Research Pulse #76
“Towards a Theory of Maximal Extractable Value I: Constant Function Market Makers" by Kshitij Kulkarni, Theo Diamandis, and Tarun ChitraTLDR:MEV once stood for Miner Extractable Value but the advent of new value extraction strategies has broadened its scope beyond mining.This paper formulates the notion of Maximal Extractable Value mathematically to include not only transaction ordering but also block reorg attacks akin to those presented in Flashboys 2.0, the seminal MEV paper.In addition to...
Research Pulse #76
“Towards a Theory of Maximal Extractable Value I: Constant Function Market Makers" by Kshitij Kulkarni, Theo Diamandis, and Tarun ChitraTLDR:MEV once stood for Miner Extractable Value but the advent of new value extraction strategies has broadened its scope beyond mining.This paper formulates the notion of Maximal Extractable Value mathematically to include not only transaction ordering but also block reorg attacks akin to those presented in Flashboys 2.0, the seminal MEV paper.In addition to...
