The limits of AMM Privacy and MEV - Tarun Chitra (Gauntlet) скачать в хорошем качестве

The limits of AMM Privacy and MEV - Tarun Chitra (Gauntlet)

https://mev.day As you can see on Flashbots’ MEV Explore, the most common type of extractable value involves value extracted from constant function market makers (CFMMs). This value, most often in the form of a sandwich attack, is generally extracted because users are not strategically choosing parameters (such as slippage limits) as a best response to other participants. In this talk, we’ll talk through the results of our recent paper, which demonstrate a mechanism where users can provably mitigate the likelihood of being sandwiched by trading-off price execution quality. This result suggests that MEV, at least for CFMMs, corresponds to a privacy-utility trade-off. We end with thoughts on what searcher-user-miner equilibria look when all participants are strategically choosing best responses and argue for the existence of a coarse correlated equilibrium.