In this episode of Deeply Intents, I have a conversation with 0xprincess, founder of NuConstruct. We begin by diving into 0xprincess' journey through the world of arbitrage and the notorious dark forest, examining how MEV competition on Ethereum has evolved into today's competitive landscape. For the centerpiece of our discussion, 0xprincess breaks down TOOL (Trustless Orderflow Operations Layer), which effectively transforms Ethereum into a one second blocktime chain without requiring protocol modifications. After the TOOL deep dive, we examine ePBS (enshrined Proposer-Builder Separation), which leads to a thoughtful discussion on the EIP process itself, what works and how to improve it. Following this, we discuss the unique attributes that make Ethereum special, particularly its credibility. We close the episode with reflections on pseudoanon culture in crypto.
In this episode of Deeply Intents, I have a conversation with 0xprincess, founder of NuConstruct. We begin by diving into 0xprincess' journey through the world of arbitrage and the notorious dark forest, examining how MEV competition on Ethereum has evolved into today's competitive landscape. For the centerpiece of our discussion, 0xprincess breaks down TOOL (Trustless Orderflow Operations Layer), which effectively transforms Ethereum into a one second blocktime chain without requiring protocol modifications. After the TOOL deep dive, we examine ePBS (enshrined Proposer-Builder Separation), which leads to a thoughtful discussion on the EIP process itself, what works and how to improve it. Following this, we discuss the unique attributes that make Ethereum special, particularly its credibility. We close the episode with reflections on pseudoanon culture in crypto.
Timestamps
(00:00) - Nuconstruct origins
(03:14) - DEX to DEX arbitrage
(04:15) - Into the dark forest
(08:30) - MEV competition today
(13:28) - Liquidity network effects
(19:42) - Trustless Orderflow Operations Layer (TOOL)
(23:06) - Leader based consensus
(29:06) - Open auction for orderflow
(30:55) - Early confirmations and 1s bock times
(36:00) - Trust Domain Extensions (TDX)
(43:09) - Validator adoption of TOOL
(47:30) - Fundraising
(53:08) - Product mindset
(57:28) - EIP-7732: ePBS
(1:03:58) - Improving the EIP process
(1:07:08) - Product discovery
(1:16:34) - EIP Process is well polished
(1:18:03) - Ethereum ossification risks
(1:22:50) - Ethereum has credibility
(1:29:24) - Price is not correlated with tech
(1:33:00) - Anon and pseudo-anon culture
(1:40:34) - The TOOL is live! (testnet)