Final Dev Update

Hi folks, I'll be writing my final dev updates in this document! I have enjoyed EPF thoroughly! It was filled with a lot of learning and meeting new people!

TLDR

I began working on the project related to decoupling blobs from payloads with the Prysm team. On further discussions with them, we realised that this problem didn't exist anymore since the protocol expected KZG commitments of a blob tx to be computed out of protocol before being sent to the Ethereum protocol.

I reached out to Barnabe Monnot from RIGS at EF and started to work on PEPC-Boost. As part of EPF, I designed PEPC-Boost, implemented it, documented it and deployed it to Goerli successfully.

Project Abstract

I worked on PEPC-Boost as part of EPF. A basic spec of PEPC-Boost, as proposed by Barnabe Monnot, can be found in the PEPC FAQ doc.

Integrated searcher-builders like HFT firms have superior capabilities to extract high-value top-of-block MEV opportunities like CEX-DEX arbitrages compared to smaller builders. Current PBS auctions, done through MEV relays, only auction off the entire block, which means that builders capable of extracting high-value top-of-block opportunities can easily outbid the rest of the other builders by winning the whole block auction, increasing the centralisation and reducing the builder market's competitiveness.

This article takes inspiration from PEPC, a proposed in-protocol mechanism for more general block allocation mechanisms, to propose a new relay design called PEPC-Boost. PEPC-Boost holds separate auctions for the top-of-block and rest-of-block. PEPC-Boost relay allows searchers to bid separately to include their CEX-DEX arbitrage transactions on the top-of-block, and it allows builders to submit blocks that will get included in the rest-of-block. By selling the top-of-block and rest-of-block separately, PEPC-Boost aims to reduce the competitive advantage of integrated searcher-builders, which will help increase competitiveness and reduce centralisation in the builder market.

You can find my project proposal here.

Project Status

The initial design of PEPC-Boost went through two iterations. The initial PEPC-Boost design was more complex and had some incorrect assumptions. I re-worked the PEPC-Boost design to a new design where I had corrected my assumptions and made the design much more straightforward.

https://github.com/bharath-123/pepc-boost-docs contains all documentation related to PEPC-Boost.

https://github.com/bharath-123/pepc-boost-relay contains the implementation of PEPC-Boost, and https://github.com/bharath-123/pepc-boost-builder includes the implementations of the RPCs for block assembly and ToB validation.

PEPC-Boost has been tested on a Kurtosis local devnet.

I have also deployed PEPC-Boost successfully to Goerli. PEPC-Boost on Goerli is hosted on AWS.

https://website.pepc-booost.com/ hosts the PEPC-Boost website.

https://api.pepc-booost.com/ hosts the PEPC-Boost api.

Below are some of the blocks proposed by PEPC-Boost on Goerli:
https://prater.beaconcha.in/slot/6870895
https://prater.beaconcha.in/slot/6870142
https://prater.beaconcha.in/slot/6869956
https://prater.beaconcha.in/slot/6870464
https://prater.beaconcha.in/slot/6869909

I will take my Goerli setup down after EPF because it burns a decent hole in the pocket!

With the above, I could successfully achieve what I had set out to do in project requirements and publish some articles to Twitter and hackmd! Below are links to the articles I wrote:

PEPC-Boost-V0: https://hackmd.io/@bchain/Sy5qtmRf6
Payouts in Parallel block auctions: https://hackmd.io/@bchain/Sy5qtmRf6
Thoughts on PEPC-Boost as a product: https://hackmd.io/@bchain/rk8sepAG6
Thoughts on Eth Censorship Resistance: https://hackmd.io/@bchain/B1-3hBojh

I also published a couple of Tweets on PEPC-Boost:

1. https://twitter.com/BharathVedarth1/status/1712156150102446356 This tweet describes PEPC-Boost
2. https://twitter.com/BharathVedarth1/status/1717252057160175667 This tweet describes the blocks proposed by PEPC-Boost

Future Steps

As we move ahead with PEPC-Boost, below are some of the things we are looking at a more technical level:

1. To explore payouts in the case of parallel block auctions. I am currently working with Barnabe on exploring ways w.r.t payouts in parallel block auctions here.
2. To allow searchers to cancel the ToB bundles they have sent.
3. To explore block cancellation by builders. Since two different actors are building a block, we need to research how complete block cancellations would work for the searcher and builder.
4. To explore methods to reduce the latency of PEPC-Boost to make it more competitive with existing relays.
5. To explore how PEPC-Boost can fit into the larger Ethereum ecosystem. I have written an article on it here.

Please find a complete list of items we are currently working on in PEPC-Boost here: https://github.com/bharath-123/pepc-boost-relay/issues

Self Evaluation

I will list down what went well and what didn't go well during my EPF journey.

What went well:

1. I was able to complete the project that I had set out to do before time. This is also considering the initial setback where the first project I wanted to work on with the Prysm team was not working out.
2. My mentors were happy with my work at the end.
3. Apart from coding, I also wrote some articles, which helped me improve my writing skills.
4. I connected with many interesting people in the crypto industry.

What didn't go well:

1. I needed to spend more time exploring all the proposed projects. I was stuck on the first exciting project that caught my eye, which could have worked better for me.
2. I initially didn't write the most reviewable code. I had to spend much time refactoring my code and PRs for reviewability.
3. There were days I could have been more efficient in planning my work.

EPF Experience

EPF was a great experience. I wanted to work on an Ethereum R&D project, and PEPC-Boost was a project that I thoroughly enjoyed working on as it involved both research and engineering. Barnabe, Mike and Terrance were terrific mentors. All of them were very supportive and helpful during my time at EPF. I also enjoyed interacting with my fellow fellows!
I look forward to EPF day at Devconnect, which will be the perfect icing!