New Paper Alert🚨 Mallesh Pai and I consider transaction fee mechanism design in a dynamic context where users don't just care about immediate inclusion but instead face a dynamic tradeoff between faster inclusion and lower fees. 1/n

Another version of the GIF which highlights how dramatic the base fee shifts are. Also note how many mempool transactions pile up when there is a high base fee!

NEW RESEARCH "Optimizing Exit Queues for Proof-of-Stake Blockchains: A Mechanism Design Approach" Changing validator sets over time potentially erodes proven security of fault-tolerant consensus protocols. by mikeneuder.eth ⟠, Mallesh Pai, Max Resnick mechanism.org/spec/06

MEV is fundamentally about control. The proposer has control of which transactions make it into blocks and which order they appear in. In other words MEV is all about censorship and reordering. The good news is that fixing this is possible! 1/5 I explain how in a new post:

Scale the L1

With the renewed institutional interest in Ethereum staking, many are taking a closer look at validator exits. We found that there was less clarity about Ethereum's exit process in public writings, so we decided to fix it. Here's a quick ELI5 (with mikeneuder.eth ⟠): 🧵👇

While your TL is cluttered with questionable April fool's gags, here's a palette cleanser by mikeneuder.eth ⟠, Mikhail Kalinin 🔥🧱, and myself--- an article describing and motivating our recently proposed EIP-7922 improving voluntary validator withdrawals (1/n)

Ethereum's latest network upgrade, Pectra, just went live, at epoch 364032! Pectra is packed with powerful changes - smart accounts, enterprise-grade staking, and L2 performance boosts. Here’s why Pectra is a massive and exciting update that will change the face of web3.🧵👇