diff --git a/sips/sip-revert-sip-45.md b/sips/sip-revert-sip-45.md new file mode 100644 index 0000000..ab72c40 --- /dev/null +++ b/sips/sip-revert-sip-45.md @@ -0,0 +1,56 @@ +| SIP-Number | | +| ---: | :--- | +| Title | revert SIP-45 | +| Description | revert SIP-45 deterministic consensus transaction ordering | +| Author | moonshiesty<@moonshiesty> | +| Editor | | +| Type | Standard | +| Category | Core | +| Created | 2025-02-23 | +| Comments-URI | | +| Status | | +| Requires | | + +## Abstract + +Revert deterministic transaction ordering for consensus as implemented in SIP-45 + +## Motivation + +SIP-45 does not achieve it's goals of prioritizing transaction-submission and instead provides a deterministic mechanism for searchers to position their transactions within a consensus checkpoint by manipulating gas price + +for example SIP-45 allows a searcher to construct a sandwich by paying +1 of the target gas price on the frontrun and -1 unit SUI of the target gas price on the backrun. this is the optimal strategy for any searcher. + +for backruns SIP-45 also does not maximize value for validators since it will always be optimial for searchers to pay exactly -1 unit of SUI to be ordered right after the target + +for arbitrage SIP-45 does maximize validator value, at the risk of providing yet another mechanism for arbitragers themselves to be deterministically frontrun + + +## Specification + +Revert SIP-45 and begin exploring of one of two approaches: + +1) make consensus ordering random. sui randomness already provides a seed to randomly reorder transactions within consensus checkpoints. this approach likely requires an additional hop to consensus (+~130ms). this attempts to minimize extractable value by making it non-deterministic for searchers to place a transaction within a consensus checkpoint. the primary concern with this approach is that searchers can attempt to statistically frontrun targets by spamming transactions that revert if they don't land in the right spot + +2) allow validators to specify consensus ordering and expose an API for searchers to propose a consensus ordering. this approach will maximize extractable value for validators and provides the equivalent of a ["block-building"](https://github.com/ethereum/builder-specs?tab=readme-ov-file) API on SUI + +## Rationale + +reverting SIP-45 is an important issue because deterministic consensus transaction ordering exposes users to MEV without a way to protect themselves through fee markets + +front-running on SUI is possible whenever either: + +1) protocol leaks information about transactions +2) a validator leaks information about transaction certification + +because shio is leaking user transactions, this is present concern to SUI users + +[source from author's X profile](https://x.com/moon_shiesty/status/1893783038653571292) + +## Backwards Compatibility + +no issues with backwards compatibility + +## Security Considerations + +none