MEV Protocol FAQ's

[0xTangle]

NEW FEATURE REQUEST FAQ's to be answered.

Create an ongoing updatable page to keep all the questions contained together and undateable as new information comes out.

Can be created on the Forums, and updated in other appropriate channels.

Wen Redemptions?

• Why we need to wait for redemptions
• Do you need to redeem 32 at a time?
• What if you have less?
• Is there a purgatory pool?

Opting into the Relayer

• LST’s have the ability to leverage the Manifold/MEV-Boost/Multi Auction winner system. What changes do they need to do in order to make this happen?
• By being included in the stack, how does their protocol help?
• If an LST’s validator gets chosen for a block, what does the workflow look like all the way from searcher to builder to relay to validator?
• What does the rewards breakdown look like for the LST’s and MEV Protocol/Manifold. Percentages and/or framework so users can understand value flow.

Secondary / Bottom-of-the-Block Auction Winner

• Previous MEV-Boost system will still apply to Block auction winner?
• Where do the proceeds or fees go with the MEV-Boost winner? Block builder / Manifold / MEV Protocol / 3rd Party LST’s/?
• With the secondary / BotB Auction winner, where do the proceeds or fees end up? What portions to mevETH / LST, or FOLD?
• Any breakdown or value flow of the above that may have been missed in the questioning you feel could be better.
• How do searchers interact or opt in to the Auction?
• What parts of this system are permissioned?

[ControlCplusControlV]

Wen Redemptions?

> Why we need to wait for redemptions
Redemption are currently awaiting activation as soon as the stake migration reaches a threshold, so that mevEth reward distribution doesn't cause tokens to be overvalued, making it more expensive to mint new mevEth.

> Do you need to redeem 32 at a time?

Not at all, mevEth can handle withdrawals of any size, either by exiting a validator from the beacon chain, which takes time, or using new incoming deposits to effectively swap positions.

> Is there a purgatory pool?
If you are exiting in large amounts, you will need to await exit queues on beacon chains, which can take several days depending upon congestion.

[ControlCplusControlV]

LST’s have the ability to leverage the Manifold/MEV-Boost/Multi Auction winner system. What changes do they need to do in order to make this happen?

> MevEth runs its own builder in the background which plugs into our existing nodes and infrastructure. (cc @sambacha to confirm on this)

By being included in the stack, how does their protocol help?

> ???

If an LST’s validator gets chosen for a block, what does the workflow look like all the way from searcher to builder to relay to validator?
(sidenote: Do we actually need this? It is really technical)
> The mevEth builder will find the most profitable block for the validator to propose it, and then compared against other builder's blocks, and the block which is most profitable will be proposed by the validator

What does the rewards breakdown look like for the LST’s and MEV Protocol/Manifold. Percentages and/or framework so users can understand value flow.

@sambacha do you know protocol fees numbers?

[ControlCplusControlV]

Secondary / Bottom-of-the-Block Auction Winner

    Previous MEV-Boost system will still apply to Block auction winner?
    Where do the proceeds or fees go with the MEV-Boost winner? Block builder / Manifold / MEV Protocol / 3rd Party LST’s/?
    With the secondary / BotB Auction winner, where do the proceeds or fees end up? What portions to mevETH / LST, or FOLD?
    Any breakdown or value flow of the above that may have been missed in the questioning you feel could be better.
    How do searchers interact or opt in to the Auction?
    What parts of this system are permissioned?

This should not be answered until this system is closer to being ready, as our auction system is still being specced out and too early to describe in an FAQ

[0xTangle]

Wen Redemptions?

> Why we need to wait for redemptions
Redemption are currently awaiting activation as soon as the stake migration reaches a threshold, so that mevEth reward distribution doesn't cause tokens to be overvalued, making it more expensive to mint new mevEth.

> Do you need to redeem 32 at a time?

Not at all, mevEth can handle withdrawals of any size, either by exiting a validator from the beacon chain, which takes time, or using new incoming deposits to effectively swap positions.

> Is there a purgatory pool?
If you are exiting in large amounts, you will need to await exit queues on beacon chains, which can take several days depending upon congestion.

What is the targeted threshold? Percentage?

[ControlCplusControlV]

tbh this component is already satisfied, we have an overwhelming majority migrated

[0xTangle]

In cases less than 32 ETH, like let's say 2 mevETH withdraw, what is happening on the back end? Is there a pool log to wait until 32 ETH are tallied up to remove, or do we have some ETH waiting in a pool ready to remove? Or would this just pull from the "purgatory" pool where less than 32 ETH has been deposited into the mint contract? Just want to dial in the mechanisms in place to be able to serve any questions and be able to understand whats happening once users start withdraws.

[sandybradley]

In cases less than 32 ETH, like let's say 2 mevETH withdraw, what is happening on the back end? Is there a pool log to wait until 32 ETH are tallied up to remove, or do we have some ETH waiting in a pool ready to remove? Or would this just pull from the "purgatory" pool where less than 32 ETH has been deposited into the mint contract? Just want to dial in the mechanisms in place to be able to serve any questions and be able to understand whats happening once users start withdraws.

If there is sufficient eth on the contract, withdraws/redeems are fulfilled immediately. If not, a withdrawal queue is opened, which can be claimed after the contract operator has processed the queue from rewards/exits.

[ControlCplusControlV]

Yup, @sandybradley captured it well