Maximal Extractable Value (MEV) has emerged as a new frontier in the design of blockchain systems. In this paper, we propose making the MEV extraction rate as part of the protocol design space. Our aim is to leverage this parameter to maintain a healthy balance between block producers (who need to be compensated) and users (who need to feel encouraged to transact). We follow the approach introduced by EIP-1559 and design a similar mechanism to dynamically update the MEV extraction rate with the goal of stabilizing it at a target value. We study the properties of this dynamic mechanism and show that, while convergence to the target can be guaranteed for certain parameters, instability, and even chaos, can occur in other cases. Despite these complexities, under general conditions, the system concentrates in a neighborhood of the target equilibrium implying high long-term performance. Our work establishes, the first to our knowledge, dynamic framework for the integral problem of MEV sharing between extractors and users.

翻译：最大可提取价值（MEV）已成为区块链系统设计的新前沿。本文提出将 MEV 提取率作为协议设计空间的一部分。我们的目标是利用这一参数来维持区块生产者（需要获得补偿）与用户（需要获得交易激励）之间的健康平衡。我们遵循 EIP-1559 引入的方法，设计了一种类似的机制来动态更新 MEV 提取率，旨在将其稳定在目标值附近。我们研究了该动态机制的特性，结果表明：虽然对于特定参数可以保证收敛至目标值，但在其他情况下可能出现不稳定甚至混沌现象。尽管存在这些复杂性，在一般条件下，系统会集中在目标均衡的邻域内，这意味着其长期性能表现良好。据我们所知，我们的工作首次为提取者与用户之间的 MEV 共享这一核心问题建立了动态分析框架。