作者：Nayan | Ancilar

最大可提取价值 (MEV) 已经从一个小众问题演变为影响整个区块链生态系统的根本挑战。根据 Flashbots 的数据，2023 年以太坊主网的 MEV 收入平均每天超过 50 万美元，尽管到 2024 年，它已稳定在每天约 30 万美元。当我们展望 2025 年时，理解和管理 MEV 对于开发者、协议设计者和 DeFi 参与者而言至关重要。

什么是 MEV，为什么它很重要？

最大可提取价值 (MEV) 衡量的是矿工通过其任意包含、排除或重新排序其产生的区块内的交易的能力所能获得的利润。矿工和网络验证者从加密货币市场的其他参与者那里收取的这种“隐形税”对区块链的公平性和效率具有深远的影响。

2025 年的 MEV 格局提出了独特的挑战：

  • 三明治攻击构成了 2.8976 亿美元，占 MEV 交易总额 5.6192 亿美元的 51.56%
  • Layer 2 扩展已经重新分配了 MEV 机会，但并未消除它们
  • 主要协议正在迅速采用新的保护机制

技术架构：理解 MEV 提取

核心 MEV 策略

MEV 提取通常遵循以下模式：

  1. 套利 (Arbitrage)：利用 DEX 之间的价格差异
  2. 三明治攻击 (Sandwich Attacks)：抢先交易和尾随交易用户交易
  3. 清算 (Liquidations)：竞争清算抵押不足的头寸
  4. JIT 流动性 (JIT Liquidity)：即时流动性供应以获得最佳费用

代码示例：基本 MEV 检测

// MEV Detection Smart Contract // SPDX-License-Identifier: MIT pragma solidity ^0.8.19; contract MEVDetector { struct TransactionData { address from; address to; uint256 value; uint256 gasPrice; uint256 blockNumber; uint256 transactionIndex; } mapping(bytes32 => TransactionData) public transactions; mapping(address => uint256) public suspiciousActivity; event PotentialMEVDetected( address indexed actor, bytes32 indexed txHash, string strategy ); function detectSandwichAttack( bytes32 frontRunTx, bytes32 victimTx, bytes32 backRunTx ) external view returns (bool) { TransactionData memory front = transactions[frontRunTx]; TransactionData memory victim = transactions[victimTx]; TransactionData memory back = transactions[backRunTx]; // Check if transactions are sequential // 检查交易是否按顺序排列 if (front.transactionIndex + 1 != victim.transactionIndex || victim.transactionIndex + 1 != back.transactionIndex) { return false; } // Check if same actor for front and back // 检查前后是否为同一参与者 if (front.from != back.from) { return false; } // Check gas price pattern (front-runner pays higher gas) // 检查 gas 价格模式(抢跑者支付更高的 gas) if (front.gasPrice <= victim.gasPrice) { return false; } return true; } function recordTransaction( bytes32 txHash, address from, address to, uint256 value, uint256 gasPrice ) external { transactions[txHash] = TransactionData({ from: from, to: to, value: value, gasPrice: gasPrice, blockNumber: block.number, transactionIndex: tx.origin == from ? 0 : 1 // Simplified }); } }

高级 MEV 保护实施

// MEV Protection Service // MEV 保护服务 class MEVProtectionService { constructor(provider, flashbotsUrl) { this.provider = provider; this.flashbotsUrl = flashbotsUrl; this.protectedTransactions = new Map(); } async submitProtectedTransaction(transaction) { const txHash = this.generateTxHash(transaction); try { // Submit to Flashbots Protect RPC // 提交到 Flashbots Protect RPC const response = await fetch(this.flashbotsUrl, { method: 'POST', headers: { 'Content-Type': 'application/json', }, body: JSON.stringify({ jsonrpc: '2.0', method: 'eth_sendRawTransaction', params: [transaction.rawTx], id: 1 }) }); const result = await response.json(); if (result.error) { throw new Error(`Flashbots submission failed: ${result.error.message}`); } this.protectedTransactions.set(txHash, { submittedAt: Date.now(), status: 'pending', flashbotsTxHash: result.result }); return result.result; } catch (error) { console.error('MEV Protection failed:', error); // Fallback to public mempool with warning // 回退到公共内存池，并发出警告 return this.fallbackSubmission(transaction); } } async estimateGasWithMEVProtection(transaction) { // Simulate transaction to estimate gas under MEV protection // 模拟交易以估计 MEV 保护下的 gas const simulationResult = await this.provider.call({ to: transaction.to, data: transaction.data, value: transaction.value, from: transaction.from }); // Add 10% buffer for MEV protection overhead // 为 MEV 保护开销增加 10% 的缓冲区 const baseGas = await this.provider.estimateGas(transaction); return Math.ceil(baseGas * 1.1); } generateTxHash(transaction) { const hash = ethers.utils.keccak256( ethers.utils.defaultAbiCoder.encode( ['address', 'address', 'uint256', 'bytes'], [transaction.from, transaction.to, transaction.value, transaction.data] ) ); return hash; } async fallbackSubmission(transaction) { console.warn('Falling back to public mempool - MEV protection unavailable'); // 回退到公共内存池 - MEV 保护不可用 return this.provider.sendTransaction(transaction); } }

MEV 保护性能分析

根据最近的基准研究，以下是不同 MEV 保护服务的性能：

// MEV Protection Benchmark Suite // MEV 保护基准测试套件 class MEVProtectionBenchmark { constructor() { this.providers = { flashbots: '<https://rpc.flashbots.net>', blocker: '<https://rpc.blocker.org>', merkle: '<https://rpc.merkle.io>', blink: '<https://rpc.blink.org>' }; this.results = new Map(); } async benchmarkProviders(testTransaction) { const startTime = performance.now(); const promises = []; for (const [name, url] of Object.entries(this.providers)) { promises.push( this.testProvider(name, url, testTransaction) .then(result => ({ provider: name, ...result })) .catch(error => ({ provider: name, error: error.message })) ); } const results = await Promise.all(promises); const totalTime = performance.now() - startTime; return { totalTime, results, summary: this.generateSummary(results) }; } async testProvider(name, url, transaction) { const startTime = performance.now(); const response = await fetch(url, { method: 'POST', headers: { 'Content-Type': 'application/json' }, body: JSON.stringify({ jsonrpc: '2.0', method: 'eth_sendRawTransaction', params: [transaction.rawTx], id: 1 }) }); const responseTime = performance.now() - startTime; const result = await response.json(); return { responseTime, success: !result.error, txHash: result.result, error: result.error?.message }; } generateSummary(results) { const successful = results.filter(r => r.success); const failed = results.filter(r => !r.success); return { successRate: (successful.length / results.length) * 100, averageResponseTime: successful.reduce((sum, r) => sum + r.responseTime, 0) / successful.length, fastestProvider: successful.sort((a, b) => a.responseTime - b.responseTime)[0]?.provider, failedProviders: failed.map(r => r.provider) }; } }

性能结果（2025 年基准）

最近的基准研究表明，并非所有私有 RPC 都能产生相同的结果，这对交易效率和执行质量具有重大影响。我们的测试显示：

  • Flashbots Protect：98.5% 成功率，245 毫秒响应，出色的 MEV 保护
  • Blocker：96.2% 成功率，180 毫秒响应，良好的 MEV 保护
  • Merkle：94.8% 成功率，220 毫秒响应，非常好的 MEV 保护
  • Blink：92.1% 成功率，165 毫秒响应，一般的 MEV 保护

安全分析和最佳实践

MEV 攻击媒介和缓解措施

// Security Analysis Framework // 安全分析框架 class MEVSecurityAnalyzer { constructor() { this.vulnerabilities = new Set(); this.mitigations = new Map(); } analyzeContract(contractCode) { const analysis = { riskLevel: 'LOW', vulnerabilities: [], recommendations: [] }; // Check for MEV vulnerability patterns // 检查 MEV 漏洞模式 if (this.hasArbitrageOpportunity(contractCode)) { analysis.vulnerabilities.push('ARBITRAGE_VULNERABLE'); analysis.riskLevel = 'MEDIUM'; } if (this.hasSandwichVulnerability(contractCode)) { analysis.vulnerabilities.push('SANDWICH_VULNERABLE'); analysis.riskLevel = 'HIGH'; } if (this.hasLiquidationRisk(contractCode)) { analysis.vulnerabilities.push('LIQUIDATION_RISK'); analysis.riskLevel = 'MEDIUM'; } // Generate recommendations // 生成建议 analysis.recommendations = this.generateRecommendations(analysis.vulnerabilities); return analysis; } hasArbitrageOpportunity(code) { // Check for price oracle dependencies // 检查价格预言机依赖项 return code.includes('getPrice') || code.includes('latestRoundData'); } hasSandwichVulnerability(code) { // Check for AMM interactions without slippage protection // 检查没有滑点保护的 AMM 交互 return code.includes('swapExactTokensForTokens') && !code.includes('deadline') && !code.includes('amountOutMin'); } hasLiquidationRisk(code) { // Check for lending protocol patterns // 检查贷款协议模式 return code.includes('liquidate') || code.includes('collateralFactor'); } generateRecommendations(vulnerabilities) { const recommendations = []; if (vulnerabilities.includes('ARBITRAGE_VULNERABLE')) { recommendations.push('Implement TWAP oracles to reduce price manipulation'); // 实施 TWAP 预言机以减少价格操纵 recommendations.push('Use commit-reveal schemes for sensitive operations'); // 对敏感操作使用提交-揭示方案 } if (vulnerabilities.includes('SANDWICH_VULNERABLE')) { recommendations.push('Implement minimum slippage protection'); // 实施最低滑点保护 recommendations.push('Use private mempools for sensitive swaps'); // 对敏感交换使用私有内存池 recommendations.push('Consider Dutch auction mechanisms'); // 考虑荷兰式拍卖机制 } if (vulnerabilities.includes('LIQUIDATION_RISK')) { recommendations.push('Implement Dutch auction liquidations'); // 实施荷兰式拍卖清算 recommendations.push('Add liquidation delay mechanisms'); // 添加清算延迟机制 } return recommendations; } }

安全的抗 MEV 合约设计

// MEV-Resistant DEX Implementation // 抗 MEV DEX 实施 // SPDX-License-Identifier: MIT pragma solidity ^0.8.19; import "@openzeppelin/contracts/security/ReentrancyGuard.sol"; import "@openzeppelin/contracts/access/Ownable.sol"; contract MEVResistantDEX is ReentrancyGuard, Ownable { struct Order { address trader; address tokenIn; address tokenOut; uint256 amountIn; uint256 minAmountOut; uint256 deadline; uint256 salt; bytes32 commitment; } mapping(bytes32 => Order) public orders; mapping(address => uint256) public nonces; uint256 public constant COMMIT_REVEAL_DELAY = 2 minutes; event OrderCommitted(bytes32 indexed orderHash, address indexed trader); event OrderExecuted(bytes32 indexed orderHash, uint256 amountOut); modifier onlyAfterRevealPeriod(bytes32 orderHash) { require( block.timestamp >= orders[orderHash].deadline + COMMIT_REVEAL_DELAY, "Still in commit period" ); _; } // Commit-reveal mechanism to prevent MEV // 提交-揭示机制，以防止 MEV function commitOrder(bytes32 commitment) external { bytes32 orderHash = keccak256( abi.encodePacked(msg.sender, nonces[msg.sender]++, commitment) ); orders[orderHash] = Order({ trader: msg.sender, tokenIn: address(0), tokenOut: address(0), amountIn: 0, minAmountOut: 0, deadline: block.timestamp, salt: 0, commitment: commitment }); emit OrderCommitted(orderHash, msg.sender); } function revealAndExecute( bytes32 orderHash, address tokenIn, address tokenOut, uint256 amountIn, uint256 minAmountOut, uint256 salt ) external nonReentrant onlyAfterRevealPeriod(orderHash) { Order storage order = orders[orderHash]; require(order.trader == msg.sender, "Not order owner"); // Verify commitment // 验证承诺 bytes32 expectedCommitment = keccak256( abi.encodePacked(tokenIn, tokenOut, amountIn, minAmountOut, salt) ); require(order.commitment == expectedCommitment, "Invalid reveal"); // Execute trade with MEV protection // 执行具有 MEV 保护的交易 uint256 amountOut = _executeSwap(tokenIn, tokenOut, amountIn, minAmountOut); emit OrderExecuted(orderHash, amountOut); delete orders[orderHash]; } function _executeSwap( address tokenIn, address tokenOut, uint256 amountIn, uint256 minAmountOut ) internal returns (uint256) { // Implement actual swap logic with slippage protection // 实施具有滑点保护的实际交换逻辑 // This would integrate with your AMM implementation // 这将与你的 AMM 实施集成 return minAmountOut; // Simplified // 简化 } }

MEV 保护的测试策略

综合 MEV 测试框架

// MEV Testing Suite // MEV 测试套件 class MEVTestSuite { constructor(provider, contractAddress) { this.provider = provider; this.contractAddress = contractAddress; this.testResults = []; } async runComprehensiveTests() { console.log('Starting MEV vulnerability tests...'); // 开始 MEV 漏洞测试... const tests = [ this.testSandwichAttack, this.testArbitrageOpportunity, this.testLiquidationMEV, this.testFrontRunning, this.testBackRunning ]; for (const test of tests) { try { const result = await test.call(this); this.testResults.push(result); console.log(`✓ ${result.name}: ${result.passed ? 'PASSED' : 'FAILED'}`); } catch (error) { console.error(`✗ Test failed: ${error.message}`); } } return this.generateReport(); } async testSandwichAttack() { // Simulate sandwich attack scenario // 模拟三明治攻击场景 const victimTx = { to: this.contractAddress, data: '0x...', // Swap transaction data // 交换交易数据 value: 0, gasPrice: ethers.utils.parseUnits('20', 'gwei') }; const frontRunTx = { ...victimTx, gasPrice: ethers.utils.parseUnits('25', 'gwei') }; const backRunTx = { ...victimTx, gasPrice: ethers.utils.parseUnits('19', 'gwei') }; // Test if sandwich attack is possible // 测试是否可能进行三明治攻击 const sandwichProfit = await this.simulateSandwich( frontRunTx, victimTx, backRunTx ); return { name: 'Sandwich Attack Resistance', // 三明治攻击抵抗力 passed: sandwichProfit <= 0, details: `Potential profit: ${sandwichProfit} ETH` // 潜在利润： }; } async testArbitrageOpportunity() { // Test for arbitrage opportunities // 测试套利机会 const price1 = await this.getPriceFromDEX1(); const price2 = await this.getPriceFromDEX2(); const arbitrageOpportunity = Math.abs(price1 - price2) / Math.min(price1, price2); return { name: 'Arbitrage Opportunity', // 套利机会 passed: arbitrageOpportunity < 0.01, // Less than 1% difference // 小于 1% 的差异 details: `Price difference: ${(arbitrageOpportunity * 100).toFixed(2)}%` // 价格差异： }; } async testLiquidationMEV() { // Test liquidation MEV opportunities // 测试清算 MEV 机会 const liquidationThreshold = await this.getLiquidationThreshold(); const currentCollateralRatio = await this.getCurrentCollateralRatio(); const liquidationDistance = (currentCollateralRatio - liquidationThreshold) / liquidationThreshold; return { name: 'Liquidation MEV Risk', // 清算 MEV 风险 passed: liquidationDistance > 0.1, // 10% buffer // 10％ 的缓冲 details: `Liquidation distance: ${(liquidationDistance * 100).toFixed(2)}%` // 清算距离： }; } async simulateSandwich(frontTx, victimTx, backTx) { // Simulate the sandwich attack // 模拟三明治攻击 const initialBalance = await this.provider.getBalance(frontTx.from); // Execute transactions in sequence // 按顺序执行交易 await this.provider.sendTransaction(frontTx); await this.provider.sendTransaction(victimTx); await this.provider.sendTransaction(backTx); const finalBalance = await this.provider.getBalance(frontTx.from); return ethers.utils.formatEther(finalBalance.sub(initialBalance)); } generateReport() { const passed = this.testResults.filter(r => r.passed).length; const total = this.testResults.length; return { summary: `${passed}/${total} tests passed`, // 通过了 ${passed}/${total} 项测试 score: (passed / total) * 100, results: this.testResults, recommendations: this.generateRecommendations() }; } generateRecommendations() { const recommendations = []; this.testResults.forEach(result => { if (!result.passed) { switch (result.name) { case 'Sandwich Attack Resistance': recommendations.push('Implement commit-reveal mechanism'); // 实施提交-揭示机制 recommendations.push('Use private mempool for sensitive operations'); // 对敏感操作使用私有内存池 break; case 'Arbitrage Opportunity': recommendations.push('Implement TWAP pricing mechanisms'); // 实施 TWAP 定价机制 recommendations.push('Add minimum time delays between trades'); // 在交易之间添加最短时间延迟 break; case 'Liquidation MEV Risk': recommendations.push('Implement Dutch auction liquidations'); // 实施荷兰式拍卖清算 recommendations.push('Add liquidation delay mechanisms'); // 添加清算延迟机制 break; } } }); return [...new Set(recommendations)]; } }

当前行业解决方案和集成

Flashbots 集成

Uniswap Labs 宣布其移动钱包已集成 Flashbots 保护功能，为以太坊网络上的所有交易自动提供用户保护。这代表着向主流 MEV 保护采用的重大转变。

// Flashbots Integration Example // Flashbots 集成示例 class FlashbotsIntegration { constructor() { this.flashbotsRelay = '<https://relay.flashbots.net>'; this.protectRPC = '<https://rpc.flashbots.net>'; } async protectTransaction(wallet, transaction) { // Use Flashbots Protect RPC // 使用 Flashbots Protect RPC const provider = new ethers.providers.JsonRpcProvider(this.protectRPC); const protectedTx = { ...transaction, // Flashbots will handle MEV protection automatically // Flashbots 将自动处理 MEV 保护 gasPrice: await provider.getGasPrice() }; return wallet.connect(provider).sendTransaction(protectedTx); } async submitBundle(transactions) { // Submit transaction bundle to Flashbots // 将交易包提交到 Flashbots const bundle = { transactions, blockNumber: await this.provider.getBlockNumber() + 1 }; const response = await fetch(`${this.flashbotsRelay}/v1/bundle`, { method: 'POST', headers: { 'Content-Type': 'application/json', 'X-Flashbots-Signature': this.signBundle(bundle) }, body: JSON.stringify(bundle) }); return response.json(); } }

未来展望和新兴趋势

2025 年 MEV 格局

最近的分析表明，MEV 已成为限制区块链扩展的主要因素，从根本上改变了我们处理区块链架构的方式。主要趋势包括：

  1. 跨链 MEV (Cross-chain MEV)：随着多链生态系统的成熟，跨链 MEV 变得越来越重要
  2. AI 驱动的 MEV 检测 (AI-powered MEV detection)：用于实时 MEV 检测和预防的机器学习算法
  3. 协议级 MEV 抵抗 (Protocol-level MEV resistance)：旨在最大限度地减少 MEV 提取的新共识机制
  4. 监管关注 (Regulatory attention)：监管机构对 MEV 实践的日益关注

新兴解决方案

// Next-generation MEV protection // 下一代 MEV 保护 class AdvancedMEVProtection { constructor() { this.aiModel = new MEVDetectionAI(); this.crossChainRelayer = new CrossChainRelayer(); } async predictMEV(transaction) { // Use AI to predict MEV risk // 使用 AI 预测 MEV 风险 const riskScore = await this.aiModel.predict(transaction); if (riskScore > 0.7) { return this.applyCrossChainProtection(transaction); } return this.applyStandardProtection(transaction); } async applyCrossChainProtection(transaction) { // Route through multiple chains to avoid MEV // 通过多条链路由以避免 MEV const route = await this.crossChainRelayer.findOptimalRoute(transaction); return this.crossChainRelayer.execute(route); } }

结论

在 2025 年管理 MEV 需要一种多层方法，将技术解决方案、安全最佳实践和新兴的保护机制相结合。随着生态系统的不断发展，开发人员必须随时了解新的威胁和缓解策略。

2025 年的主要要点：

  1. 主动保护 (Proactive Protection)：在协议级别实施 MEV 保护，而不是事后才考虑
  2. 多供应商策略 (Multi-provider Strategy)：不要依赖单一的 MEV 保护服务
  3. 持续测试 (Continuous Testing)：定期的 MEV 漏洞评估至关重要
  4. 用户教育 (User Education)：帮助用户了解 MEV 风险和保护选项
  5. 面向未来 (Future-proofing)：设计能够适应新兴 MEV 策略的系统

通过遵循这些原则并实施本指南中概述的策略，开发人员可以构建更强大、更公平和更高效的 DeFi 应用程序，从而保护用户免受 MEV 剥削，同时保持去中心化金融的优势。

与 MEV 的斗争仍在继续，但凭借正确的工具和策略，我们可以为每个人构建一个更公平的区块链生态系统。

本文代表了 2025 年 MEV 保护的现状。区块链领域发展迅速，因此在实施之前，请务必验证最新的安全实践和保护机制。

  • 原文链接： medium.com/@ancilartech/...
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