The Flashbots team released an article and associated PoC exploring how MPC may be used to privately backrun users’ transactions in an effort to positively reshape MEV extraction in a way that delivers value to the end user.
Using the above research as a starting point, flesh out the Flashbots PoC using Lit as the backend MPC provider.
Why? (problem statement)
Maximal Extractable Value (MEV) refers to the maximum amount of monetary value that can be extracted by block producers by re-ordering, front-running, or excluding transactions in a block.
MEV currently contributes to billions of dollars of value extracted from users, inequitably favoring validators and specialized Searchers.
What will this tool enable?
Enable Searchers to backrun users’ transactions in a completely privacy-preserving manner using Lit as a MPC solution. This will serve to reshape the MEV extraction industry and help offer greater benefits to end users.
Description
The Flashbots team released an article and associated PoC exploring how MPC may be used to privately backrun users’ transactions in an effort to positively reshape MEV extraction in a way that delivers value to the end user.
Using the above research as a starting point, flesh out the Flashbots PoC using Lit as the backend MPC provider.
Why? (problem statement)
Maximal Extractable Value (MEV) refers to the maximum amount of monetary value that can be extracted by block producers by re-ordering, front-running, or excluding transactions in a block.
MEV currently contributes to billions of dollars of value extracted from users, inequitably favoring validators and specialized Searchers.
What will this tool enable?
Enable Searchers to backrun users’ transactions in a completely privacy-preserving manner using Lit as a MPC solution. This will serve to reshape the MEV extraction industry and help offer greater benefits to end users.
Resources
Flashbots Proof of Concept.
How Lit Works.
Working with the Lit SDK.