DEX MEV in Closed Form (Sandwich Attacks)

​Dr. Mark Richardson, Project Lead at Bancor, provides an analytical and algebraic examination of Decentralized Exchange (DEX) Maximal Extracted Value (MEV), focusing specifically on the sandwich attack mechanism. Mark derives the closed-form solution for computing the optimal, profit-maximizing sandwich attack in the prototypical x*y=k AMM.

​The variables, constraints, and the objective function that an MEV searcher must solve when exploiting a pending DEX trade by a naive user are explicitly defined and elaborated. Specifically, the talk provides the details for calculating exact, optimal front-run and back-run trade sizes, illustrated by numeric examples.

​This rigorous, quantitative work is essential for designing and evaluating future mechanisms aimed at mitigating or redistributing MEV in blockchain economies.

​The seminar is aimed at researchers and practitioners interested in mechanism design, applied cryptography, market engineering, DeFi, AMMs, and applied cryptoeconomics.

​WU Wien (Room TBA – ExAC or D2)

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​For those continuing to Prague:

​🇨🇿 At the Ethereum Research Symposium (EthReS 2026), affiliated with ETHPrague, Dr. Mark Richardson will present “An Arbitrary Mean-Rate Exchange Protocol”
📍 ETHPrague main venue
🗓 Saturday, May 9
🕚 11:00 AM - 12:00 PM GMT+2

​🔗 Register: https://luma.com/o7tthdzr