This Systematization of Knowledge (SoK) provides a comprehensive historical analysis of Maximal Extractable Value (MEV) in blockchain systems, tracing its conceptual evolution through three distinct eras. We organize the fragmented literature on MEV into a unified chronological framework, beginning with Era~I (August 2014 - August 2020), which introduced Miner Extractable Value from pmcgoohan's seminal Reddit warning through the ``Dark Forest'' recognition, covering Proof-of-Work systems with public mempools and Priority Gas Auctions. Era~II (August 2020 - April 2024) marks the generalization to Maximal Extractable Value, encompassing formal taxonomies, Realized Extractable Value, Proposer-Builder Separation, the Ethereum Merge, MEV-Boost, and the integration of non-atomic and CEX-DEX arbitrage. Era~III (April 2024, present) addresses the frontier of Cross-Chain MEV, beginning with early studies on Layer-2 ecosystems, where value extraction spans multiple blockchains, rollups, bridges, and sequencers. We present a conceptual taxonomy distinguishing potential from realized extractable value, and single-domain from cross-domain phenomena. Our systematization identifies mitigations that emerged in response to each era, highlights measurement challenges, and proposes a research agenda for standardized metrics, detection benchmarks, and cross-chain infrastructure design.
翻译:本知识系统化研究对区块链系统中的最大可提取价值进行了全面的历史分析,通过三个不同时代追溯其概念演进。我们将关于MEV的碎片化文献整合到统一的时序框架中:时代I(2014年8月-2020年8月)始于pmcgoohan在Reddit的开创性警告,历经"黑暗森林"认知阶段,涵盖采用公开内存池和优先燃气拍卖的工作量证明系统,此时概念表现为矿工可提取价值;时代II(2020年8月-2024年4月)标志着向最大可提取价值的泛化,包含形式化分类体系、已实现可提取价值、提议者-构建者分离架构、以太坊合并、MEV-Boost协议,以及非原子交易和中心化-去中心化交易所套利的整合;时代III(2024年4月至今)聚焦跨链MEV前沿,始于对Layer-2生态系统的早期研究,此时价值提取跨越多个区块链、Rollup扩容方案、跨链桥和定序器。我们提出了区分潜在与已实现可提取价值、单域与跨域现象的概念分类体系。本系统化研究识别了各时代衍生的缓解机制,揭示了测量挑战,并为标准化指标、检测基准和跨链基础设施设计提出了研究议程。