Flashbots is a research and development organization formed to mitigate the negative externalities posed by Maximal Extractable Value (MEV) to stateful blockchains. Our primary focus is to enable a permissionless, transparent, and sustainable ecosystem for MEV, via a three-pronged approach:
We have brought transparency through open MEV activity analytics and dashboard and public and open research, with the community, for the ecosystem. We have democratized access to MEV revenue with MEV-Boost that gives all validators access to MEV revenue on equal footing, with the support of a vibrant ecosystem of builders and searchers.
We have started distributing MEV revenue using the MEV-share protocol. This protocol returns 90% of captured MEV to users, wallets, and dapps, who can enjoy its benefits simply by sending transactions with programmable privacy to Flashbots Protect. MEV-share also poses a new challenge for searchers, as they must now learn how to compete for and execute against users' private transactions.
To seize this prize, construct a project that showcases SUAVE, MEV, or programmable privacy concepts, including but not limited to DeFi, Gaming, or any auction market in real life use cases.
Develop a game which leaks MEV that searchers can compete on to stress test order flow solutions like mev-share or new chains testing their MEV-proofness (see Base leaky mempool). Ideal projects might feature a weakly random encrypted password that challenges searchers to brute force for MEV rewards. Ideally this could easily be deployed on any chain.
Produce an MEV-aware Uniswap frontend fork, informing users about potential MEV from their trade and directing them towards MEV-share and showing an estimated refund amount.
Craft a system where oracle updates can be auctioned via MEV-share or similar services, promoting transparency and dynamic updates.
All projects in the Ecosystem Track should integrate core MEV principles and tools.
Construct a info site, with lookup function for anyone to query their past Uniswap DEX Trades' MEV related metrics, e.g.:
Design a simulation bot, to query across major DEX/DEX-aggregators' execution quality based on same trade request, so to help the community understand if really:
and/or, combine with empirical analysis on historical data:
Is the public mempool really drying up, with orderflow moving to private mempool (i.e. each builder's)? With the copy of public mempool dataset, build a website to showcase how the private orderflow landscape look like: by checking the onchain transactions included in each builder's block, and cross checking the public mempool history, we shall be able to identify how much of the flow are public vs private, per each builder. How did that evolve over time? How MEV valuable are they? Add metrics and visualizations to inform the mempool evolution after the adoption of MEV-boost, order flow auctions.
Projects in the Data Analysis Track should focus on illuminating the dark corners of the MEV supply chain. Additionally there are already tools which attempt to do some of these so a compelling project will do something that hasn't been done yet.
For Ecosystem Track: Coming soon!
For Data Track:
Feel free to reach out to dmarz#8851, sui414 or taarushv in the #hackathon channel in our Discord if you have any questions regarding our challenges!