Can a Hybrid DEX Model Eliminate MEV Completely?
No model has completely eliminated MEV, but hybrid DEX models can significantly mitigate it. A hybrid model, such as one using an off-chain order book for matching and on-chain settlement, reduces MEV by making the order details non-public until execution.
However, the on-chain settlement phase is still susceptible to MEV, albeit for smaller profits. Complete elimination is difficult as long as transactions must be ordered by a single entity (miner/validator) on the blockchain.