MEB: The Minor Shot of a Value

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Jules: I definitely agree with RE on this one. So what is MEB, minor shot of a value? Jules: It's the idea that whoever the block proposal is can like use those powers in order to extract value and get some edge. Front running is probably the biggest class of MEB attacks. sandwich attacks would be something like if there's liquidations happening, right? And someone has to be the one to trigger the liquidation and they get some profit by doing so. This type of MEB, I mean, you know, we have ideas for how to restrict it.

This week, Anna and Tarun chat with Sunny Aggarwal and Dev Ojha about their new project Osmosis, an AMM built into the Cosmos ecosystem using the IBC interoperability protocol.

Osmosis brings some interesting innovations to the AMM table, starting from the seamless IBC integration to customizable bonding curves and per-pool governance to promote experimentation. Sunny and Dev are also very passionate about the topic of MEV, diving into the various types of value extraction, how MEV is mitigated on other networks and how it could be largely eliminated on Osmosis through threshold cryptography.

Here are some links for this episode:

Anoma’s Adrian Brink on Validity Predicates, Ferveo DKG & More, Zero Knowledge Episode 184
CowSwap & DAO Tech with Gnosis’s Martin Köppelmann, Zero Knowledge Episode 183
Arkworks SNARK libraries with Pratyush Mishra, Zero Knowledge Episode 169
Threshold Decryption for mempool privacy with Dev Ojha, the ZKV event where Dev spoke earlier.
Flashbots with Phil Daian and Stephane Gosselin, Zero Knowledge Episode 168
General intro to Osmosis.

ZK Validator now supports OSMO staking delegation, so if you’re interested in supporting the network check out the info here: https://zkvalidator.com/osmosis

Thanks to this week’s sponsor, Least Authority!

Least Authority will soon be releasing a whitepaper on ZKAPs – Zero-Knowledge Access Passes. ZKAPs is an anonymous, token-based authorization protocol that facilitates an online exchange of value while disconnecting the necessary payment data from the day-to-day usage service data of customers.

If you'd like to be notified of the ZKAPs whitepaper and the latest security research projects, sign up for their monthly newsletter at https://leastauthority.com/newsletter/

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