MEVBoostAA

Only validators and searchers benefit from current MEV ecosystem while the transaction senders where MEV is actually extracted from are excluded.

In fact, senders need to pay twice for the transaction execution: the transaction fee and the fetched MEV. The latter always goes against the intention of the sender and can be consider as a robbery in secret towards sender.

The project supports senders to capture MEV under the ERC-4337 framework:

• Senders use special ERC-4337 wallets called MEVBoostAccount and send special userOps called BoostUserOp which invokes boost methods of MEVBoostAccount.
• Searchers use a special ERC-4337 paymaster called MEVBoostPaymaster which refunds maxium MEV to senders by BoostUserOp auction and also pays transaction fee for BoostUserOp.

The project mainly has following advantages:

• Improve the current MEV ecosystem and maximize the sender's interests by trustlessly ensuring the maxium MEV capture by the sender.
• It provides a completely decentralized and permisionless MEV-Share solution.
• Considering the existence of MEV, the project promotes the adoption of the ERC-4337 wallet by providing the build-in mev capture features and making transaction cost possibly less expensive than the EOA.

Value Redirection

Current MEV Ecosystem

• In the view of the sender
  • sender --[fee to excute tx]--> validator
• The fact goes against the intention of the sender
  • sender --[fee to excute tx]--> validator
  • sender --[mev caputured by searcher]--> searcher
  • searcher --[share mev with validator]--> validator

MEV Ecosystem with MEVBoostAA

MEVBoostAA captures MEV from searchers to senders based on the framework of ERC-4337. so, senders will be protected.

• sender --[mev caputured by searcher]--> searcher
• searcher (as a paymaster) --[fee to excute tx] --> validator
• searcher --[maxium MEV refund]--> sender
• searcher -- share mev with validator --> validator

SDK

• sdk for account
• sdk for searcher

Work Flow

The sender just need to depoly a ERC-4337 wallet MEVBoostAccount, construct a BoostUserOp (i.e. a userOp calling the boostExecute or boostExecuteBatch method) and broadcast it to the ERC-4337 mempool.

The first parameter of the method boostExecute or boostExecuteBatch is MEVConfig which including minAmount(i.e. minium required mev amount) and selfSponsoredAfter(i.e. timestamp after which the BoostUserOp is executed without searcher and MEVBoostPaymaster).

Searchers who have deposited fund to MEVBoostPaymaster will grab BoostUserOps in the ERC-4337 mempool.

• If the BoostUserOp is profitable, the searcher will fill paymasterAndData to make BoostUserOp valid, build a profitable ERC-4337 bundle including that BoostUserOp and send it to the bundler. Finally, if BoostUserOp is success, the sender will get minAmount MEV value from searcher and the BoostUserOp is sponsored by the searcher.

• If the BoostUserOp is not profitable, the searcher will not fill paymasterAndData of the BoostUserOp. That BoostUserOp in the ERC-4337 mempool will be valid after timestamp selfSponsoredAfter. The bundler will regularly bundle and execute that BoostUserOp.

Briefly, a BoostUserOp is valid when one of the following conditions is met:

• The searcher fills the paymasterAndData, pays minAmount MEV value to the sender and sponsors that BoostUserOp.
• The BoostUserOp is valid after timestamp selfSponsoredAfter and sponsored by the sender.