Ephema's connection to the AI agent ecosystem is found in their use of agent-based modeling (ABM) to simulate protocol incentives. In the context of blockchain, an "agent" is typically an autonomous searcher or solver bot participating in the MEV supply chain. Ephema builds the simulations that predict how these agents will interact with new protocol mechanisms, such as Execution Tickets or shared sequencers. This work is critical for anyone building autonomous economic agents, as it defines the rules of the environment in which those agents must operate.
Additionally, the group has experimented with LLM-based research agents for group summarization. While their primary focus remains on economic agents rather than conversational AI, their work on "intelligent aggregation" of data and incentive-aligned market design is directly applicable to decentralized agent swarms. They sit at the infrastructure and simulation layer, providing the game-theoretical foundation for how autonomous actors should be incentivized to act benevolently within a network.
Ephema is an Ethereum research studio that operates at the intersection of game theory and protocol engineering. Based primarily in Berlin and active through decentralized research residencies like ZuBerlin, the group focuses on the underlying incentive structures that govern blockchain networks. Their work is fundamentally about ensuring that as Ethereum scales, the economic mechanisms remain stable and resistant to centralization. This mission is backed by several of the most influential entities in the space, including the Ethereum Foundation and the Uniswap Foundation.
Much of the group's practical output centers on the concept of blobspace, a data storage mechanism introduced in Ethereum’s EIP-4844 (proto-danksharding). Because blobspace is a finite and costly resource, Ephema developed BlobFusion, which they describe as "ride-sharing for blobs." This tool allows smaller Layer 2 networks to aggregate their transaction data into a single blob, sharing the costs and maximizing the efficiency of the network's data availability layer. It is a technical solution to a coordination problem, ensuring that smaller players are not priced out of the Ethereum ecosystem.
Beyond data availability, Ephema is deeply involved in the debate over Execution Tickets and Proposer-Builder Separation (PBS). Execution Tickets represent a proposed protocol change that would separate the right to propose a block from the right to execute the transactions within it. This is a significant shift in how Ethereum blocks are constructed and sold. Ephema uses agent-based modeling to simulate these scenarios, predicting how market participants will behave under different protocol rules. Their research helps the core development community understand if a proposed change will successfully redistribute Maximal Extractable Value (MEV) or if it will inadvertently create new centralizing pressures.
Their simulation work is not just theoretical. On GitHub, the group maintains repositories for Execution Ticket simulations and secondary market mechanisms. These tools allow other researchers to test market dynamics and see how protocol changes might affect execution block allocation. By providing these open-source tools, Ephema acts as a facilitator for the broader research community, turning complex economic theories into testable code.
Ephema is also the organization behind several key community initiatives, most notably ZuBerlin. These research residencies are designed to gather protocol designers, cryptographers, and economists in one location to work on Ethereum’s most pressing problems. By hosting these events in 2024 and 2025, they have established themselves as a central node in the European Ethereum research community. This physical presence complements their digital work, allowing for the high-bandwidth collaboration required for mechanism design.
While they are primarily a research studio, their work has direct implications for the future of decentralized finance (DeFi). By studying MEV redistribution and shared sequencing, they are helping build a more equitable market for end users. Their focus remains on the "ephemeral"—the short-lived opportunities and fast-moving protocol changes that define the current state of Ethereum's technical roadmap.
Ride sharing for Ethereum's blobs to maximize efficiency and reduce costs.
Ephema is hiring