MEVeconomics in L2 - A Closer Look at the Sequencer's Role and MEV
summary
Describes sequencer ordering as three concrete policies — MEV-extract-first (sequencer holds transactions, possible 24 hours delay on some rollups), fee-first/PBS (open market where searchers pay sequencer), and first-come-first-serve — and gives real problems and mitigations: priority gas auctions, ~100k–150k connections from searcher bots, and the 50 dedicated-connection hack. Proposes a hybrid: FCFS with short rapid auctions (milliseconds–seconds) where searchers bid on tiny bundles to give fast confirmations while keeping an open market and configurable MEV constraints.
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chapters (4)
- 0:00Start
- 6:29Sequencer's Ordering Policy
- 9:20Highest Fee First - Payment for Order Flow
- 10:27First Come First Serve (FCFS)
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