ABCDE: Why we invest in aPriori

Original author: Joy Song, ABCDE

aPriori is a MEV liquidity staking platform on Monad. Its innovative probability check design greatly reduces latency and maximizes the high performance of Monad. Its team members come from the high-frequency trading field and have experience in top companies such as Jump Crypto, Flow Traders and Coinbase. With the team’s background in top high-frequency trading firms and crypto institutions, aPriori’s MEV-built infrastructure will unlock the potential of Monads to support large-scale applications on high-performance public chains.

Dark Forest

Imagine you are waiting for a plane in economy class. Normally, boarding is in order. However, if a rich man is willing to pay extra for an upgrade in advance, the flight attendants will immediately prioritize him for boarding. In the blockchain, miners or validators are similar to this flight attendant, inserting, reordering or deleting transactions by adjusting the order of block production to obtain additional benefits. We usually call this action MEV (Maximal Extractable Value), which is the maximum extractable value.

You may ask, does this seemingly "malicious" behavior need to be completely eliminated in the blockchain? In a highly confrontational environment like a dark forest like blockchain, it is impossible to completely "solve" or "eliminate" MEV. On the contrary, MEV is the most basic attribute in the blockchain and is closely related to the underlying design and consensus mechanism of the blockchain. MEV can reversely map whether the block rewards, gas fees, bridge fees and other mechanisms in the blockchain are reasonably designed.

We believe that an effective MEVA will promote the development of an ecosystem in a healthier direction. And aPriori is building a powerful Miner Extractable Value Auction infrastructure (MEVA) on Monad.

Unique features of MEVA on Monad and other ecosystems

The emergence of high-performance, parallel Ethereum virtual machines (such as Monad) has brought new design opportunities to node-level infrastructure. Drawing on the experience of Jito on Ethereum Flashbots and Solana, the aPriori team plans to design a new architecture to maximize the performance of the Monad network and improve the user experience. The architecture will focus on reducing gas fees, optimizing network traffic, and driving sustainable incentives for validators.

In order to understand its design principles more deeply, we need to first explore the underlying architecture design of Monad. We will not discuss the PBS (Proposer-Builder Separation) architecture on Ethereum in detail here. For specific content, please refer to this link.

Delayed execution of Monad and its impact on MEVA

No guarantee that relays or builders can receive the "latest state" & extremely short MEV processing window

Source: aPriori

Unlike Ethereum, block consensus needs to be reached through a transaction list (with sorting) and the Merkle root of all transaction result states. Monad decouples execution from consensus, and the node protocol only needs to solve the transaction ordering problem. Delayed execution means that the execution of a transaction can occur some time after it has been included in the consensus process. This gives validators more flexibility as they can execute transactions at a more appropriate time, rather than immediately upon consensus.

This means that under this delayed execution architecture, the relay or builder cannot guarantee to have the "latest state". Therefore, it is impossible to simulate against the latest block until the next block is generated, which leads to a certain uncertainty. Moreover, Monad provides a block time of 1 second and finality of 1 second, which makes MEVA’s operation time window extremely limited. At the same time, because searchers lack theoretical guarantees for transaction rollback, once the validator accepts the block built by the builder, the searcher will face greater execution uncertainty.

aPriori’s innovative solution

aPriori proposes a new MEVA design paradigm: probabilistic valuation. The scheme uses partial block auctions, allowing builders to build the top of a block from a bundle submitted by seekers, while validators append the remaining transactions from a public mempool. This method greatly reduces latency and maximizes Monad performance.

Sumber: aPrioriMEVA

Pada masa yang sama, aPriori juga bekerjasama rapat dengan oracles, membolehkan mereka membuat suapan harga oracle dengan cepat, yang penting kepada ekosistem Monad Defi. Produk pertaruhan cairnya menyediakan lebih banyak fleksibiliti dan praktikal kepada staker, membolehkan pengguna memperoleh MEV dan ganjaran mempertaruhkan sambil mengekalkan kecairan aset yang dipegang mereka. Langkah-langkah ini boleh memaksimumkan prestasi rangkaian Monad dan meningkatkan pengalaman penggunanya.

Selain itu, kami percaya bahawa dengan resume pasukan aPriori dan pengetahuan mendalam mereka tentang trek MEV, Monad akan menjadi calon yang paling sesuai untuk generasi baharu rangkaian awam berkelajuan tinggi MEV Infra. Pasukan

aPriori

Ray(CEO), mempunyai pengalaman sebagai peniaga frekuensi tinggi di Jump Crypto dan Flow Traders. Semasa penyumbang di Pyth Network, Ray memperoleh pengalaman pertumbuhan yang meluas, membantu meningkatkan protokol kepada 30 rangkaian yang menyediakan lebih daripada 150 dApps. Olivia (CTO), bekas jurutera perisian kanan di Coinbase, mereka bentuk dan membina saluran paip pengesanan teragih dalaman yang mengendalikan trafik sebanyak 1 juta jejak sesaat. Beliau mempunyai kepakaran yang kukuh dalam infrastruktur dan sistem ketersediaan tinggi.

Tamat

Apabila kita memasuki era blockchain TPS yang tinggi, terutamanya apabila semakin ramai pengguna memasuki bidang web3 dan projek menjadi semakin kompleks, reka bentuk infrastruktur MEV adalah penting untuk pembangunan sihat mana-mana rangkaian penting. Kami percaya aPriori boleh membantu Monad menjangkau lebih ramai pengguna dan meningkatkan pengalaman pengguna.

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