Protocol-Native MEV Brokering with Ethereum Execution Tickets ∞ Research

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Briefing

The current external extraction of Maximal Extractable Value (MEV) by validators introduces centralization risks and uneven value distribution within blockchain networks. This paper proposes Execution Tickets, a novel protocol-native mechanism, to integrate MEV brokering directly into the Ethereum protocol. This new theory promises a more equitable value distribution and enhances the economic robustness and security of the underlying blockchain architecture. The approach front-loads the entire theoretical picture of MEV management.

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Context

Before this research, MEV was largely captured through off-protocol mechanisms, leading to an opaque and often centralizing market. This external MEV market posed a significant challenge to the long-term decentralization and fairness principles of blockchain design. This established limitation highlighted the need for a more structured, protocol-level approach to MEV management.

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Analysis

The paper’s core mechanism, Execution Tickets, introduces a new, native Ethereum asset representing the right to propose execution payloads. This system fundamentally shifts MEV capture from an external, validator-driven process to an internal, protocol-managed system. The protocol gains control over value distribution by directly brokering MEV, transforming it into a structured, on-chain incentive. This re-architecture aims to align economic incentives more closely with network health and security, moving beyond ad-hoc external solutions.

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Parameters

Core Concept ∞ Execution Tickets
New System/Protocol ∞ Ethereum Protocol-Native MEV Brokering
Key Author ∞ Jonah Burian
Platform Analyzed ∞ Ethereum Blockchain
Research Area ∞ Cryptography and Security, Computer Science and Game Theory

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Outlook

This theoretical framework paves the way for a more integrated and transparent MEV market, potentially unlocking new designs for fairer transaction ordering and decentralized application economics. It opens research into dynamic ticket pricing mechanisms and the long-term economic stability of protocol-brokered MEV. Such advancements could fundamentally reshape how value accrues and is distributed across decentralized ecosystems in the coming years.

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Verdict

This research offers a critical architectural shift for MEV management, directly integrating value extraction into the protocol to strengthen blockchain economic security and fairness.

Signal Acquired from ∞ arxiv.org