The Block Auction Infrastructure Race
Empirical analysis on the increasing importance of latency in block building for mevboost auctions.
Local block building and gas limit increases
Why Ethereum’s gas limit increase may favor MEV builders while leaving solo stakers largely unaffected
The Role of Relays in Reorgs
Analyzing the reorg and reorging rates of different relays and how MEV auction structure changes during this blocks.
Understanding Minimum Blob Base Fees: Analysis of EIP-7762
Blob market analysis during demand spikes and the potential impact of EIP-7762
Supplementing Censorship Resistance Today
Why a tuned LocalBlockValueBoost may be the best near-term defense against censorship
The Silhouette of Resilience
Using discontinuities in MEV data to footprint which proposer sets leverage min-bid and what share of OFAC non-compliant blocks min-bid accounts for on the network.
Latency is Money: Timing Games /acc
Empirical analysis on timing games and who is playing them.
Distortion of MEV Auctions by Withdrawals
Empirical analysis on the prevalance of bid scoring distortions in mevboost auctions in support of mev-boost improvement proposal #0
The Year in Blockspace Demand (2023)
What blockchains did people use in 2023? And what did they use them for?
Timing Games - MEV CC 7
Summary and commentary on mevboost community call #7
The Influence of CeFi-DeFi Arbitrage on MEV-Boost Auction Bid Profiles
Empirical modelling of intrablock bid values during times of high price volatility to estimate the efficacy of MEV burn.
Rules and strategies of a protocol
The path to and impact of MEV-Burn on Ethereum
Is it insane to speculate on Friend.Tech keys?
Analysis of the impact of fees and bonding curves on FriendTech key speculation.
Explaining the Friend.Tech experience with Pokémon Blue
Shitpost explaining the difference in experiences for FriendTech users with references to Pokemon for Gameboy.
Addendum: Endgame Perils of Restaking
A supplement to Endgame Perils of Restaking.
User Generated Content Data Platforms
Managing IP issues on UGCDPs and why the current solutions are incomplete.
Endgame Perils of Restaking
Fear not that restaking protocols might fail, but that they could succeed.
Dichotomous Volatility
Living in crazy times: the expected volatility of US Treasuries is at its highest value since the launch of Ethereum.
The impact of inscriptions on Bitcoin's fee market
The first empirical analysis of the impact of inscriptions.
Partial withdrawals after the Shanghai fork
Modelling the distribution of rewards by validator cohort.
The Economics of a Witness Stuffing Chain Stall Attack
How inscriptions on Bitcoin may lead to short-term censorship.
Blockspace Competition and Inclusion Times
How temporal competition and long-tails skew block inclusion times.
The Year in Blockspace Demand (2022)
What blockchains did people use in 2022? And what did they use them for?
A wish list for crypto in 2023
Community changes I would like to see in the coming year.
The Merge and crypto's electricity consumption
How much energy use did Ethereum's transition to proof-of-stake really reduce
Location didn’t matter for Bitcoin miners, until it did
Casualties have begun rolling in with Core Scientific warning last week that the company will fail to make debt payments in the coming months, echoed Monday by Argo Blockchain’s similar notice.
Staking yield and ratios
Commentary on the concept of staked ether as The Internet Bond
Coin Metrics' State of the Network: Issue 169
With Ethereum’s final steps to PoS engaged, how is the options market pricing in The Merge?
The bitcoin security model endgame
(Part 2) Open questions on the dynamics of subsidy-free proof-of-work
The state of bitcoin transaction fees
(Part 1) How are miners handling the bear market and how is miner revenue from transaction fees comparing to expectations derived from past cycles?
Manipulating the velocity of money in proof-of-stake
The false dichotomy of ultrasound money deterring token usage.
Decoding cryptoasset network effects
Using dual-logarithmic grids to rapidly classify value propositions.
How is the options market pricing The Merge
Is the market expecting high volatility around the transition to proof-of-stake?
Ethereum validator withdrawals
Supply surge dynamics from partial withdrawals and validator exits
Trading accumulation trend scores
Evaluating the predictive power of Glassnode's and Ecoinometrics's accumulation metrics.
Macro trend analysis via altcoin correlations.
How changes in the spread of altcoin correlations to bitcoin and ether can be used to model market sentiment and risk preferences.
The base effects of revenue per hash
Revenue per hash is down 70% over the past 6 months, perhaps bringing a close to one of the most profitable periods in Bitcoin mining history.
Proof-of-stake and the Cantillon effect
The fixed income analogy used to model staking cash flows, or issuance in flows models, is flawed.
Positioning Bitcoin mining stocks in a portfolio
Statistically optimizing portfolio weightings for a bull market.
Network effects: ethereum
Modelling evolving decentralization through network valuation
Network effects: bitcoin
Is it all just Metcalfe's Law? Where does it take us?
Is Bitcoin Long-Volatility?
Does Bitcoin have the potential to become a risk-off asset in the face of global instability?
A Flows-Based Ethereum Price Model
Modelling supply-and-demand dynamics after the merge.
Flows Analysis of Bitcoin Price History
Using long-term holder signalling to model fiat demand inflows.
The Supply Stability of EIP-1559
How the London hardfork has reduced the volatility of supply inflows.
Cryptocurrency Portfolio Optimization
How to best allocate for all market conditions in a cryptocurrency only portfolio?
Trading bitcoin exchange flows during a bull run
Why correlations not flows are the metric to watch.
The Bitcoin Fear & Greed Index
Expected forward returns through investor sentiment.
Below the surface of EIP-1559
How well is the London hard fork accomplish its goals?
Exchange Balances / Flows
Looking at price-flow correlations to time market bottoms.
State of the (Ethereum mining) union
Examining ether mining post EIP-1559.
EIP-1559
An early look at the results of the London hard fork.