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notes for Reorg WTF talk.md

MEV and protocol design

BFT system design in the presence of MEV

Liveness : Number of correct nodes for the protocol to progress Safety: The number of faulty nodes to create view inconsistency. Accountability: Does a fault produce verifiable evidence of the byzantine actor.

Safety: MEV extraction that violates safety will always be accountable. In protocols that have slashing, this means economic punishments and burned stake.

Are protocols without slashing robust in the presence of MEV?

Liveness thresholds are connected to weakly accountable MEV thresholds.

The MEV extracting cartel can refuse to agree to blocks where the cartel doesn’t extract .

MEV censorship mutually assured destruction between cartels.

What should protocol designers do?

  1. We can design more accountable protocols. There are designs for more accountable variants of virtually all major protocols like Tendermint/Hotstuff, Finality gadgets, Avalanche.
  2. Fully asynchronous protocols like Honeybadger are designed to be more robust to influence from cartels.
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