Introducing taiko.preconf.eth

💬 General
1

Hey everyone,

As Primev, we’re developing mev-commit, a credible commitment network designed for commitment games between bidders and execution service providers, such as block builders, sequencers, and more. We’ve been using it for preconfirmations on Ethereum. Mev-commit bids can specify execution requirements in detail and actors such as L1 block builders or L2 sequencers may provide credible commitments that promise to fulfill bid requirements. These commitments are backed by a provider stake, which can be slashed if a commitment is not fulfilled.

The below steps show how the current configuration works:

  1. The user sends a transaction to Taiko Node.
  2. A preconfirmation bidder bot reads the mempool and creates a bid based on the transaction to the mev-commit Taiko provider via mev-commit.
  3. The mev-commit Taiko provider issues a commitment and passes this information to the Taiko node.
  4. Mev-commit logic inside the Taiko node validates the operation and sends it to L1.

Primev submitted a Taiko grant proposal in March ‘24 to subsidize Taiko users’ preconfirmation bids, and we’re happy to report that we’ve gone ahead with a full integration implementation with Taiko nodes we are open sourcing here under taiko.preconf.eth.

Our next steps are to:

  1. Have the Taiko node operator receive an L1 preconfirmation for the Taiko block, and display it to the Taiko user.
  2. Leverage mev-commit’s encrypted mempool to enhance transaction privacy and complete end-to-end integration.
  3. Test and collect system data.
  4. Present instructions to the Taiko community on how to use preconfirmations.
  5. Once the community is familiar with the setup, discuss mainnet availability.
  6. Come up with mainnet co-incentive program to enable the Taiko community to be active in mev-commit governance and for mev-commit ecosystem to benefit Taiko.

Mev-commit is live on the Holesky testnet serving L1 preconfirmations to users, with ~11,000 validators already opted-in to the network. This means that mev-commit helps users attain guarantees that Taiko users’ transactions will be preconfirmed and seamlessly be included on L1.

For those who are interested in preconfs on Ethereum and beyond, please reach out to us through our contact form. We’re very excited about bringing preconfirmations to the Taiko community and more and would love to hear any thoughts or feedback you have.

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Stay Based,
Primev

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