Wisdom of DeFi by EigenPhi: MEV Spaces

MEV Inside the Rug: The 94-Layer Triple-Evil Sandwich

EigenPhi — Thu, 30 Oct 2025 11:32:28 GMT

Myth: “MEV and rug-pulls are separate.” False. This case shows a triple-evil sandwich: a taxed token, a 94-layer sandwich, and a timed rug in the same block. One operator ran the token, the pool, and the bot.

💡 What you’ll learn

The triple-evil model: taxed token → layered sandwich → mint-and-drain rug
How malices are done

🔍 CASE STUDY DETAILS

This is educational content only. We do not endorse MEV bots or provide financial advice. Always DYOR (Do Your Own Research).

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, Pocket Casts, and YouTube Podcast.

Wonder if you have any misconceptions about MEV? Download our latest free e-book: MEV Myth Busters - From Microstructures to Macro Impacts.

Preview MEV Space #13: MEV in the 2nd Decade

EigenPhi — Wed, 29 Oct 2025 11:52:21 GMT

As Ethereum enters its second decade, one question cuts through the noise: Who will set the rules for MEV over the next 10 years?

In MEV Space #13: MEV in the 2nd Decade, we’ll examine the next phase of MEV from the builder, middleware, DEX, and validator angles:

Latest developments: What’s live right now across TOOL, Angstrom, Commit-Boost, and P2P.org? Where can listeners test?
Guarantees that matter: Inclusion vs execution vs success.
Clean composition: How middleware, proposer sidecars, and app-level sequencing avoid double promises.
Upgrade outlook: ePBS + trustless payments—biggest likely impacts and how each project will respond.

Join us with:

Sen Valitov, Co-founder of NuConstruct and TOOLS
Ludwig Thouvenin, Co-founder of Angstrom by Sorella Labs)
Drew Van der Werff, Shepherd of Commit-Boost
Pavin Yashin, Researcher of P2P.org
Co-Host: Benjamin Hunter — VP Engineering, BTCS

When: 10:30 AM ET, Oct 30

Where: 👉 X Spaces

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, Pocket Casts, and YouTube Podcast.

Wonder if you have any misconceptions about MEV? Download our latest free e-book: MEV Myth Busters - From Microstructures to Macro Impacts.

MEV Space #12 — DATs: From Balance Sheets to Block Builders

EigenPhi — Tue, 07 Oct 2025 11:44:20 GMT

Digital Asset Treasuries (DATs) are no longer “hold-and-hope” vehicles—they’re operational, data-driven machines where definitions, disclosures, and design choices move prices.

This is the 12th episode of MEV Space, which brings together the sharpest minds in crypto to dissect the evolving MEV landscape and beyond.

In this episode, we answer questions like:

Which single disclosure would actually close a DAT’s mNAV discount?
If real-time attestations invite front-running, what cadence keeps data honest without feeding predators?
When dashboards disagree, whose “reality” should investors and DAOs trust?

Why this episode matters

DATs sit at the intersection of public markets, on-chain execution, and governance. We surface the uncomfortable bits—fees vs. revenue, mNAV vs. “ETH per share,” real ops vs. balance-sheet cosplay—and then offer concrete fixes you can ship next quarter.

What you’ll hear

Danning Sui (Head of Researcher, Pantera) on getting past vanity metrics: clean revenue definitions, ETH-per-share growth, and why self-reported, real-time data needs guardrails against HFT/MEV gaming.
Jake Koch-Gallup (Researcher, Messari) on moving from TVL theater to near-real-time attestations of positions/strategy/yields—and why culture and retention often lead the numbers.
Charles Allen (CEO, BTCS) on valuation that prices operations & management (validators, builders) and why “cards-up poker” disclosure can harm shareholders if cadence/materiality are wrong.
Benjamin Hunter (VP Engineering, BTCS) on how tokenization-level transparency will expose dilutive deals and discipline financing games.

Myths we puncture

“Fees = revenue.” Not across venues or wrappers.
“Active addresses = users.” Bots and incentives wreck that shortcut.
“Real-time disclosure is always good.” Not if it turns your balance sheet into an attack surface.
“DATs converge to MNAV by magic.” Without redemption or differentiation, some stay stuck.

The fix kit (steal this)

Public schemas for standardized revenue and per-share metrics.
Inclusion receipts (builder-side telemetry) to make neutrality auditable.
Attestation cadence (not necessarily “real-time”) that’s reproducible, provable, and hard to game.
Deployment visibility: where assets sit in DeFi, why, and at what yield.

Listen, then act

After the episode, publish one metric by default next quarter (definition + refresh rate), retire one misleading KPI, and sketch a 4-field public schema your org will maintain. That’s how “nice charts” become accountable decisions.

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Wonder if you have any misconceptions about MEV? Download our latest free e-book: MEV Myth Busters - From Microstructures to Macro Impacts.

DAT Uncovered: The Hidden Layer Behind Token2049’s Biggest Conversations

EigenPhi — Tue, 30 Sep 2025 12:08:31 GMT

As Token2049 Singapore unfolds, one question cuts through the noise: Who will manage the treasuries of tomorrow’s token economy?

In EigenPhi MEV Space #12: Everything You Need to Know About DAT, we’ll explore Digital Asset Treasury Companies (DATs) from every angle:

Defining DATs: What is a digital asset treasury, and how do Pantera, Messari, Sharplink, and BTCS already interact with them?
Metrics today vs. tomorrow: How do we measure the value or success of DATs now, and what benchmarks will matter when DATs emerge as a recognized asset class?
The missing data: If you could add one or two datapoints to make DATs more transparent, what would they be?
DATs vs. ETFs: Are these comparisons helpful—or do they miss the mark on governance, disclosures, and strategy?

Join us in EigenPhi MEV Space #12: Everything You Need to Know About DAT with:

Michael Camarda (@mcamarda0), Head of Corp Dev, Sharplink
Jake Koch-Gallup (@immutablejacob), Researcher, Messari
Danning Sui (@sui414), Research Director, Pantera
Co-Host: Benjamin Hunter (@philosowrapter), VP Engineering

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Wonder if you have any misconceptions about MEV? Download our latest free e-book: MEV Myth Busters - From Microstructures to Macro Impacts.

MEV Space #11: How the Data Builders Define Reality

EigenPhi — Thu, 11 Sep 2025 15:29:41 GMT

MEV Space brings together the sharpest minds in crypto to dissect the evolving MEV landscape and beyond. This is the 2nd part of the Data on Ethereum series.

In MEV Space #10, we asked: who owns Ethereum’s most valuable data?

We heard about:

Data asymmetries in private orderflow.

The interpretation layer is a scarce good.
Blind spots in real-time observability.
Protocol limits around censorship resistance & validator-builder balance.
And a shared concern: without better access, better modeling, and better accountability—we’re flying half-blind.

In this episode, we asked questions, including:

What are the hard-to-measure, high-impact data streams in your day-to-day work?
A story of when better data would have changed your call—investment thesis, governance vote, builder strategy.
How do metrics, dashboards, and labels become gatekeepers? Are we overfitting to what’s legible rather than what’s meaningful?
How do flawed data assumptions create real governance problems?
What role should researchers and analysts play in upstreaming better metrics into DAO and protocol governance?
What’s a widely used dashboard, metric, or “insight” you think is misleading—and what should we look at instead?
What norms or infrastructure do we need to establish to maintain data credibility and prevent manipulation?

You will hear insights from these experts:

Danning Sui — Research Director, Pantera Capital. Previously data at Flashbots/0x/ConsenSys.
Ludwig Thouvenin — Co-founder & CEO, Sorella Labs; building Ångstrom DEX.
Jake Koch-Gallup — Research Analyst, Messari (Protocol Research; author on recent Messari reports).
hildobby (Hildebert Moulié) — Head of Data Science, Dragonfly; longtime Dune “wizard.”
Benjamin Hunter — VP of Engineering, BTCS.

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Wonder if you have any misconceptions about MEV? Download our latest free e-book: MEV Myth Busters - From Microstructures to Macro Impacts.

Ethereum’s Past Mistakes, Present Blind Spots, and Future Frontiers on Data

EigenPhi — Tue, 09 Sep 2025 11:54:26 GMT

From gas markets to proposer behavior, from blob throughput to MEV flow—data has become the backbone of Ethereum’s evolution. But it wasn’t always this way. For years, we flew blind.

Entering the 2nd decade, our ability to measure and act on real-time data will define the protocol’s future.

This is part 1 of the MEV spaces discussing the importance of data in the development of Ethereum.

Meanwhile, set up your reminder for MEV Space #11 — Data, Drama & Decisions (Part II): Where Are We and What’s Next.

⏰ Date & Time: 11 AM EST, Sept 10

📍 Where: Twitter/X Space

In part 1, you will hear from:

Kofi (0xKofi, Senior Data Nerd, Base)
Thomas Thiery (soispoke, Researcher, Robust Incentive Group, Ethereum Foundation)
Sen Valitov (0x3face, Co-Founder, nuconstructxyz)
Irfan (i_shaix, Co-Founder, Interstate)
Co-host: Benjamin Hunter (philosowrapter, VP of Engineering, BTCS)

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Wonder if you have any misconceptions about MEV? Download our latest free e-book: MEV Myth Busters - From Microstructures to Macro Impacts.

Who Owns Ethereum’s Most Valuable Data? — Recap of MEV Space #10

EigenPhi — Fri, 05 Sep 2025 11:46:15 GMT

Ethereum turns ten 🎂, and with it, the debates over who owns the chain’s most valuable data are louder than ever.

In MEV Space #10 — “Data, Drama & Decisions”, we pressed on the questions that cut to Ethereum’s core:

❓ Agenda Questions

When you think about your own work, what kinds of Ethereum data are you most focused on day-to-day? How do you actually use that data?
Looking back, what did Ethereum misread in the past when making pivotal decisions with imperfect data—and how does that shape how we build infra and research today?
Which data streams are most critical for builders today—and where do blind spots still slow us down?
How do we actually measure decentralization and credible neutrality? Do current metrics give builders confidence?
Who really owns Ethereum’s most valuable data pipelines? How does control over these flows shape not just access, but the balance of power for builders, searchers, and researchers?
Which frontier apps will absolutely break without stronger data pipelines—and who’s solving it?

These panelists gave their insights.

Kofi (0xKofi, Senior Data Nerd, Base)
Thomas Thiery (soispoke, Researcher, Robust Incentive Group, Ethereum Foundation)
Sen Valitov (0x3face, Co-Founder, nuconstructxyz)
Irfan (i_shaix, Co-Founder, Interstate)
Co-host: Benjamin Hunter (philosowrapter, VP of Engineering, BTCS)

🔑 Key Takeaways

Data asymmetries in private orderflow concentrate leverage.
The scarce good is the interpretation layer—the ability to turn raw data into usable, curated insights.
We still have blind spots in real-time observability.
Protocol limits shape censorship resistance and validator–builder balance.
Shared concern: without better access, modeling, and accountability, we’re flying half-blind.

At root, it came down to two questions:

👉 Who has power?

👉 Who gets heard?

🎙️ How Speakers Answered

Kofi (Base)

Who has power: Those who can afford the compute and pipelines to transform raw Ethereum data into curated, low-latency interpreted datasets. Only a handful of providers have this ability today.

Who gets heard: The teams that produce—or can pay for—those insights. Their interpretations shape product decisions. Kofi warned of ecosystem risks if only a few can build/buy these insights, and called for democratizing access.

Thomas / soispoke.eth (Ethereum Foundation)

Who has power: Centralized block builders—and soon, centralized provers—hold immense leverage over inclusion and ordering. Thomas pointed to EIP-7805 (Fossil) as a way for validators to reassert inclusion rights.

Who gets heard: He argued more voices must “chime in” on upgrades and governance. Ethereum needs to widen who gets heard beyond builders, toward validators and community participants.

Sen (New Construct)

Who has power: Order-flow providers. Roughly 70% of MEV-relevant flow is private and highly centralized. Sen noted top players dominate, creating steep entry barriers.

Who gets heard: Those with access and BD leverage into private auctions. The “garage searcher” era is over—winners are those plugged into off-chain intent/RFQ venues and private pipes.

Irfan (Interstate)

Who has power: Centralized builders and parties with privileged private orderflow. Equal execution guarantees across searchers are “very hard” to enforce.

Who gets heard: At a minimum, validators should enforce baseline inclusion and censorship-resistance—for example through Fossil—so transactions “get a say” within N blocks, even if other fairness guarantees remain outside the protocol.

🌐 The Bigger Picture

Across the panel, the same tension emerged: data is power, and power determines whose voice shapes Ethereum’s future.

As private orderflow consolidates and builders gain leverage, the risk is clear: insight and influence concentrate in the hands of a few. The counterweight is equally clear: protocol-level guarantees, community-driven governance, and democratized access to Ethereum’s data interpretation layers.

The stakes are simple: if we want Ethereum’s next decade to be more decentralized than its last, we can’t let the most valuable data stay locked away.

Listen to the full recording here.

⏰ Stay tuned for MEV Space #11 — Data, Drama & Decisions (Part II): Where Are We and What’s Next.

⏰ Date & Time: 11 AM EST, Sept 3

📍 Where: Twitter/X Space

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Wonder if you have any misconceptions about MEV? Download our latest free e-book: MEV Myth Busters - From Microstructures to Macro Impacts.

Data, Drama & Decisions: Who Has Power & Who Gets Heard During the Past Ethereum Decade

EigenPhi — Wed, 27 Aug 2025 12:04:17 GMT

Ethereum turns ten 🎂—a decade of carrying billions in value, spawning entire industries, and sparking debates that will shape the internet’s future. While code debates grab headlines, it is the data debates that quietly steer Ethereum’s most crucial decisions. Who gets the vantage point? Why do real-time dashboards reach only a select few? And what happens when vital signals vanish without warning? These invisible struggles over observability could decide whether Ethereum learns from its past—or stumbles into gaps that threaten everything built atop it.

Join us for MEV Space #10 — “Data, Drama & Decisions” to step into Ethereum’s data battleground. We’ll revisit moments where decisions were made with too little data, spotlight today’s missing streams, and ask what it really means to measure decentralization and credible neutrality. We’ll probe who controls Ethereum’s most valuable data pipelines—and explore the frontier use cases that cannot survive without stronger observability. If you care about Ethereum’s next decade and know that data determines destiny, this Space is where you belong.

Joining us are voices who work with Ethereum data every single day:

Kofi (0xKofi × Base)
Thomas Thiery (soispoke × ethereum)
Sen Valitov (0x3face × nuconstructxyz)
Fan Zhang (0xFanZhang × Yale University)
Co-host: Benjamin Hunter (philosowrapter × BTCS)

⏰ Date & Time: 11 AM EST, Sept 3

📍 Where: Twitter/X Space

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Wonder if you have any misconceptions about MEV? Download our latest free e-book: MEV Myth Busters - From Microstructures to Macro Impacts.

Preconfirmations or Power Play? MEV Space #9’s Blunt Truths

EigenPhi — Fri, 15 Aug 2025 11:31:51 GMT

Murat Akdeniz (Primev) — “Enshrined PBS may simply rubber-stamp today’s power structure—high-performance relays will still run the show.”
Kubi Mensah (Gattaca) — “Enshrined PBS is complexity theatre—the real prize is delayed execution; let’s not mix priorities.”
Kevin Lepsoe (ETHGas) — “Cutting slot times just fuels a latency arms race—infra centralization and empty-slot risk could spike.”

These weren’t polite technical notes—they were shots fired at the assumptions shaping Ethereum’s next phase. MEV Space #9 wasn’t just about preconfirmations—it was about the political economy of Ethereum’s sequencing future.

Murat Akdeniz (Primev)

On Enshrined PBS: Warned that moving PBS into the protocol without structural changes risks simply legitimizing today’s dominant relays.
Centralization Concerns: Infra concentration would get locked in, making it harder for new entrants.
Preconf Incentives: Advocates market-driven auctions with anti-censorship penalties—rejecting bids should cost proposers.
Philosophy: MEV systems should expand the value pie, not just shuffle existing profits among insiders.

Amir Forouzani (Puffer Finance)

Slashing Philosophy: Harsh slashing burns value; instead, failed guarantees should compensate the users who paid for them.
Validator Safety: Protect smaller validators from outsized risks tied to preconf commitments.
User Value Return: If you break a promise, make the impacted party whole—not the void.

Kevin Lepsoe (ETHGas)

Against Slot-Time Cuts: Faster blocks can incentivize latency wars, leading to infra centralization and empty slots.
Blockspace Commerce: Sees sequencing rights as tradable—buy an entire block, sell slices, or resell unused portions.
Market-Led Approach: Let users decide preconf products, but guard against UX monopolies that could centralize demand.

Kubi Mensah (Gattaca / Titan Builder)

On PBS Enshrinement: Called it “complexity theatre” if it doesn’t address delayed execution, the real bottleneck.
Decentralized Sequencing: Supports permissionless block merging so losing builder transactions can be appended without breaking guarantees.
Builder Innovation: Highlighted Titan’s off-chain bundle inclusion and strategies to gain market share in a crowded builder field.
Execution First: Governance optics mean nothing if block execution can’t be timely and predictable.

Drew Van der Werff (Commit Boost)

Validator-Centric Design: Keep validators simple; let specialized actors manage preconfs.
MEV Mitigation: Constrain builders to prevent control and rent capture from concentrating.
Governance Advantage: Ethereum’s validator set, over a million strong, is better suited to set norms than a few large builders.

Shared Takeaways

PBS Enshrinement ≠ Instant Decentralization: Without tackling infra concentration, it risks entrenching current power.
Preconf Economics: Punish censorship and broken guarantees, but make sure value flows to those affected.
Speed vs. Resilience: Faster isn’t always better—latency wars can harm network health.
Execution Over Optics: The real prize is predictable, timely execution; everything else should serve that.

Closing Thought

MEV Space #9 made one thing clear: the fight over preconfirmations isn’t just technical—it’s about who holds power in Ethereum’s sequencing layer, and whether future changes will redistribute that power or lock it in.

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Wonder if you have any misconceptions about MEV? Download our latest free e-book: MEV Myth Busters - From Microstructures to Macro Impacts.

MEV Space #9: Rubber Stamps, Latency Arms Races, and the TEE Mirage

EigenPhi — Thu, 07 Aug 2025 11:38:22 GMT

Enshrined PBS may simply rubber-stamp today’s power structure—high-perf relays will still run the show. ——-Murat Akdeniz, Founder of Primev

Slashing shouldn’t burn to oblivion—redistribute penalties to users who bought the pre-conf guarantee. ——-Amir Forouzani, Contributor of Puffer.finance

Cutting slot times just fuels a latency arms race—infra centralization and empty-slot risk could spike. ——- Kevin Lepsoe, Founder of ETHGas

Enshrined PBS is complexity theatre—the real prize is delayed execution; let’s not mix priorities. ——-Kubi Mensah, Co-founder of Gattcha

TEEs are a poor-man’s cryptography; settle for them now and we’ll regret not pushing ZK harder. ——-Drew Van der Werff, Shepherd of Commit Boost

These are the hot takes from the guest speakers of the 9th MEV Space: Where Are We on Preconf, Rollups & Shared Sequencing?

Click the “Play” button to hear the full recording.

We discussed topics as:

Can preconfs deliver UX without trust?
Will based rollups align incentives across L1 and L2?
Does ePBS enable neutrality—or just shift capture?
Can shared sequencing coordinate without centralization?

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Wonder if you have any misconceptions about MEV? Download our latest free e-book: MEV Myth Busters - From Microstructures to Macro Impacts.

Encrypted Mempools and Ethereum’s Next Privacy Layer: Beyond the Myth of MEV Elimination

EigenPhi — Fri, 01 Aug 2025 12:03:40 GMT

During the 8th episode of MEV Space, our speakers explored how encrypted mempool solutions like Shutter Network don't aim to eliminate all MEV (a common misconception), but rather focus on preventing front-running and providing crucial real-time censorship resistance. The discussion covers technical implementation challenges, the synergy with other Ethereum upgrades like Fossil and EPBS, and concrete roadmap milestones, including out-of-protocol implementations and EIP 7793 for eventual L1 integration.

Here are the top highlights from the speakers.

Luis Bezzenberger (Product Manager, Brainbot / Shutter Network)

Threshold Encryption for Real-Time Censorship Resistance
Luis emphasized that Shutter Network uses threshold encryption to enable unstoppable decryption, making it ideal for encrypted mempools that defend against front-running and short-term censorship—especially valuable in high-speed DeFi and L2 environments.
Debunks Misconceptions About MEV Elimination
He clarified that encrypted mempools are often wrongly criticized for failing to eliminate all MEV. In reality, they are designed to prevent front-running, not back-running, and don’t claim to be a silver bullet for all MEV issues.
Concrete Milestones: POC and Integration with MEV-Commit
Luis outlined two concrete milestones:
- A proof-of-concept with Primev’s MEV-Commit, using Shutter as a sequencer to build encrypted transaction flows.
- A long-term goal of integrating encrypted mempools with Fossil and EPBS to solve censorship resistance and “free option” issues in block production.

Marc Harvey-Hill (Ethereum Core Team, Nethermind)

EIP 7793 for Stronger Guarantees
Marc introduced EIP 7793, which ensures that proposers cannot reorder transactions, eliminating the risk of front-running even when decrypted—surpassing current models that only slash misbehavior.
Short-Term Privacy, Not Full Confidentiality
He clarified that encrypted mempools offer short-term privacy, useful for front-running protection and censorship resistance—but do not provide long-term data privacy, contrary to common belief.
Decentralization via Multiple Threshold Sets
He addressed centralization concerns by suggesting multiple encrypted mempools with distinct threshold sets. Users can choose their preferred trust models, maintaining system-level decentralization without requiring full protocol enshrinement.

Benjamin Hunter (Co-host, VP Engineering at BTCS)

Advocates for “Good Enough” Solutions
Ben highlighted Ethereum’s tendency to demand perfection for protocol features like encrypted mempools, while accepting suboptimal solutions like out-of-protocol PBS relays. He argued for a faster, iterative approach to adoption.
Raises Cost and Incentive Questions
He pressed the speakers on who pays for encrypted mempools, and how validators and builders could be economically incentivized. This prompted Luis and Marc to explain fee structures, tips, and validator rewards.
Pushes for Global Censorship Resistance
Ben emphasized that Ethereum must not act like “the United States of Ethereum.” He advocated for globally inclusive censorship resistance to ensure institutional and geopolitical neutrality in transaction processing.

Listen to the full podcast 👇

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Wonder if you have any misconceptions about MEV? Download our latest free e-book: MEV Myth Busters - From Microstructures to Macro Impacts.

10 Years of Ethereum. What’s Next for Preconf, Rollups & Shared Sequencing?

EigenPhi — Wed, 30 Jul 2025 11:22:07 GMT

From a whitepaper to a world computer, Ethereum has evolved into the world’s most versatile, decentralized finance and computation platform. Today, it powers the largest DeFi and rollup ecosystem in the blockchain space, serving as the trust foundation for billions in economic activity.

But as Ethereum enters its second decade, the core challenge of scalability remains—only now, it’s no longer just about throughput or latency. It’s about maintaining credible neutrality, user experience, and decentralized coordination as we scale.

And that brings us to one of the defining questions of this moment:

Can we preconfirm fast, scale through rollups, and still coordinate without centralization or censorship?

This isn’t theoretical anymore. It’s architectural. We’re watching it unfold across Ethereum Layer 2s, emerging sequencing layers, and protocol R&D.

Why This Matters Now

In 2024 and 2025, Ethereum has taken major steps forward:

Proto-danksharding (EIP‑4844) drastically reduced data costs for rollups.
ePBS (EIP-7732) is scheduled in Glamsterdam to enshrine proposer-builder separation, decentralizing MEV and block construction.
And upgrades like Fusaka and Pectra are laying the groundwork for even more scalable, secure, and modular infrastructure.

Yet many of Ethereum’s biggest rollups still rely on centralized sequencers.

And while mechanisms like preconfirmations and based rollups promise faster UX and trust-minimized coordination, their integration with Ethereum’s MEV supply chain—searchers, builders, proposers—is still an open field of innovation and debate.

That’s Why We’re Hosting:

🎙️ EigenPhi MEV Space #9

🗓️ Aug 5 • 11 AM EST

📍 Twitter/X Live

“Where Are We on Preconf, Rollups & Shared Sequencing?”

We’re bringing together some of the sharpest minds building the future of sequencing and execution:

🎤 Speakers

Murat Akdeniz MuratLite — Founder, Primev
Amir Forouzani AmirOnchain — Contributor, Puffer.finance
Kevin Lepsoe lepsoe — Founder, ETHGAS
Kubi Mensah kubimensah — Co-Founder, Gattaca
Drew Van der Werff DrewVdW — Shepherd, Commit_Boost
Benjamin Hunter philosowrapter — Co-host, VP Engineering, BTCS

🧠 What We’ll Explore

Preconfirmations: Can they deliver the sub-second UX users expect—without trusted third parties?
Based rollups: Are they the answer to neutral, shared sequencing? Or just one more model in an already crowded field?
Shared sequencing layers: How do we coordinate multiple rollups without creating new points of centralization?
MEV implications: Who earns? Who builds? And how do incentives shift as sequencing is re-architected?

📣 Why You Should Tune In

If you’re building, researching, or just curious about how Ethereum will scale without compromising on its core values—this Space is for you.

We won’t just debate mechanisms—we’ll dig into the real tradeoffs, timelines, and coordination challenges facing the Ethereum ecosystem today.

⏰ Set your reminder, bring your toughest questions, and join the discussion:

👉 Twitter Space Link – Aug 5, 11AM EST

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Wonder if you have any misconceptions about MEV? Download our latest free e-book: MEV Myth Busters - From Microstructures to Macro Impacts.

MEV Space #8: Censorship Resistance, MEV Mitigation, and Implementation Timeline On Encrypted Mempools

EigenPhi — Tue, 29 Jul 2025 11:32:15 GMT

Is a “private relay” really the same as a fully encrypted mempool?
Could sealing the mempool raise validator APR while erasing sandwiches?
Who eats the latency bill—and who pockets the upside?
Which milestones can land encryption on mainnet within 12 months? Or is it even possible?

During MEV Space 8 — Merits, Myths & Milestones of Encrypted Mempools, we have speakers:

Luis Bezzenberger — Head of Product, ShutterNetwork
Marc Harvey-Hill — Ethereum Core Developer, NethermindEth
Co-host: Benjamin Hunter — VP of Engineering, NasdaqBTCS

This MEV Space episode explores how encrypted mempool solutions like Shutter Network don't aim to eliminate all MEV (a common misconception), but rather focus on preventing front-running and providing crucial real-time censorship resistance. The discussion covers technical implementation challenges, the synergy with other Ethereum upgrades like Fossil and EPBS, and concrete roadmap milestones including out-of-protocol implementations and EIP 7793 for eventual L1 integration.

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Wonder if you have any misconceptions about MEV? Download our latest free e-book: MEV Myth Busters - From Microstructures to Macro Impacts.

Is Encryped Mempool the Next Big Thing?

EigenPhi — Tue, 22 Jul 2025 15:40:32 GMT

What if every pending Ethereum transaction were sealed in a cryptographic envelope—unreadable to frontrunners, unshakable by bribes, yet still delivered in milliseconds? That’s the promise (and controversy) of an encrypted mempool, the next battleground in the MEV wars.

On July 23 @ 10:30 AM EST, during our MEV Space 8 — Encrypted Mempool: Merits, Myths & Milestones, we will:

Bust the #1 myth that keeps EF on the fence
See how encryption adds revenue while nuking sandwiches
Latency, cost, complexity—who pays & why it’s worth it
12-month roadmap: testnet → EIP → cross-client standard

Join leading builders below:

🎙️ Luis Bezzenberger — Head of Product, ShutterNetwork
🎙️ AJ Park — Co-Founder & CEO, radius_xyz
🎙️ Marc Harvey-Hill — Ethereum Core Developer, NethermindEth
🔍 Cross-examiner Benjamin Hunter — VP of Engineering, NasdaqBTCS

🗓️ Jul 23 • 10:30 AM EST

Host: @EigenPhi — set your reminder & join the debate 👇

https://x.com/i/spaces/1DXxyqvzXYNxM/

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Read all MEV Myth Buster series here:

MEV Space #7: Partial Block Building POV From Builders & Validators

EigenPhi — Mon, 16 Jun 2025 15:20:03 GMT

MEV Space brings together the sharpest minds in crypto to dissect the evolving MEV landscape.

Today, we're diving deep into one of the most critical questions shaping the future of Ethereum and MEV: How does Partial Block Building reshape stakeholder dynamics across the entire MEV supply chain, and what does this mean for the economic evolution toward REV?

From validators optimizing their APR to builders managing inclusion risks, from searchers adapting their strategies to protocols balancing competing interests—PBB is shifting power dynamics in ways we're only beginning to understand.

We've got an incredible lineup of experts representing each layer of this ecosystem, and they'll be challenged by some tough questions. Let's unpack how this technology is redistributing value and influence across the chain.

Danny Gattas — Protocol Lead, Figment
Kubi Mensah — Co-Founder, Gattaca
Irfan Shaik — Founder, Interstate
Jesse Tasman — Sr. Technical Product Manager, bloXroute
Co-Host: Benjamin Hunter — VP of Engineering, BTCS

Expect sharp takes on:

PBB mechanics: inclusion vs. execution auctions
REV economics: who gains, who pays
Pre-conf guardrails: stopping dark-forest 2.0
Metrics that matter: latency-adjusted APR, builder HHI, bid variance.

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Check out our last MEV Myth Buster series.

Click this link or open https://bit.ly/hfdefi to download the free ebook Head First DeFi, Decoding the DNA of Crypto Transactions & Strategies.

MEV Space #6: Profit or Promise - MEV Collection vs. Preconf Guarantees

EigenPhi — Wed, 11 Jun 2025 15:56:20 GMT

As Ethereum evolves, preconfirmation protocols are fundamentally reshaping how transactions flow through the network. But this evolution brings critical questions that the community must address head-on.

The Central Challenge

How do we balance MEV extraction with reliable execution guarantees as preconfirmation protocols transform Ethereum's infrastructure?

Key Questions on the Table

• Where do risks like centralization, censorship, and incentive misalignment emerge in this new landscape?

• What trade-offs are we making between efficiency and decentralization?

• How can we preserve Ethereum's core values while embracing these protocol improvements?

Expert Panel

Top minds collide to tackle these complex issues:

Speakers

• Murat Akdeniz (@MuratLite, @primev_xyz)

• Kevin Lepsoe (@lepsoe, @ETHGASofficial)

• Drew Van der Werff (@DrewVdW, @fabric_ethereum)

Hosts

Co-hosted by:

• Benjamin Hunter (@philosowrapter, @NasdaqBTCS)

• Bryan Zheng (@bryanzketh, )

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Check out our last MEV Myth Buster series.

Click this link or open https://bit.ly/hfdefi to download the free ebook Head First DeFi, Decoding the DNA of Crypto Transactions & Strategies.

MEV Space #5: Sandwiched In Time - Tracing MEV on EVM Chains

EigenPhi — Fri, 06 Jun 2025 11:38:10 GMT

How have sandwich attacks evolved over time?
Which blockchain upgrades have successfully reduced sandwich attacks?
Can block builders ever successfully filter out harmful MEV?
How do researchers identify sandwich attacks in blockchain data?
Could encrypted mempools be the solution to front-running?
When should blockchain data be transparent vs. private?
Think your slippage protection keeps you safe from sandwich attacks? Advanced bots like Jared are now using other users' transactions to exploit you in ways you never imagined.

During the 5th MEV Space on April 16th, these big brains shared their answers to the question above.

Luis Bezzenberger, Founder of ShutterNetwork
Yixin Cao, Chief Data Scientist of EigenPhi.
Hildobby, Data Lead of DragonFly

We also have Benjamin Hunter, VP of Engineering at BTCS, as the co-host.

You can subscribe to MEV Spaces via Spotify, Apple Podcasts, and Pocket Casts.

Check out our last MEV Myth Buster series.

Click this link or open https://bit.ly/hfdefi to download the free ebook Head First DeFi, Decoding the DNA of Crypto Transactions & Strategies.

Annoucing MEV Space #7: Who really controls the next Ethereum block?

EigenPhi — Mon, 02 Jun 2025 16:46:08 GMT

For years, Proposer/Builder Separation (PBS) and MEV-Boost defined the frontier: builders fought millisecond wars for full-block rights, validators raked in the bids, and searchers squeezed alpha from every gas unit. But a new fault line has opened—Partial Block Building (PBB). Instead of selling the whole block to the highest bidder, proposers can auction slices of it, delegate only the execution layer, or pre-confirm specific bundles while the rest of the block stays fluid.

That granular shift is more than a technical tweak; it’s a supply-chain power play. By decoupling inclusion from execution, PBB rewires who captures the spread between Maximal Extractable Value (MEV) and the cash that actually settles—Realized Extractable Value (REV). Validators see new revenue paths, builders face thinner (or fatter) margins, and searchers must rethink how they bid, hedge, and hide. The ripple effects touch everything from latency-arbitrage contracts to wallet-level intents.

On June 5 at 10 AM EST, we’re bringing the principals to a live Twitter Space to map this territory:

Danny Gattas — Protocol Lead, Figment
Kubi Mensah — Co-Founder, Gattaca
Irfan Shaik — Founder, Interstate
Jesse Tasman — Sr. Technical Product Manager, bloXroute
Co-Host: Benjamin Hunter — VP of Engineering, BTCS

Expect sharp takes on:

PBB mechanics: inclusion vs. execution auctions
REV economics: who gains, who pays
Pre-conf guardrails: stopping dark-forest 2.0
Metrics that matter: latency-adjusted APR, builder HHI, bid variance\

Set your reminder here, bring your toughest questions, and watch the trading supply chain tilt in real time.

Click here to listen to our previous MEV Space podcasts via Spotify, Apple Podcasts and Pocket Casts.

And don’t miss our MEV Myth Buster Series:

MEV Space #4: 1 Builder, 1 Searcher, 1 Victim, & $714K Losses

EigenPhi — Mon, 02 Jun 2025 11:40:27 GMT

Dive into the epic 6-sandwich-in-5-minutes saga, a wild ride through the realms of PBS, MEV Boost, and the searcher-builder alliance. Let @philosowrapter, Engineering VP of BTCS guide you through the beast's lair.

You can also read this post for more details.

Check out our last MEV Myth Buster series.

Click this link or open https://bit.ly/hfdefi to download the free ebook Head First DeFi, Decoding the DNA of Crypto Transactions & Strategies.

MEV Space #3: TEEs in Blockchains - Trust, Decentralization & Market Design

EigenPhi — Wed, 28 May 2025 11:14:20 GMT

Are TEEs the secret weapon for squashing MEV chaos and building truly decentralized blockchains? Or are we just swapping one central point of failure for another by trusting hardware giants like Intel?

During this talk, we have these thought leaders:

Shea Ketsdever, Product Lead at Flashbots.
Chua Zheng Leong, Co-Founder at Automata Network

Blair Marshall, MEV Solution Architect of Fastlane, will be our co-host again.

Here are the topics we will discuss.

Given the inherent trust in hardware manufacturers when using TEEs, can we truly consider MEV auctions run within TEEs to be "trustless" and sufficiently decentralized?
What security considerations and safeguards can enhance TEE-based MEV auction implementations?
Considering the argument that TEEs are a good short-term solution for achieving both performance and decentralization in areas like MEV auctions and block building, how long will this "short term" last, and how might TEE technology evolve alongside competing solutions like MPC or FHE in MEV auction design?

How can TEE-based partial block building complement other approaches like deterministic algorithms and advanced cryptography?
What design principles can optimize TEE integration in partial block building for security and decentralization?

Suppose TEE technology becomes dominant among validators and block builders, exceeding 51% adoption, and regulators respond with compliance requirements demanding greater data transparency. How can we reconcile the inherent privacy features of TEEs with the need for regulatory oversight?

We examine the role of TEEs in revolutionizing MEV auctions and enabling decentralized block building while exploring potential vulnerabilities and long-term viability. Get ready for a thought-provoking discussion on the future of blockchain technology and the delicate balance between trust, decentralization, and regulation.

Check out our last MEV Myth Buster series.

Click this link or open https://bit.ly/hfdefi to download the free ebook Head First DeFi, Decoding the DNA of Crypto Transactions & Strategies.