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Flashing A Light On The Dark Forest – Part 1

Oct 13, 2021 · 13 min read

By Joo Kian, Genevieve Yeoh, Paul Burlage, and Medio Demarco

The concept of Maximal Extractable Value (MEV) has been thrust into the spotlight over the past few years, particularly as DeFi has emerged, becoming an integral component of a network’s economic incentives. A simple definition is that MEV is the maximal value that can be extracted from deciding the transaction order in a block. The game theory around MEV, however, is far from being so simple.

Importantly, MEV has nega

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