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Co-authored-by: Derek Croote <[email protected]>
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Ashar2shahid and dcroote authored Jul 8, 2024
1 parent 9a5f24d commit 3963eb0
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Expand Up @@ -28,17 +28,17 @@ In the event that the oracle update is fulfilled, the searcher is refunded the
collateral and is charged a protocol fee. The protocol fee is also a percentage
of the bid amount.

If the oracle update is not fulfilled, the collateral is slashed
The collateral and protocol fee rates are configurable parameters within the
OevAuctionHouse contract and are configured by the API3 DAO.

| Parameter | Value |
| ------------------------ | ----- |
| collateralInBasisPoints | 1000 |
| protocolFeeInBasisPoints | 0000 |

::: tip
::: warning

The collateral and protocol fee rates are configurable parameters within the
OevAuctionHouse contract and are configured by the API3 DAO.
If the oracle update is not fulfilled, the collateral is slashed

:::

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Expand Up @@ -32,7 +32,7 @@ computed. This is because the validity of a bid is at most
meaning that the state of the auctioneer can be computed using the logs from the
last 48 hours (accounting for fulfillment reporting window).

All relevant OevAuctionHouse logs are fetched ordered chronologically and
All relevant OevAuctionHouse logs are fetched, ordered chronologically, and
processed in sequence. For each PlacedBid event, the bid details are decoded and
stored. If the bid is for an unknown chain/proxy combination it is ignored.
Similarly, the bid is ignored if the bid details cannot be decoded.
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