Merge assumption updates

.gitattributes

@@ -0,0 +1 @@
+*.ipynb    diff=nodiff

.gitignore

@@ -134,7 +134,7 @@ dmypy.json
 
 # Assorted
 .vscode/
-scratchpad.*
+scratchpad*
 scratchpad/
 .DS_Store
 .idea/

CHANGELOG.md

@@ -4,13 +4,25 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
+## [1.1.0] - 2021-07-28
+### Changed
+- Default assumption for `base_fee_process` System Parameter
+- Default assumption for `priority_fee_process` System Parameter
+- Experiment notebook 2, "Validator Revenue and Profit Yields": updated time-domain simulations to run over all stages
+
+### Added
+- `mev_per_block` System Parameter
+- Maximum Extractable Value (MEV) Policy Function
+- "Ethereum Network Assumptions" and "Ethereum Transaction & EIP-1559 Assumptions" added to [ASSUMPTIONS.md](ASSUMPTIONS.md) doc
+- Additional datasets in [data/](data/): Historical Ethereum Average Gas Price, Historical Ethereum Block Rewards, Daily Extracted MEV, Historical Ethereum Gas Used
+
 ## [1.0.0] - 2021-07-15
 ### Changed
 - The model is public!
 
 ## [0.1.2] - 2021-04-29
 ### Changed
-- Refactor of EIP1559 mechanism
+- Refactor of EIP-1559 mechanism
 - Various refactors post-review
 
 ## [0.1.1] - 2021-04-05

README.md

@@ -4,7 +4,7 @@
 
 A modular dynamical-systems model of Ethereum's validator economics, based on the open-source Python library [radCAD](https://github.com/CADLabs/radCAD), an extension to [cadCAD](https://cadcad.org).
 
-* Current model version: `v1.0.0`
+* Current model version: `v1.1.0`
 * Implements the official Ethereum [Altair](https://github.com/ethereum/eth2.0-specs#altair) spec updates in the [Blue Loop / v1.1.0-alpha.7](https://github.com/ethereum/eth2.0-specs/releases/tag/v1.1.0-alpha.7) release
 
 ## Table of Contents
@@ -34,12 +34,12 @@ This open-source model was developed in collaboration with the Ethereum Robust I
 ### Model Features
 
 * Configurable to reflect protocol behaviour at different points in time of the development roadmap (referred to as "upgrade stages"):
-  * Post Beacon Chain launch, pre EIP1559, pre PoS (validators receive PoS incentives, EIP1559 disabled, and PoW still in operation)
-  * Post Beacon Chain launch, post EIP1559, pre PoS (validators receive PoS incentives, EIP1559 enabled with miners receiving priority fees, and PoW still in operation)
-  * Post Beacon Chain launch, post EIP1559, post PoS (validators receive PoS incentives, EIP1559 enabled with validators receiving priority fees, and PoW deprecated)
+  * Post Beacon Chain launch, pre EIP-1559, pre PoS (validators receive PoS incentives, EIP-1559 disabled, and PoW still in operation)
+  * Post Beacon Chain launch, post EIP-1559, pre PoS (validators receive PoS incentives, EIP-1559 enabled with miners receiving priority fees, and PoW still in operation)
+  * Post Beacon Chain launch, post EIP-1559, post PoS (validators receive PoS incentives, EIP-1559 enabled with validators receiving priority fees, and PoW deprecated)
 * Flexible calculation granularity: By default, State Variables, System Metrics, and System Parameters are calculated at epoch level and aggregated daily (~= 225 epochs). Users can easily change epoch aggregation using the delta-time (`dt`) parameter. The model can be extended for slot-level granularity and analysis if that is desired (see [Model Extension Roadmap](#Model-Extension-Roadmap)).
 * Supports [state-space analysis](https://en.wikipedia.org/wiki/State-space_representation) (i.e. simulation of system state over time) and [phase-space analysis](https://en.wikipedia.org/wiki/Phase_space) (i.e. generation of all unique system states in a given experimental setup).
-* Customizable processes to set important variables such as ETH price, ETH staked, and EIP1559 transaction pricing.
+* Customizable processes to set important variables such as ETH price, ETH staked, and EIP-1559 transaction pricing.
 * Modular model structure for convenient extension and modification. This allows different user groups to refactor the model for different purposes, rapidly test new incentive mechanisms, or update the model as Ethereum implements new protocol improvements.
 * References to official [Eth2 specs](https://github.com/ethereum/eth2.0-specs) in Policy and State Update Function logic. This enables seamless onboarding of protocol developers and allows the more advanced cadCAD user to dig into the underlying protocol design that inspired the logic.
 
@@ -62,7 +62,7 @@ The model is composed of several structural modules in the [model/parts/](model/
 
 | Module | Description |
 | --- | --- |
-| [ethereum_system.py](model/parts/ethereum_system.py) | General Ethereum mechanisms, such as managing the system upgrade process, the EIP1559 transaction pricing mechanism, and updating the ETH price and ETH supply |
+| [ethereum_system.py](model/parts/ethereum_system.py) | General Ethereum mechanisms, such as managing the system upgrade process, the EIP-1559 transaction pricing mechanism, and updating the ETH price and ETH supply |
 | [pos_incentives.py](model/parts/pos_incentives.py) | Calculation of PoS incentives such as attestation and block proposal rewards and penalties |
 | [system_metrics.py](model/parts/system_metrics.py) | Calculation of metrics such as validator operational costs and yields |
 | [validators.py](model/parts/validators.py) | Validator processes such as validator activation, staking, and uptime |
@@ -85,7 +85,7 @@ The model is configured using several configuration modules in the [model/](mode
 
 ### Model Assumptions
 
-The model implements the official Ethereum Specification wherever possible, but rests on a few default validator-level assumptions detailed in the [ASSUMPTIONS.md](ASSUMPTIONS.md) document.
+The model implements the official Ethereum Specification wherever possible, but rests on a few default network-level and validator-level assumptions detailed in the [ASSUMPTIONS.md](ASSUMPTIONS.md) document.
 
 ### Mathematical Model Specification
 
@@ -98,7 +98,7 @@ The [Differential Model Specification](https://hackmd.io/@CADLabs/HyENPQ36u) dep
 ## Environment Setup
 
 1. Clone or download the Git repository: `git clone https://github.com/CADLabs/ethereum-model` or using GitHub Desktop
-2. If completing the cadCAD Edu Masterclass MOOC, check out the version `v1.0.0` tag: `git checkout tags/v1.0.0`
+2. If completing the cadCAD Edu Masterclass MOOC, check out the version `v1.1.0` tag: `git checkout tags/v1.1.0`
 3. Set up your development environment using of the following two options:
 
 ### Option 1: Local Development Environment
@@ -284,6 +284,6 @@ If you'd like to cite this code and/or research, we suggest the following format
   publisher = {GitHub},
   journal = {GitHub repository},
   howpublished = {\url{https://github.com/CADLabs/ethereum-economic-model}},
-  version = {v1.0.0}
+  version = {v1.1.0}
 }
 ```

data/README.md

@@ -20,3 +20,19 @@ Thanks to Etherscan. See https://etherscan.io/chart/ethersupplygrowth
 ## Historical Ethereum Price
 
 Thanks to Etherscan. See https://etherscan.io/chart/etherprice
+
+## Historical Ethereum Average Gas Price
+
+Thanks to Etherscan. See https://etherscan.io/chart/gasprice
+
+## Historical Ethereum Block Rewards
+
+Thanks to Etherscan. See https://etherscan.io/chart/blockreward
+
+## Daily Extracted MEV
+
+Thanks to https://explore.flashbots.net/
+
+## Historical Ethereum Gas Used
+
+Thanks to Etherscan. See https://etherscan.io/chart/gasused