Anders Elowsson

@anderselowsson

78 Following

329 Followers

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

Apples of the Infinite Garden: A Children's Book on EIP-7918 Audrey the Auctioneer, Pontus the Ponderer and Therese the Tree Tender have started an apple orchard in a huge garden. The friends have a vision: feeding the world with apples. Let's follow them on their journey 🧵👇

3 replies

7 recasts

55 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

Q&A 🧵 on EIP-7918 This thread summarizes my responses on Ethereum Magicians to four questions from @dataalways concerning: the coupling of fee markets, alternative designs, a comparison with EIP-7762, and the empirical impact of a price floor for blobs. Let’s dig in 👇

1 reply

1 recast

14 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

Check out EIP-7918: Blob base fee bounded by execution cost. PFI in Fusaka. A simple if-else ensures the price for target blobs > the tx price to carry them. The blob auction can then reach equilibrium relative to the price signal. https://ethereum-magicians.org/t/eip-7918-blob-base-fee-bounded-by-execution-cost/23271

1 reply

18 recasts

118 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

This post proposes a mechanism for users to protect their txs against MEV extraction. Users encrypt and decrypt their txs without intermediaries using a simple cryptographic hash, trustlessly achieving an encrypted mempool. https://ethresear.ch/t/sealed-transactions/21859

1 reply

4 recasts

13 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

🧵 Rainbow roles & incentives: ABPS + FOCILR + AS This post explores the limits of a maximally unbundled staking set, examining potential rainbow roles and the incentive designs required to coordinate them. It presents three unbundling mechanisms: https://ethresear.ch/t/rainbow-roles-incentives-abps-focilr-as/21826

1 reply

1 recast

22 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

In Orbit SSF, validators rotate based on size, leading larger validators to take on greater risks. We must therefore provide some incentives to ensure consolidation in the staking set. This post offers a framework for designing such incentives. https://ethresear.ch/t/consolidation-incentives-in-orbit-vorbit-ssf/21593

1 reply

3 recasts

25 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

My talk from Devcon on a Practical endgame on issuance policy is now up. I review the motivations, impacts and potential downsides of a reduction in issuance. This thread will visualize an automated gradual reduction in issuance, which I suggested in an answer at the end. https://www.youtube.com/watch?v=m91Wu6-cdwk

3 replies

3 recasts

34 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

Here is rough draft of how we can design consolidation incentives in Orbit SSF. Publishing it now since I will briefly refer to it during my talk at Devcon tomorrow. https://notes.ethereum.org/@anderselowsson/Incentives_SSF

0 reply

0 recast

4 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

Practical endgame on issuance policy This post presents a practical endgame on issuance policy that can stop the growth in stake while guaranteeing proper consensus incentives and providing positive regular rewards to diligent small solo stakers. https://ethresear.ch/t/practical-endgame-on-issuance-policy/20747

2 replies

7 recasts

59 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

Vorbit SSF with circular and spiral finality: validator selection and distribution This post analyzes how cumulative finality accrues across committees in single-slot finality (SSF) for a wide range of validator sets, with a key focus on committee design. https://ethresear.ch/t/vorbit-ssf-with-circular-and-spiral-finality-validator-selection-and-distribution/20464 ✍️

1 reply

3 recasts

5 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

I wish to highlight is how to present yield distributions for non-pooled stakers. Some webpages and researchers rely on things like the median across all validators over some minuscule time period, averaging these medians over time. This fails to capture the probabilistic outcome facing the solo staker. Half of the validators will never propose a block during the same day, yet half will still propose within a few months. Order statistics are instead relevant on a per-validator basis over longer time. To check if it is raining, do not extend your hand and measure the median number of fingers impacted by raindrops every millisecond. The result will always be zero; yet it might still rain. The tiny vertical black line segment is the solo stakers that do not have a block proposal or sync-committee duty over a year, presented as the “all-time median” on sites such as Rated. The real median outcome facing solo stakers after one year is indicated by a black arrow, fairly close already to the expected yield.

1 reply

0 recast

3 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

Sealed execution auction https://ethresear.ch/t/sealed-execution-auction/20060

0 reply

1 recast

5 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

MEV resistant dynamic pricing auction of execution proposal rights: This post presents an alternative auction mechanism for selling execution proposal rights in advance, relevant to current research on ET/EA. It induces little new MEV, producing a high aggregate MEV burn. Link👇

1 reply

1 recast

4 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

Burn incentives in MEV pricing auctions This post identifies a strong incentive for burning MEV through early bidding in MEV auctions: Stakers wish to prevent competitors from attaining a higher equilibrium yield than them. They will integrate with builders to burn MEV. Link👇

2 replies

1 recast

3 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

https://warpcast.com/anderselowsson/0x1381ee86

0 reply

0 recast

6 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

FAQ: Ethereum issuance reduction When it comes to reducing issuance, there are many important questions to consider. Having studied these questions extensively, I thought it would be fruitful to address them one by one with detailed answers. Link 👇 https://ethresear.ch/t/faq-ethereum-issuance-reduction/19675

2 replies

1 recast

3 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

One million validators. A reminder that there is a proposal for tempering issuance, which would bring many benefits. Would be great to see more discussion within the community on the proposal, and I'm available to answer any questions. https://ethresear.ch/t/reward-curve-with-tempered-issuance-eip-research-post/19171

0 reply

0 recast

1 reaction

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

There is a paradigm for the reward curve that I wanted to highlight: a reward curve with capped issuance. It is similar to the reward curve with tempered issuance. I outline the baseline design here and will return with a longer write-up. https://notes.ethereum.org/@anderselowsson/Reward-curve-with-capped-issuance

0 reply

0 recast

6 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

Foundations of minimum viable issuance. A simple post on the core premise behind a change to Ethereum’s issuance policy. There are many benefits to minimum viable issuance; I wanted to emphasize how it inherently creates value by reducing costs to users. https://notes.ethereum.org/@anderselowsson/Foundations-of-MVI

1 reply

0 recast

6 reactions

Anders Elowsson pfp

Anders Elowsson

@anderselowsson

I often come back to this paper, it is like re-watching a good old movie https://www.econlib.org/library/Essays/hykKnw.html

0 reply

0 recast

2 reactions