Project Name: Aestus MEV Relay
Project Description:
The Aestus Relay is a neutral, non-censoring implementation of MEV-Boost, connecting Ethereum proof-of-stake validators and block builders via an auction. We emerged from conversations in the EthFinance and EthStaker communities, and aim to provide credibly neutral infrastructure for the Ethereum staking ecosystem. The relay has been in continuous operation for nearly 2 years and serves over 850,000 validators, including many solo stakers, Rocketpool users, and large professional staking operations. Between 1-5% of all Ethereum mainnet blocks pass through Aestus.
MEV remains a valuable part of revenue for Ethereum PoS consensus participants, but it is critical to the long-term health of the network that we minimize centralization pressures and ensure MEV profits are equitably distributed amongst all validators. Aestus operates as a public good, free from commercial interests and adhering to principles of credible neutrality.
Aestus was originally imagined to be a short-term enterprise destined only to fill a short-term gap between the Merge and the development of enshrined proposer-builder separation (“ePBS”). This pathway to an in-protocol solution has been significantly more challenging than initially anticipated and remains somewhat elusive. Aestus intends to remain in operation until we outlive our purpose.
Recently, there has been considerable interest and extensive research towards improving Ethereum UI/UX by supporting cross-chain (L2) atomic synchronicity, including instantaneous inclusion and execution guarantees (preconfs), and using L1 validators to secure L2s. This “based” ecosystem entails significant new responsibilities for relays and new ecosystem actors. This will require extensive development and testing.
Public Repository:
Budget Breakdown
-
Infrastructure Costs: $8-10k USD/month
- Expected Outcome: Maintain the core relay infrastructure which includes mainnet and testnet clusters, validation nodes, databases, and networking equipment.
-
Human Resources: $12-15k USD/month
- Expected Outcome: Support continuous improvement of our infrastructure with specific expertise in hardware, cloud computing, SRE, general DevOps, and Golang.
-
Development Goals: $12-15k USD/month
- Expected Outcome: Further development of our relay codebase (Rust), including improvements to auction speed and supporting data collection for research. Implementation of based sequencing and pre-confirmation roadmap.
Funding Requested: It would be wonderful if we could use Octant to help us fund 1-2 people to work on our development goals as outlined above.
Plans should you fall below, reach, or exceed funding goals:
- Below: Prioritize current human resource costs and improving the reliability and performance of our core relay services.
- Meet: Focus on current development goals on the pre-confirmation/based sequencing roadmap.
- Exceed: Consider further enhancing our team with additional efforts focused on research contributions.
Inputs > Activities > Outputs > Outcomes > Long-Term Impact
Short-term Outcomes (0-3 months):
- Reliability: As we adopt a new relay codebase, there will be significant DevOps and engineering work to maintain consistent uptime and reliability.
- Innovation: Continue to coordinate with other teams on the based sequencing roadmap. This requires the implementation of new APIs. The early phases of this include a focus on inclusion pre-confirmations.
Mid-term Outcomes (3-6+ months):
- Innovation: Continue to implement and test based sequencing concepts. This may include execution pre-confirmations and partial block auctions.
Outcomes Measurement:
- Validators: Monitor and report on validator registrations, aiming to increase our share of the total validator market.
- Block Throughput: Track the percentage of winning and non-winning bids on the mainnet that are processed through Aestus.
- Operational Metrics: Measure infrastructure uptime, response times, and system stability to ensure ongoing reliability.
Interim Reporting
Regular Updates:
- Frequency: We will provide quarterly progress reports to Octant stakeholders and wider community members detailing operational status, development progress, and any challenges encountered.
Milestone Verification:
- Transparency: Deliver reports on milestone achievements and relay metrics.
Sustainability Plan
- Funding Strategy: Continue to secure grant funding from the PGF ecosystem. We’re focusing on sustaining core operations and supporting future R&D.
- Revenue Model: Later revenue streams may emerge in the based sequencing ecosystem.
- Community Engagement: Maintain an open presence on social media, contributing to the broader Ethereum community.
Case Studies and Testimonials
Showcasing Success:
Advancing Values of Freedom and Privacy & Supporting Decentralization
Aestus advances values of freedom and privacy by ensuring that its infrastructure remains credibly neutral and openly accessible.
- Censorship resistant: No transactions are censored or filtered.
- Non-judgmental: No specific MEV searcher strategies are promoted or excluded.
- Unbiased: No exclusive relationships are made with builders and searchers.
- Open source: We publish our config and code on GitHub.
Team Information
- Max Wilde: Medical Doctor and Public Health Technology Consultant.
- Auston St: Computer Scientist and mountaineer.
Social Proof
- We’re well-known members of the ETH Staker, Rocketpool, and ETH Finance communities.
- More than 80% of all validators registered with the Aestus relay.
- Regular attendance at PBS/MEV-Boost calls.
Transparency
- All funds received are transparently managed and reported, with spending focused on infrastructure, development, and HR costs.
- Any funding from Octant will be primarily allocated to advancing the relay’s capabilities, with detailed reports provided to ensure accountability.
Other Funding
- Grants Received:
- $50k USD from PBS Foundation (2024)
- 100k $OP from RPGF Round 4 (2023)