Propose a mechanism for MEV protection utilizing Lit’s threshold cryptography network, inspired by the efforts of Shutter.
As Shutter is mainly focused on eliminating MEV on the main Ethereum blockchain, we would like to shift our own efforts and direct the focus of this RFP on eliminating MEV at the level of L2s / side-chains.
Maximal Extractable Value (MEV) refers to the maximum amount of monetary value that can be extracted by block producers by re-ordering, front-running, or excluding transactions in a block. MEV has contributed to billions of dollars of value extracted from users, inequitably favoring validators and specialized Searchers.
Eliminating MEV is quite literally a billion dollar problem and will contribute to more equitable consumer markets and ensure censorship resistance on public blockchain networks.