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Analysis and Investigation of Miner Extractable Value in Constant Product Market Makers with Random Ordering
, M.Sc. Thesis Sharif University of Technology ; Maddah Ali, Mohammad Ali (Supervisor) ; Tefagh, Mojtaba (Supervisor)
Abstract
Blockchain technology presents a decentralized management structure designed to cater to various needs, such as decentralization and the elimination of single points of failure. With the evolution of blockchain technology, smart contracts have emerged as a remarkable platform for facilitating financial activities in a decentralized manner. Among the different types of smart contracts, decentralized exchanges stand out by their absence of a central authority overseeing user transactions. This lack of a central oversight exposes users of such exchanges to potential attacks from malicious entities. A key challenge faced by these exchanges is the concept of Miner Extractable Value. Miner...