MEV Protocol
@mevdotio
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Maximal Extractable Validator (MEV) Protocol is a system of products built to maximize value creation across the validator supply chain.
Joined August 2023
The revolution has started. MEV Protocol is now live ๐ฅ This ushers in a new ETH Liquid Staking Token containing mechanics previously unexplored by others. Dive into the blog post or continue on with this thread ๐งต:.
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Today, weโre introducing mevAuction, a new system to auction blockspace that allows, for the first time, multiple-winners in the same block. This means proposers can continue to enjoy benefits of mev-boost while earning additional rewards with mevAuction. A thread: ๐งต
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Oppenheimer split the atom. We split the block. @machibigbrother helping @notthreadguy, @farokh, and others understand the mission MEV Protocol is on. #SplitTheBlock
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Withdraw queue tickets 1 through 93 have been successfully processed and are now claimable at ๐ค. mevETH pools on @Balancer & @AuraFinance are currently ~25% vAPR, @curvefi & @convexfinance ~15% vAPR, with further incentive boosts in the works ๐.
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With the launch of MEV Protocol and mevETH, @CreamdotFinance crETH2 holders can now migrate to mevETH!. Over 11,000 crETH2 have already migrated!. If you havenโt yet, read on for the why and how:
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Today, skimming rewards, withdraws, and exiting for mevETH have been enabled. Pending rewards have also been distributed. Want to keep growing your ETH in mevETH? No action is required, as mevETH is an ERC-4626 vault, where rewards compound automatically. A quick thread: ๐งต
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Did you know that mevETH is an ERC-4626 Vault Token? ๐ค.What is a 4626 Vault, and how does it work? Letโs take a look, and why itโs useful ๐
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For those of you curious about the current annual mevETH rewards, ponder no more. Join the revolution.
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Happy Dencun! Our validator sets are running strong after the upgrade thanks to @foldfinance's solid infrastructure ๐ช. Worth noting, we proposed in the 1'st epoch Dencun was activated ๐. Through all this weโve had 0 downtime, no issues observed & continue to monitor closely ๐ซก
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MEV Protocol Update - Nov 30, 2023. Lots of updates to dive into! . Migration, Exiting, Redemptions, Liquidity, MEV Futures Slot Auction, Front-End Upgrades, Utility Token, and more!. Letโs go: ๐งต๐
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We're pleased to announce that $mevETH is now listed on @StakingRewards! . Find MEV Protocol in the Ethereum 2.0 section, calculate your rewards, and start staking with us today to get some of the highest rewards available!.
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In a few days from now, the next epoch of yETH will be decided. $mevETH is joining the party. What is $yETH you say? .Here we go ๐๐งต:
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Are you at #ETHDenver2024? . Come find @0xTangle or @lumbergdoteth for some MEV Protocol swag! Stickers, T's, and some chap stick to solve your dry lip crisis ๐. Be sure to ask us about MEV Mana. ๐ .$mevETH
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Have you migrated to mevETH yet? . Check out the latest update on migration stats and timelines, mevETH performance, plus the latest plans around liquidity:.
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Check out where $mevETH is on the @vaultsfyi list ๐.
How's yETH doing? Here's where we're at. yETH is:.sfrxETH.mevETH.swETH.wstETH.ETHx.cbETH.rETH.apxETH. ss from @vaultsfyi
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Did someone say Restaking?. ๐ซฐSnapshot: Oct 20th .๐ Submissions by LSTs: Oct 20th-25th.๐ณ๏ธ Voting by LST holders: Oct 25th - Nov 1. $mevETH is in the arena.
LSTs with over 15k ETH backing include:. - wBETH @binance.- sfrxETH @fraxfinance.- SETH2 @stakewise_io (osETH wen v3).- swETH @swellnetworkio.- AnkrETH @ankr.- LsETH @alluvialfinance.- mevETH @mevdotio.- EthX @staderlabs.- vETH @Bifrost.- oETH @OriginProtocol.
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Attention all remaining crETH2 hodlers! The Nov. 3 23:59:59 deadline is approaching quickly. PSA to migrate crETH2 before then to get your additional pro-rata portion of ~135 mevETH at:
If you migrate your crETH2 to mevETH before November 3, 23:59:59 UTC, you'll get 1.13 mevETH for each crETH2 and your pro-rata share of ~135 ETH in rewards as mevETH.
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Imagine when he learns about blockspace futures ๐. #mevAuction $mevETH.
โETFs are step one in the technological revolution in the financial markets. Step two is going to be the tokenization of every financial assetโโLarry Fink, CEO of @BlackRock on @CNBC.
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MEV Protocol is pleased to be a sponsor of the @ScrapingBits podcast from @DeGatchi. He's been doing impressive podcasts around #MEV & other #ETH research ๐จโ๐ผ. Check out this talk with @libevm around his #MEV journey. Note the shout out to @blockrotator at the 29min mark ๐.
On @ScrapingBits, I spoke w/ @libevm about:. ๐ค War stories from his MEV searching days.๐ All about MEV Data w/ libmev.๐ง The transition into building blocks w/ PenguinBuilder.โ๏ธ And so much more. Out now!.
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As per the Nov. 3 deadline, all pro-rata portions have been distributed for crETH2 migrators to mevETH. Transaction details below:.
Attention all remaining crETH2 hodlers! The Nov. 3 23:59:59 deadline is approaching quickly. PSA to migrate crETH2 before then to get your additional pro-rata portion of ~135 mevETH at:
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"We believe the next step going forward will be the tokenization of financial assets". It really is just a matter of time before the world wakes up to blockspace futures. #mevAuction $mevETH
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Get ready for the @EigenLayer inclusion vote that will be going live Nov. 2nd! . mevETH is committed to maximizing value, and restaking is one of the newest opportunities in earning additional validator rewards. This vote would enable mevETH to be restaked through EigenLayer.
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MEV Protocol partnered with the based crypto research group 20 [ ]โs @fabgenovese @dpl0a @philipp_m_zahn in modeling & development of mevAuction. They released a new blog post on it. This is how weโve collectively turned cutting edge theory into practice.
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The Ethereum landscape is far from neutral. These "threats" from MEV are not the existential risks that many portray them to be, but rather subtle tactics in an ongoing battle for supremacy. The age of dรฉtente is over.
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mevRouter is the latest addition to MEV Protocol. Itโs designed to help users go in and out of $mevETH with the most efficiency. Hereโs how it works: ๐งต
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.@EigenLayer and MEV Protocol share similar values, with goals to make things as simple as possible for users, offer best-in-class solutions, all while gaining exposure to additional rewards.
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This new Auction System will provide the foundation needed to support applications such as a Forward Market for priority-sensitive transactions, multi-slot bidding for block builders, restaking support for ERC-20 tokens, and various DeFi integrations.
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MEV Protocol is the result of @CreamdotFinance with the first-ever ETH staking service & @foldfinance a leading figure in Ethereum infrastructure. This collab enhances network security, promotes validator and LST diversity, promotes network decentralization, and maximizes value.
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Epoch 3 for $yETH has concluded, and $mevETH garnished a ton of support! Thank you everyone who voted in favour! . mevETH now has a larger percentage of yETHโs composition ๐ค Updates on yETH website should update shortly.
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Set your reminders folks!.@blockrotator will be on sharing the latest from mevETH, and why it's a great fit for yETH ๐.
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Friendly reminder that the @eigenlayer contest is now live on @jokerace_xyz! . Vote for mevETH on Ethereum, Mantle, or both! Just over 6 days remaining to vote. Any LST that receives more than 15,000 votes will be whitelisted for restaking with EigenLayer.
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More voting? Another one live on @ConvexFinance Snapshot, for the frxETH-mevETH gauge on @CurveFinance. Quorum exceeded, and looking good ๐
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A new MEV Auction system that has been under development which supports multiple winners per slot, as opposed to the current paradigm of one slot, one winner in the Flashbots MEV Boost system.
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mevETH has over 28,000 ETH staked in it, and has been receiving rewards since mid August. Depositing ETH and minting mevETH, along with migrating CRETH2 to mevETH is available directly on the website.
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Still wondering how to vote for the next LST in yETH?. Perhaps some incentives will help your decision.
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Claims for exits and withdraws for the first batch of $mevETH redemptions will be ready towards the EOD of December 23rd. Check out the thread below for further details:.
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Accrued rewards will be available in ETH shortly after protocol deployment, and exiting mevETH for ETH will be enabled after protocol stabilization as early as next month.
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Just over 24hrs left! โ๏ธ. Help ensure mevETH's place in @eigenlayer with your vote! ๐ณ๏ธ . Any LST with over 15,000 votes will get included! ๐ฆพ . Contest Links: . Mainnet: Mantle: . Let's go! ๐ฅ.
Friendly reminder that the @eigenlayer contest is now live on @jokerace_xyz! . Vote for mevETH on Ethereum, Mantle, or both! Just over 6 days remaining to vote. Any LST that receives more than 15,000 votes will be whitelisted for restaking with EigenLayer.
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Transparency and fairness in block validation is offered by a variety of options for validators to decide who receives the rights to their blocks. It recognizes that such crucial decisions cannot be monopolized by a single organization in private.
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Prevailing perspective: โThe threat of and opportunity for significant manipulation in the Ethereum network is rising.โ These "threats" due to the competition for MEV may not be as much existential risk, but rather subtle tactics in an ongoing battle for network supremacy.
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Imagine a blockchain like a train made of many cars that only allows a single class of passengers, where the highest single bidding group of passengers will gain access to the train. This new design enables a multiple class system, providing the inclusion of multiple winners.
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MEV Protocolโs approach harnesses relayers, block proposers and block builders to enhance the MEV supply chain. Reward avenues encompass validator base fee, LP incentives, and the multi auction winners discussed previously. Additional reward developments are on the horizonโฆ.
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Read this and previous posts on our blog at Learn more about MEV Protocol, and start staking your ETH today at
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Splitting the block is not a new concept. Vitalik first suggested splitting the block in this post The Alpha part basically stays the same as it is currently handled under PBS in Ethereum, and remains compatible with mev-boost. So what is new?.
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The current blockspace auction standard is mev-boost, where only one winner is selected per block. mevAuction enables a multiple class system, providing inclusion of multiple winning groups by dividing each block into two sections while maintaining compatibility with mev-boost.
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The 80/20 mevETH/FOLD gauge just got enabled on @AuraFinance. Rewards can now be directed to this pool in upcoming voting rounds. Additionally, the mevETH/WETH Gyro pool on @Balancer is receiving rewards, with the current vAPR set to increase this round.
The @Balancer gauge for @mevdotio's 80mevETH/20FOLD pool is now live and eligible for BAL distributions.
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Beta (ฮฒ) Section Sales: You can book your transaction's spot in this section in advance, almost like buying a train ticket for a future journey. This booking is done through a newly developed Layer 2 chain.
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Bottom Section (Beta, ฮฒ): This is more like the economy class. Here, transactions can book their spot in advance, ensuring they get in the block without competing for the VIP section.
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By splitting the block into two parts, it now creates innovation in making blockspace more accessible than before. This gives more parties with different needs, the ability to pay to access something they couldnโt before the inception of mevAuction.
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There are three reasons why this construction can be useful:. Efficiency: Just like a train with different classes, this method uses blockspace more efficiently.
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Top Section (Alpha, ฮฑ): This is like the VIP section of the block. It's reserved for special transactions that pay more to be there. It's like getting a first-class ticket on a train.
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Combining Alpha (ฮฑ) and Beta (ฮฒ): Once the top section is filled with VIP transactions, it's combined with the pre-booked transactions from the bottom section to form a complete block.
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Several technical steps are needed to make this work, involving special a dedicated set of validators, a new Layer 2, and an adapted relay. Think of it like setting up a new, more efficient train system with advanced booking and reservation capabilities.
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Fairness: It creates different 'marketplaces' for different needs, making the whole process smoother and more predictable. Flexibility: This approach can adapt to different needs and could lead to more innovative ways of using blockspace.
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The first version of the system is live on Holesky testnet. Learn more about mevAuction and how to participate in our docs:
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Would you be interested in attending an off-site lunch event to learn about the mevAuction blockspace market system while at @EthereumDenver?. #MEV #Ethereum.
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The utility for mevETH is just getting rolling! Mint fresh new mevETH, or migrate your crETH2:
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Held crETH2 at the time of snapshot? . Go and claim! ๐.
Claim page is now live for crETH2 holders at block number 18278200. Go to to claim your ETH from the STRK airdrop.
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Additionally, mevRouter will also help prevent getting sandwiched to ensure you the best rate when swapping mevETH. Try it out at:
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Follow, listen, and subscribe to @ScrapingBits. Stay tuned for upcoming podcasts, as there will be some from the MEV Protocol side ๐.
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mevRouter is designed to consider minting price vs. swap price from available LP pools. If itโs more efficient to swap ETH to mevETH, it will utilize the LP pools. If not, it will directly mint mevETH. It may also fulfill orders through both swapping and minting combined.
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Due to liquidity imbalances on liquidity pools, exiting and rewards distribution along with equilibrium arbitrage, will all be built into a single block and execute at the same time. The arbitrage profits will be used to provide protocol owned liquidity for mevETH pairs.
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mevRouter is hosted on When users are moving from ETH to mevETH, mevRouter will find the most optimal way to acquire mevETH depending on size and available liquidity.
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Epoch 3 of yETH recently concluded, where 10% of the weight is redistributed among the LSTโs in yETH. 61.51% was in support of mevETH, which increases its weight distribution in the basket.
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This brings further utility to mevETH, and pairs nicely with another LST from @fraxfinance ๐.
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95% of crETH has been migrated to mevETH. At this stage, exiting and redemptions, along with rewards distribution, will take place on or before Dec. 6, 2023.
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ERC-4626 is a tokenized vault standard, which makes it easy to integrate into dApps, plugins, and tools โ
This allows it to be used easily with DeFi protocols, and not have to worry about the accruing rewards like rebasing tokens.
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LP Pools are on Curve and Balancer, with reward gauges enabled. Staking through Convex, Yearn, and Aura are also available. Incentives are currently being directed into the mevETH gauges, providing additional rewards. See the full blog post containing all the pools available.
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This simplifies things when used in a LP position, as there is no need to worry about where the rewards are accruing. When you remove liquidity, mevETH shares will contain any accrued rewards ๐ย and will not be accrued to the LP pool.
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It also works in reverse when going back to ETH. It may route all or part through the LP Pools, or initiate through the withdraw function.
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This way, you donโt need to claim any rewards, saving you gas costs from transactions. It can be easily used in DeFi protocols, as there is no need for mevETH to be wrapped like other LSTโs ๐
โโ๏ธ.
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yETH is a basket of LSTโs, containing the likes of staked ETH from Frax, Swell, Lido, Stader, and Coinbase. It also acts as an AMM between the LSTโs.
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When skimming rewards, note that you will see your mevETH balance decrease, as the ERC-4626 vault contains the rewards accrued over time.
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As a final note, mevETH also increased its weight distribution in yETH, and will increase to 6.98% of the basket. With Skimming, Withdrawing, and Exiting now enabled, this unlocks more potential for further integrations with other protocols.
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This rollup will be LST agnostic, so builders & searchers could deposit mevETH and other participating LST's into the L1 deposit contract to access the L2 Auction. LSTโs simply change their relay endpoint exclusively to the new Manifold Relay endpoint, avoiding migration.
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If you decide to redeem your mevETH, you will receive your claim of the vault proportional to the redeemed shares. Simple as that ๐.
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LP Pools exist on Curve and Balancer, with LP Staking available though Convex, Yearn, and Aura. Refer to the past article regarding liquidity provision.
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Accrued rewards will continue to be distributed on a weekly basis, with the next one scheduled on December 23rd.
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yETH is governed by its holders, and vote on the weights of the LSTโs in the pool. st-yETH holders vote on which new whitelisted LSTโs get included.
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A new frontend is underway, providing users a dashboard to track accrued rewards & view current incentives. Also, it will provide ways to earn additional rewards through the new Auction system and other integrations once the upgrade for secondary market trading is released.
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The new MEV Auction system being developed has been finalized, and is underway. Testnet is expected late Dec, with first version in mid-Jan. There are a few planned upgrades for the system, with the first being entirely permissioned, and implemented in a custom OP-based Rollup.
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T-minus 7 minutes.
Epoch 2 is upon us, and the LSTs are vying for your votes anon ๐ณ๏ธ. Set a reminder for our yETH spaces, hosted by a man who chose a cylindrical vegetable for his online identity @omgcorn ๐ฝ. And with guests from @Rocket_Pool, @meta_pool, and @mevdotio .
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Vote on chain on Ethereum Mainnet, or Mantle. If mevETH receives votes exceeding 15,000 ETH, it will be integrated into EigenLayer in the upcoming months. For each number of whitelisted LST you have, you will receive one vote.
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