By Straith Schreder 7.25.2025
gm ily ♡ in this week's update: tldr drops mev research ∞ crypto week delivers regulatory wins ∞ bunni launches new pools with euler ∞ levery receives ufsf subsidy ∞ aegis talks unichain ∞ euclid hits unichain
the mev dark forest: our tldr fellow fei dropped a paper with mentors danning, thomas and mallesh on measuring cex-dex extracted value & searcher profitability, bringing light to the implication of arbitrage that can impact ethereum’s decentralization. key finding: bot profits exist but with alpha decaying after 0.5-2s and cex-dex margins shrinking due to builder competition. check it out here, or catch the presentation at aft 2025.
multichain dex infra is coming: in the latest cohort of the ufsf, levery (a regulatory compliant amm protocol built by uhi1 grads) was selected for an audit subsidy, and runtime verification kicked off their code review. if you’re building on uniswap, this could be you: apply for the next cohort by august 7.
crypto is winning in dc: house passed three major bills including genius stablecoin act (trump signed, first federal crypto law), clarity act with defi protections heading to senate, and anti-cbdc legislation. senator budd's keep your coins act offers stronger self-custody protections, while roman storm's tornado cash trial could set developer liability precedent. read the full debrief by the defi education fund here.
history of ethereum: our friends at kairos research held an event in puebla with uf ambassador, rafael. the event featured presentations on the uniswap protocol’s evolution, the journey of ethereum, and an overview of some of the most important apps in defi today. if you’re in mexico city this summer, check out their upcoming events.
uniswap data deep dive: jackie, our beloved head of data science, joined the indexed podcast with grace from uniswap labs to dive into bunni's liquidity mechanics, unichain's spam mitigation, the evolution of smart wallets, and more. watch the full episode here.
bita, our growth manager, recently spoke with james, ceo & cofounder at renzo, about the dynamo dex, designed to protect against depegs and automate lp management (built through the uf’s hook design lab). watch the full interview.
on the depeg problem with lrts
“if there's a long tail event or there's a market event or anything crazy happens in the crypto space and people want to get the base asset back... there's a time window that's associated with redeeming for that. if a lot of people need to do this all at the same time, it can cause the asset to depeg because if people need to do it now, instead of waiting a time period to get their funds back, they'd rather take a price hit now to get it back.”
on protecting users above all
"our perspective is that we want to provide the best experience for our users. so we never want the asset to be really depegged and have users have to take a loss in these scenarios. we think about how can we protect our users, and make sure that there's liquidity if they need to get out immediately."
on building for extreme scenarios
"during normal operations, maybe a lot of liquidity isn't needed. and maybe trading volumes might not be that high, but in these different scenarios, could we build something that can automatically incentivize lps to provide liquidity to the users who need it?"
unified swapping on testnet: euclid's liquidity consensus layer now connects unichain's apps with 50+ other networks, enabling unified omnichain liquidity without bridging. users can access deeper markets and cross-chain assets instantly: try it out on testnet.
protecting lps intelligently: chase & niko went live with bryan from solo labs to discuss aegis, a self-regulating dynamic fee system that was selected for the hook design lab’s first cohort. it adjusts swap fees per block based on real-time price movement to help protect lps against spikes, mev, and toxic flow while optimizing yield during volatility. to learn more, explore the code. once again, this could be you: apply for the hook design lab’s second cohort here.
unifying liquidity: boundless launched ‘the signal’ on unichain - an open source zk consensus mechanism that unlocks asset flows, trustless settlement, and reduces chain fragmentation. learn more here.
unimon szn is coming: if you missed the szn01 fun, unimon is an nft battle-game that lets you mint mystery nft monsters, and watch them hatch and duel until 32 final winners split the prize pool. we literally can’t wait.
Subscribe to our weekly builder newsletter to get developer updates, open grant opportunities, upcoming events, and more.