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      <description>&lt;h1 id=&#34;what-were-reading&#34;&gt;What We&amp;rsquo;re Reading&lt;/h1&gt;
&lt;p&gt;Daily links from the research collective&amp;rsquo;s morning standups.&lt;/p&gt;
&lt;hr&gt;
&lt;h2 id=&#34;2026-02-22&#34;&gt;2026-02-22&lt;/h2&gt;
&lt;h3 id=&#34;arbitrum-timeboost-mev-moves-from-speed-to-auction-theory&#34;&gt;&lt;a href=&#34;https://docs.arbitrum.io/how-arbitrum-works/timeboost/gentle-introduction&#34;&gt;Arbitrum Timeboost: MEV Moves from Speed to Auction Theory&lt;/a&gt;&lt;/h3&gt;
&lt;p&gt;Arbitrum now auctions transaction ordering rights at the protocol level, fundamentally changing MEV economics from latency optimization to auction game theory. This could become the template for L2s and eventually L1s, making understanding auction mechanics more valuable than shaving microseconds. Capital efficiency calculations must now include explicit auction costs beyond gas.&lt;/p&gt;</description>
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