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ROP-5

Ethereum Supply Network Health

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Meeting #1

Thomas Thiery, Davide Crapis

Robust Incentives Group, Ethereum Foundation

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blocks

users?

proposers?

Validators

Users

Relay 1

Relay 2

Relay 3

Builders

Searchers

Source: https://barnabe.substack.com/p/pbs

The Ethereum Supply Chain Network

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The Ethereum Supply Network

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Validators

Users

Relay 1

Relay 2

Relay 3

Builders

Searchers

Mempool

EOF

Wallets

RPC Endpoints

dApps

SUAVE

Bundlers

EigenLayer

Alt

Mempool

MEV share,

Wallet Boost

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ROP-5: Wat do?

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Design robust metrics to monitor the Ethereum network supply health

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Metrics

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Statistics

Graph (centrality, communities)

ML

Solutions

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EigenLayer

SUAVE

Wallet Boost

Network Interactions

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Searcher - Builder

Relay - Proposer

User - Wallet

Data Sources

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Onchain

Mempool

Off-chain (eg., relay)

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ROP-5: Wat do?

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Examples of more specific projects

  • Public MEV specs for metrics and tables, Github

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  • Theoretical framework for quantifying MEV strategies (single and cross domain arbitrage, sandwiches, liquidations, etc…)

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  • Estimating MEV flows (searchers, builders, proposers)

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  • MEV and censorship resistance

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ROP-5: MEV and Censorship resistance

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  • IT_delay = IT_censored - median(IT_uncensored with priority fees ±10% of the censored tx)

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  • Median IT delay for censored transactions on February 1st: 11.43 s

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Estimate the impact censoring relays have on inclusion time (IT) for censored and uncensored transactions.

BlockNative mempool Data &�Flashbots Relay Data�

Source: Estimating inclusion delays for censored transactions post on ethresear.ch

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ROP-5: MEV flows

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Estimating MEV flows along the chain

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  • User loss
  • Searcher take
  • Builder take
  • Proposer take
  • Burn (holder take)

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ROP-5: MEV flows

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How to measure segmentation of supply chain?

  • Vertical integration
  • Exclusive order flow
  • Infer from bids

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How does the degree of competition impact take at different stages/segments?

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How stable are the above at different time-frames & market-regimes?