-capturing temp constructs👷
Application Specific Task Force: ASIC of heterogeneous capital formation w/ a count-down timer🏴☠️
MicroDAO: microbrewery of DAOs🐄
The first irl MEV unconference is coming to Amsterdam.
10am-6pm, Friday, Apr 22
@EFDevconnect
8 hours, dark vs. light mode dual stages in action.
Agenda is up, ticket application ends soon, visit (yes, this is the link)
Happy birthday beacon chain!
Here's an updated roadmap diagram for where Ethereum protocol development is at and what's coming in what order.
(I'm sure this is missing a lot, as all diagrams are, but it covers a lot of the important stuff!)
discovered a ⚡🤖 secret santa 🎁:
a steward went out of their way and quietly posted all of our MEV Roast and research workshop videos on YouTube before the holidays, to make them more accessible for the community...
... The Cathedral and the MEVzaar
10am-6pm GMT, Mar 12, London
Registration:
Livestream:
Agenda is live now on (Yes, that's the link!)
Pre-reading homework will be up tonight.
Prep
Save the date(s)! Devconnect is scheduled to take place in Amsterdam between 18-25 April 2022.
Check out today's post for news on the schedule and the first announced events, our Co-Work space, an Amsterdam city guide, Volunteer call and more!
Unedited video of
#darkmode
&
#lightmode
video recaps are up:
Video upload (Youtube) + slides updated (
#darkmode
ONLY for now):
Now sit back and enjoy 2x speed run of .
The first irl MEV unconference is coming to Amsterdam.
10am-6pm, Friday, Apr 22
@EFDevconnect
8 hours, dark vs. light mode dual stages in action.
Agenda is up, ticket application ends soon, visit (yes, this is the link)
Just saw this, dunno why my eyes are tearing up. 🤍
Everyone in the
#Flashbots
community has their own journey. This reminded me of how and why the first few of us got together, now almost 1 year ago.
So this was my last night...
I didn't even know this was being written while we tried to recover as much as possible.
Was quite a hackathon. Maybe I should write the other POV of how events unfolded 🤔
I am a fan of
@AndreCronjeTech
however I beg to differ:
#Flashbots
has the luck of attracting a community of founder level talents WITHOUT A TOKEN in this noisy bull market.
Each day I wake up (or skip sleep) excited to work on the mission critical MEV problem w/ THE AVENGERS.
4.8x leverage on BTC without borrowing, a
#YellowHat
from Beijing just spun up a decentralized BitMex contender on mainnet with a pretty gnarly UIUX hack over a scalar market base. PERP coming soon. Welcome comments
@tomhschmidt
@0xlildex
@joeykrug
@zhusu
MEV Day
@ZuBerlinCity
is starting NOW.
- Don't Overload the Proposer
@VitalikButerin
- Overload the Execution Proposer Instead
@barnabemonnot
- Ethereum R&D In-Protocol vs. Out of Protocol Symbiosis
🔥 MEV Roast: Are we building the same damn thing?
I have tremendous respect for the intellectual rigor and lucidity in strategic thinking of
@hasufl
throughout the years.
Super excited to embark on my 2022 journey with the brilliant minds at Flashbots, the home for founder-level talents 🦄
Starting this week, I‘m leading Strategy @ Flashbots. This team has both the right vision and talent to shape the future of crypto and I‘m very excited to be a part of it.
2020, end of the era.
Long gone were the mid summer days in Argentina felt like another life, where Diego would come by the field and check out our games.
He hated the paparazzi, but would always reserve his smile, to the kids who truly love the game like he did.
Design
#Flashbots
the org as a sandbox MMORPG for every type of players (humans w/ their bots⚡️🤖):
ferocious pvp killers,
challenge achievers,
social players,
quest explorers?
From convos w/ funds, series A/B startups, protocols, DAOs, one thing surprisingly common regardless of org structure/philosophy:
Role clashing is an inevitable pain as orgs grow and scope change. At least 3 high profile orgs spent months last year on internal role definition.
MEV WEEK PARIS - agenda is up.
DYOR. Reply w/ research questions here at . Let's keep crypto decentralized.
- What is PBS and where are we today? What are the hardest consensus & market design challenges on the Ethereum L1 PBS
Looks like retail focused VC investors and these loud trader background crypto funds have too much money to sling around...
they don't read code
they don't read documentation
they don't do data analysis
🤦
6/ Our investment thesis is that rational arbitrage traders will continue buying and staking EDEN until the value of staked EDEN is equal to the discounted cash flow value of expected future arbitrage profits on Ethereum.
Read more here:
Flashbots arose from ⚓ MEV Pi-rate Ship ⚓ research collective, took shape over time thru periodic (often heated) community calls "MEV Ship Treasure Map Roast". 🏴☠️
Join us tomorrow at our semi-monthly tradition w/ 🔥Roast Master
@danrobinson
🔥 in navigating the Dark Waters.
Professors get paid MILLIONS by crypto projects choose not to disclose conflict of interest, are the only ones who have the RIGHT to define "fairness", compared to mkt and plebs researchers like us?
THANK YOU 4 YOUR ELITISM.
Precisely why I wanna build an open research org.
NYC
#FlashGirls
Pi-rates are starting to sail away. Next stop, SF after
@EthereumDenver
.
Looking for a spare house / room / couch / boat as a West Coast Mothership for the Pi-rates: another pop-up hacker house to mine surplus human capital.
(2020 v. 2019)
The first
#flashbots
v0.2 block has been mined.
This is a great ELI5 thread on the major feature in our latest v0.2 release: bundle merging⚡🤖
Find out more:
(
@drakefjustin
does this count as a website🤔)
Today Flashbots releases v0.2 and introduces bundle merging. That means that Flashbots miners can now mine multiple bundles per block.
A thread digging into this huge release and what that means 👇🏻
2023, ETHconomics meets MEVconomics
Together we will explore the economics of MEV with contributors across research and development.
See you on in 〜30mins!
a century ago, philosophical movement around logic arose from meetups of:
⭕Vienna Circle🔴
last night
#flashbots
meetup sparked creation of a MEV research hub:
⬜Vienna Square⬛
algorithmic bribery mkt, mempool privacy & consensus design... depth of discussion blew my mind 🤯
if you are interested in MEV and block building, you should follow
@SheaKetsdever
thanks to her (and team ⚡🤖), we have a performant TEE builder producing blocks and refunds users on Ethereum main net, today.
If you wonder why it's kind of a big deal, check out ETHcc video
1/ Introducing gas refunds from Flashbots — the open, permissionless alternative to proprietary orderflow deals.
As of July 8th, gas refunds are available on all transactions sent to Flashbots Protect and Builder. The refund rule is open source and executed securely in TEEs.
More than a 🚿 shower thought:
MEV research-athon
explore design tradeoff of 10+ order flow auctions on Mar 3-4 at the pirateship hackerhouse 🏴☠️
@EthereumDenver
form your Special Purpose Vessel w/ game theorists + data wizards + (re)searchers
come4 whiteboard or whiteclaws
From MEV-geth to MEV-boost, ⚡🤖Flashbots has come through a cycle of innovation:
problem -> research -> spec -> reference implementation -> bootstrap -> critical infra-> ?
If not an EIP, not an ERC, not an app, what does community stewardship of MEV-boost R&D process look like?
The Builder Olympics: a hackathon style event focused on block building.
Participants are given a dataset of bundles and compete to prove they are the best. e.g. most profitable block, most simulations run, coolest feature, etc.
Who is in?
i'm sick of the bloody leeching in the mev space
projects with blood on their hands
who makes $$$ by extracting from users, then
raise their rounds by claiming they "solved mev"
then stabs in the back those teams that makes $0 working on the thorny problems in the open
you
Denver now feels like a fallen Omicron Zombie town after 12,000 people crammed into ETHDenver, mostly mask-less...
Eating breakfast in a rather empty hotel lounge, at least 2 tables of hotel guests are coughing. Been on Ubers where drivers have been coughing...😱
If you are working on something deeply technical in crypto, and you know your stuff, no matter how early, talk to Paradigm.
They get it, and will be there for you.
Along our Flashbots journey, Paradigm feels like an on-demand SWAT team, augmenting our
Paradigm is looking for EIRs and deep collaborations at the seed/A stage.
Bring your own idea, or collaborate on one of ours. Either way, work closely with our investing and research teams to bring a project to life.
We currently have the bandwidth for 3-5 of these projects...
This is beyond
#optimism
.
Woke up from headache after a bad day to make the run for my flight.
Clocks ticking. Airport security turned luggages upside down.
Gate closed on me.
Just when I was giving up, gate reopens 5min post take off, all because
@jinglanW
won't stop trying.
Everything you need to know about⚡🤖 @ DevCon Week:
- Flashbots researchers giving 4 talks at DevCon
(Major alpha leak:
@phildaian
talk on Oct 14!)
- Flashbots is hosting a full day of MEV Workshops on Oct 14, right next to DevCon venue
⚡🤖 portal:
- What is "flashbots"?
- What value creation activities in the high entropy space of MEV qualify as "make"?
- What lends legitimacy to "money"?
Wanna sort this out together with the most brilliant and interesting group of people I have encountered? 👉
"I am upset TEE became hot because it seems to be able to do cool stuff that hurts my project's narrative.
But I was too busy networking rather than going to any of the security and cryptography research talks or have a real conversation with TEE researchers during Ethcc...
Announcing at Modular Summit!
Co-created with Flashbots, will dive into the most critical Proposer-Builder Separation (PBS) research questions that define our collective mission to keep crypto decentralized.
My fourth win at
#Ethereum
Global hackathon, Finally earned back the plane ticket through our hard work on
#LSDai
. So pleasantly surprised to win back my plane tickets, Thank you my dearest
#YellowHatDao
hackers, thank you
#ETHBerlinZwei
!
If you wanna do more to provide insights on MEV activities and externalities, roll up your sleeves and join us in illuminating the dark forest, starting by contributing to mev-inspect py:
mev-inspect-py continues to level up
Thank you to the
@MarlinProtocol
team for their PR adding support for geth traces!
This is a big step towards us shining a light on the dark forest of MEV on other chains besides L1 Ethereum
@hasufl
1. Lost in Translation (2003)
2. Her (2013)
Intrigued by reflexivity of life and art:
1 was created based off meeting 2's director, the two got married then divorced, then each moved on and created art that inspired millions.
3. Memento (recent maybe)
The directors of the movie 'Her' and 'Lost in translation' were married till 2002. In 2003 Sofia Coppola released 'Lost in translation' to which she later admitted figuring out her marriage at the time of writing it. Years later Spike Jonze released 'Her' in response.
Check out
@ETHGlobal
finalist "Ray Tracing"
when research meets hackathon: the poetic fluid collab on prototyping the future of MEV post the Merge
h/t to
@nethermindeth
@LidoFinance
and
#flashbots
involved in making it happen so fast⚡️
Wanna compare how Privacy in the MEV space progressed?
Jan 2021 Privacy Roast agenda + slides + recording:
Secret Network presented SGX security
Jan 2023 Privacy Roast agenda:
@socrates1024
presents SGX attacks on Secret…
After a one-year hiatus, the MEV Roast is finally back, with your new hostess
@sarahalle_
... And Roast Master
@drakefjustin
@andrew
🔥Spicy takes only!
It's not just between miners & devs, it's between miners & the entire community.
Miners are not faceless entities. There's so much nuance in microstructure of industrial organization of block producers that few bothered to look past the label in assuming incentives.
99% of Twitter discourse about MEV has chosen to ignore formal definitions, and instead using the term inconsistently where convenient:
1) either something their product claims to solve
2) or something they dislike within ethereum
glad there are still people bothered to read !
@ThogardPvP
@NathanWorsley_
Isn't MEV a measure of theoretical extractable value anyway (being active)? I use the term REV (realized) to differentiate but idk if the distinction is useful.
1. Attacker RETURNed 126,014 PAX
@PaxosGlobal
to LendF admin w/ a note:
"Better future"
2.
@LendfMe
admin replied
"Important messages, pls check your email"
2. Good recap by
@SlowMist_Team
“Details of Reentrancy Attack”
being in the war room this morning with
@samczsun
@drakefjustin
@metachris
investigating and patching up the mev-boost relay
reminded me of the war room 2.5 years ago...
mev-boost and relay are public goods infra that need as many eyes and hands on it
Block 16964664: A user managed to drain five MEV bots by exploiting a bug in mev-boost-relay.
Here's the block:
Here's the user:
Here's the patch:
Here's the longer explanation:
In fact "miner" can mean: the machine, the owner of hashrate, the pool operators & many other service providers.
Miners wear many hats, may run OTC, lending services, and often invest deeply into ecosystem.
Miners have skin in many crypto ecosystems, mining multiple chains.
Backrunning ETHcc 2022: a MEV salon
a pop-up MEV hangout on the last day of
@EthCC
with 5ACs
We are overcapacity already, but maybe hanging out till late afterwards, DM me if you are interested (and why), I can try my best to keep you posted if there's room!
MEV 4D Chess in the Blockspace Bazaar
- Market dynamics of blockspace market
- MEV on ETH 1, L2s & ETH 2
- A true seal-bid MEV auction
Join us for Flashbots
#MEVRoast
this Thursday (Mar 25) 8am PT/11am ET/3pm UTC
w/ Roast Master
@VitalikButerin
Agenda:
t/acc-ing for the 12th hour till 10pm
whiteboarding for 5th hour on TEE Time at a lovely teahouse called Tea Time
our typos funnier as the night goes on
3rd TEE salon since ethcc
we are getting closer faster each time
moments of collective mindshare
this is how we hack time
In a world with power asymmetries, building the grounds for autonomous confidential computation is a means to gain a strategic advantage.
We are calling on a broad alliance to unite in building a trustless, open-source, tamper resistant TEE.
@tzhen
@notscottmoore
@_markel___
what
#flashbots
crew hangout irl feels like:
meeting the brilliant minds hidden behind the always-online multi-timezone masquerade of aliens, anime and bots
I have seen this sentiment in a few different places, so I want to clarify things:
This is *not* the Flashbots approach
Flashbots has not created, nor do we have plans to create, software to facilitate reorgs
We will share more about our perspective ASAP
My favorite talk yet at thus far.
Censorship Resistance: An Economic Model and a Solution
, where we go deep on the formal definition of censorship, and identify the choke points on the network,
happening now at MEV Pi-rate Ship,
The Parisian Salons, where women's voice was first heard leading in public intellectual discouse, and where civilians of all social classes gathered to discuss ideas, sew the seeds of a Revolution.
Join us at 4pm for at our MEV Pi-rate Ship hacker house,
co-creating the TEEstack @
90% of the room is actively using TEEs in their projects
75% of the room has been working on TEEs for the past 3 years continuously
4 hands stayed up of those who have been working on TEEs for the past 10 years
new record for "no-call friday":
non-stop calls for 10 hours🤯
kinda miss the simple fun days last year this time, when we were wondering if anyone was ever gonna use flashbots...⚡🤖
Explore the intersection of AI and crypto from first principle with us at in less than 13 hours.
Agenda:
Livestream:
Map your stance on each topic on linked on the agenda.
Wanna hear non-BS takes on the synergy between crypto and AI?
How can the two communities work together on concrete problems?
come to @ Zuzalu
09:00 - 19:00 (GMT+2) on Sunday, May 7, video link:
Wanna find out what
#Flashbots
has been up to?
Wanna be part of our collective in tackling
#MEV
?
Join us for our 1st monthly 💡Flashbots Community Call Thursday at 9am PST / 12pm EST / 5pm UTC for:
⚡Progress Update
🤖 MEV Searcher Workshop
📆 Link:
螳螂捕蝉,黄雀在后。
~$3M worth has been returned, look forward to
@BreederDodo
's post-mortem on this action-packed plot twists of this Dark Forest episode with happy ending:
Hacker got crushed by non-colluding Good Samaritan generalized frontrunners🤖
who also got sniped...
Is it dead or has it just gone to bed?
@BreederDodo
was hacked using a fake token attack, but the motive remains unclear.
One thing’s for sure, whether hat white or black...
Only $2 million? Must try harder.
Research-a-thon: concentrated dosage of whiteboarding meets hackathon.
20-30 researchers, self select into 5-8 teams,
choose any of 3 downhill research Q's.💡
1 weekend of workshops on proposals,
1-week blog-a-thon / prototype,
1-month to blogpost & presentation on conference.
The irl MEV Roast on Latency is finally happening, NOW.
Hosted by
@different_mj
, with
@tarunchitra
@zmanian
and surprise guest
@harrycanuck
from Arbitrum.
A roomful of searchers from flashbots discord just flocked to the front row...
(Reading hw: )
an unexpected turn of events on turkey day:
✅ got my turkey coffee read by a high school dropout Syrian fortune teller
✅ became a shrink for the fortune teller
✅ celebrated chaos theory
✅ contributed to study of conflict resolution amongst Syrian refugees
(anthropology
Woke up and saw
#Flashbots
mentioned across major Chinese DeFi & crypto channels, received DMs from Chinese devs asking about how to contribute.🤩
Props to
@fishkiller
@ChainNewscom
for translating Flashbots into Chinese before we got to it ourselves!
Diversity of interpretation matters.
Playing up human fears in crisis to shut dissidents down is a common tactic for control.
We can easily fall down the slippery slope of succumbing to what gives an inkling of certainty in chaos.
Listen with a critical mind.
The reaction to
#COMP
liquidity mining in Chinese DeFi communities is way more critical about the hype, compared to crypto Twitter. Many great fundamental questions were asked, and many points to the potential risk.
Many still remember getting burnt by
#Fcoin
.
@tomhschmidt
Make love, not (gas) war.⛽
Flashbots adoption should relieve network & chain congestion caused by frontrunning/backrunning bots.
Our PoC MEV-Geth enables a sealed-bid block space auction for communicating tx order preference. Open-sourced from day 1:
The Parisian Salons, where women's voice was first heard leading in public intellectual discouse, and where civilians of all social classes gathered to discuss ideas, sew the seeds of a Revolution.
Join us at 4pm for at our MEV Pi-rate Ship hacker house,
MEV WEEK PARIS - agenda is up.
DYOR. Reply w/ research questions here at . Let's keep crypto decentralized.
- What is PBS and where are we today? What are the hardest consensus & market design challenges on the Ethereum L1 PBS
From MEV-geth to MEV-boost, ⚡🤖Flashbots has come through a cycle of innovation:
problem -> research -> spec -> reference implementation -> bootstrap -> critical infra-> ?
If not an EIP, not an ERC, not an app, what does community stewardship of MEV-boost R&D process look like?
It's painful to see crypto projects still trapped in "marketing budget" mindset...
Rather than spending millions buying 5min fame in the ADHD CT, so much more impact and value can be generated via funding research, ecosystem tooling, dev hubs (esp. in underdeveloped world).
1 hour in to the 7.5 hours MEV marathon unconference, quality of talks and panels so far has lived up to it's rep.😜🏴☠️
Slides and latest agenda:
Livestream:
When meets
#MEVroast
... Time for (this is the agenda link)
TODAY at 11:30 ET, let's go deep on MEV:
1 Evolution of MEV
2 Framing the MEV Problem
3 Protocol & app-level solutions
4 MEV minimization vs. democratization
1/ Most gas fee estimators for Ethereum use backwards facing gas prices. This causes users to submit txs with gas price which would've been high enough in the past blocks but not high enough for the next block.
@sparkpool_eth
built a forward looking tool:
Ultimate relayer's privacy utilizing
@bertcmiller
Flashbots framework. The withdrawal zkproof could be send directly to miners. Here is an example of such tx:
🔥
I got mugged by a deranged man, in broad daylight on the sidewalk of SOHO, just now.
Luckily some kind new yorkers formed a circle and helped me get up.
Some tried to run after the guy, but stopped when he shouted:
"what you gonna do? I just got out!"
NY feels like Gotham.