In Part 1, we discussed how Flashbots Auction mitigates the negative effects of MEV by introducing a trusted, central relay for searcher bundles. In Part 2, we discuss how MEV markets will evolve when Ethereum moves to PoS consensus.
In this series, we consider the design of MEV marketplaces under PoW and PoS consensus. We analyze natural centralizing forces and value extraction mechanisms in these marketplaces. We focus on MEV marketplaces on the Ethereum network, but many of the conclusions are applicable to other blockchains.