Tarun Chitra

Towards a Theory of Maximal Extractable Value I: Constant Function Market Makers

2022 · arXiv (Cornell University)

Maximal Extractable Value (MEV) refers to excess value captured by miners (or validators) from users in a cryptocurrency network. This excess value often comes from reordering users' transactions to maximize fees or from inserting new …

Credible, Optimal Auctions via Public Broadcast

2023 · arXiv (Cornell University)

We study auction design in a setting where agents can communicate over a censorship-resistant broadcast channel like the ones we can implement over a public blockchain. We seek to design credible, strategyproof auctions in a …

Towards a Theory of Maximal Extractable Value II: Uncertainty

2023 · arXiv (Cornell University)

Maximal Extractable Value (MEV) is value extractable by temporary monopoly power commonly found in decentralized systems. This extraction stems from a lack of user privacy upon transaction submission and the ability of a monopolist validator …