MEV is Fundamental to Permissionless Systems
summary
Claims that MEV is unavoidable in permissionless systems because transcriptability, interoperability and diverse trust models create persistent arbitrage and bribery vectors; cites Flashbots as an engineering response that democratizes extraction but raises centralization risk via block-proposer whitelisting. Points to EIP-1559 and off‑chain priority gas auctions as partial mitigations (off‑chain PGA gas savings <1% per public MEV Explorer; a cited 5.2% miner revenue uplift for MEV realization). Argues solutions reduce but cannot eliminate MEV.
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chapters (5)
- 0:00Introduction and questions
- 4:44MEV economic perspective
- 10:23Why MEV is fundamental
- 18:40Mitigations and outlook
- 20:46Panel discussion on MEV
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