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OEV Searcher Starter

An Example project to demonstrate how to use the OEV Network to place bids on dAPI proxies and then update those proxies using the encoded data from the OEV Network.

Instructions

Install dependencies

  • Create a .env file similar to example.env. The scripts work with mantle mainnet by default, but you can change the network to any of the networks supported by the API3 Market.
yarn

Deploy the Multicall contract

  • Deploy a multicall contract on the target chain. The multicall contract is used to perform the oracle update and any other subsequent calls in a single transaction. You can use the deploy-multicall script to deploy the contract.
yarn deploy-multicall

Bridge and Deposit

  • Bridge ETH to the OEV Network using the OEV Network bridge

  • After Bridging ETH to the OEV Network, deposit ETH to the OevAuctionHouse contract. Use the deposit-collateral script to deposit ETH to the contract.

yarn deposit-collateral

Note: The script deposits 0.00001 ETH to the contract. You can change the amount by passing the AMOUNT environment variable.

AMOUNT=0.1 yarn deposit-collateral

Place Bid and Update dAPI Proxy

  • You can now place bid, retrieve the encoded data and update the dAPI proxy using the submit-bid-update script. The script also reports the fulfillment of the oracle update which is required to release the collateral.
yarn submit-bid-update

  • The script places a bid of .000001 MNT on the condition that the price of MNT is less than or equal to 5. This condition is immediately satisfied upon placing the bid and the bid gets immediately rewarded with the encoded OEV update transaction details. The update transaction details are then used to update the dAPI proxy.

  • You can change the bid amount, proxy address, chain id, bid condition and bid price by passing the respective environment variables. For example to update the ETH/USD dAPI proxy on Mantle mainnet with a bid amount of 0.00001 MNT, a bid condition of LTE and a bid price of 4000, you can run the following command:

BID_AMOUNT=0.00001 PROXY_ADDRESS=0xa47Fd122b11CdD7aad7c3e8B740FB91D83Ce43D1 CHAIN_ID=5000 BID_CONDITION=LTE BID_PRICE=4000 yarn submit-bid-update

Note: Make sure the multicall contract is deployed on the target chain before running the script.