JustTheTip

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Problem Statement

Block space is not created equal with significant premium being placed to being able to include transactions before others to achieve execution advantage. The so-called top of block is both a practical (being in the first few transactions) and abstract notion (landing a transaction before any other interaction with the same smart contract / subset of functionality within a contract like a specific AMM pool). Regardless on exact definition, being able to gain advantage over ordering through guarantees around execution is the object of the current preconfirmation design space.This hackathon project explores how a purely application layer preconfirmation system could work through the use of a fair blind auction run on Fhenix to allow for the permissionless bidding on any block space.

Solution

The project has two main components, a blind auction with FHE extensions for running on Fhenix and a general solidity smart contract which implements attestation verification and ordering logic. The first component only needs to be deployed once and can work for any chain. The second component should be included in any contract wishing to utilise the ordering guarantees.