Flashbots Introduces MEV-Share

Wednesday, February 15, 2023

Quick Take

  • Flashbots introduces MEV-Share.
  • KoruDAO launches a DAO-owned Lens Profile.
  • Blur releases an OpenSea blocklist tool.
  • A proposal to make $SUDO transferable goes live.

Flashbots Introduces MEV-Share

Flashbots introduced MEV-Share, a protocol for matching users and searchers. The protocol aims to redistribute a portion of MEV generated from a users transactions, back to the user. MEV-Share introduces the matchmaker, a new entity that attempts to match searcher bundles with private user transactions and sends any matched bundles to builders for execution.

Searchers benefit from accessing new transactions, builders get to build blocks with additional order flow, and users get back a portion of their transaction fee. Matchmakers could add a fee for providing the matchmaking service, however, how much to charge and how to collect the fee is still being researched.

MEV-Share uses programmable privacy, which allows users to share selective information with searchers for optimizing the outcomes of MEV redistribution. Bundles sent to builders also include a validity condition, which requires builders to pay a portion of MEV back to the user.

KoruDAO Launches DAO-Controlled Lens Profile

Gelato Network launched KoruDAO, a DAO-controlled Lens Profile that allows Koru NFT holders to post from the account once every twelve hours. A collection of 282 free mint NFTs was released and provides membership access to the DAO. Lens Profile holders who met eligibility criteria were able to mint the NFT on a first come basis.

KoruDAO is an experiment in decentralized ownership of a Lens Profile. Members will decide how to curate content and how to use DAO revenue. The frontend and smart contracts are also open-source, allowing developers to contribute new features or fork KoruDAO to build their own implementation. Disclosure: ETH Daily currently holds a Koru NFT.

Blur Releases OpenSea Blocklist Tool

NFT marketplace Blur updated its royalty policy, requiring a 0.5% minimum royalty on all collections and introducing a new OpenSea blocklist tool. A blog post written by Blurs founder, who goes by the pseudonym Pacman, notes that Blur will now enforce full creator royalties on collections that blocklist NFT trading on OpenSea.

The new policy is similar to OpenSeas, which requires creators to blacklist royalty-free NFT marketplaces to be eligible for enforced royalties. As an additional incentive from Blur, only creators who implement the blocklist tool will be eligible to receive $BLUR creator rewards. Blur admits that collections without blocklists are maximally decentralized.

Timestamping Off-Chain Attestations With EAS

Ethereum Attestation Service (EAS) released support for timestamping off-chain attestations on-chain. Users can now timestamp or batch timestamp off-chain attestations using the Easscan explorer. The implementation works by timestamping and referencing the unique identifier (UUID) of an off-chain attestation on-chain.

This timestamp allows users to verify that an attestation existed at a specific time. Timestamping is also cost-effective since it only requires the timestamp of the unique identifier. EAS is an open-source tool for creating on-chain and off-chain attestations. EAS is currently live on the Sepolia testnet with a mainnet launch planned this month.

Proposal To Enable $SUDO Transferability

An on-chain proposal to enable transferability for Sudoswaps $SUDO governance token is now open for voting. An initial proposal to enable $SUDO transferability failed amid liquidity concerns. As a result, the new proposal includes a 3-month liquidity mining program on Uniswap V2 in hopes of incentivizing liquidity. If approved, Sudoswap will distribute $375,000 worth of $SUDO from its treasury to LPs.