5 papers
Competing Auctions in Intermediated Markets
Bruno Mazorra, Minghao Pan, Christoph Schlegel
We analyze competing auctions in intermediated markets, where a seller selects among parallel mechanisms for the sale of a single good, most prominently the relay-and-protocol arch…
The Price of Decentralization in Block Building
Burak Öz, Burak Ãz, Fei Wu +4
Decentralized block building mechanisms replace the monopoly of a single proposer with multiple builders. However, their censorship-resistance and fair-access benefits depend not o…
Timing Games: Probabilistic backrunning and spam
Bruno Mazorra, Christoph Schlegel, Akaki Mamageishvili
There are players who compete by timing their actions. An opportunity appears randomly on a time interval. Whoever takes an action the fastest after the opportunity has arisen…
The Free Option Problem of ePBS
Bruno Mazorra, Burak Ãz, Christoph Schlegel +1
Ethereum's upcoming Glamsterdam upgrade introduces EIP-7732 enshrined Proposer--Builder Separation (ePBS), which improves the block production pipeline by addressing trust and scal…
Cross-Chain Arbitrage: The Next Frontier of MEV in Decentralized Finance
Burak Ãz, Christof Ferreira Torres, Christoph Schlegel +4
Decentralized finance (DeFi) markets spread across Layer-1 (L1) and Layer-2 (L2) blockchains rely on arbitrage to keep prices aligned. Today most price gaps are closed against cent…