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The dYdX v4 platform is considering a social mitigation strategy for Miner Extractable Value (MEV) that involves creating a MEV Slashing Committee to monitor MEV activities and recommend actions, but the community is divided over its potential effectiveness, budget, and conflicts of interest. The committee's goal is to deter malicious MEV and standardize responses, yet concerns about its reliance on data from Skip, the impact on honest validators, and the actual benefits of its work persist as the community moves towards voting on its implementation.
The discussion revolves around the proposed social mitigation strategy for Miner Extractable Value (MEV) on the dYdX v4 platform. The strategy includes the formation of a MEV Slashing Committee, which would monitor and analyze on-chain behavior for MEV activities using Skip's dashboard. The committee would consist of 7 members with a 6-month term and a budget of $84,000. Their responsibilities encompass reviewing MEV activity, recommending community actions, and creating a standardized framework for retroactive measures. The community would have the final say on any committee recommendations. The committee aims to deter malicious MEV activities and provide a structured response to incidents.
Community reactions are mixed. Some members support the idea of a dedicated committee to tackle MEV issues, citing the need for informed recommendations and accountability. Concerns have been raised about the committee's size, potential conflicts of interest, particularly with Reverie's involvement, and the immediate impact on v4. Questions about the necessity and size of the committee's budget have been brought up, with suggestions that a smaller team or validators could handle the responsibilities. There are also calls for committee members to have "skin in the game" to prevent collusion and bribery. The community is discussing the potential conflicts of interest between trustees and grantees and is awaiting a template for the slashing proposal and a standardized governance process.
Posted a month ago
Last reply 10 hours ago
Summary updated an hour ago
Last updated 04/12 00:20