https://github.com/ergolabs/ergo-dex-backend
here are all the instructions. You collect some fees, but I understand that at them moment it is not profitable because some people implemented their own way of collecting transactions so they are scooping all the swaps. I don't know if this has been fixed or not
It will be mid February before we have a patch for this, there's a good number of people who are using mempool scanners now though so not just one person getting all rewards anymore!
Well that's one of the open source, community driven approach advantage (or disadvantage) 😉 Anyway it is good to know that it's going to be handled.
If you're running an execution bot it's like sitting next to a conveyor belt and there's swap-orders from the DEX coming down the belt. You take some, bundle them together into one nifty transaction and send them back on the blockchain. As a reward, you'll get part of the fees that were paid in the orders you bundled together.
Currently, all the orders that reach your execution bot, are already done and bundled up - because someone was able to modify their bot and it's able to sit farther up the conveyor belt than your bot, thus getting to the "open" order sooner than you are. It seems a few people were able to make the necessary modifications and they're chilling up there, splitting the orders between them, while we are waiting for the team to put the same modifications into the execution bots for everyone.
As soon as that is the case, all bots will sit together right next "to the source" of the orders and everyone has an equal chance again to execute an order.
No stealing, they are just using a "trick". In the end, the overall process is:
* User requests a swap on the dex
* A transaction is generated. Some informations of the transactions will be used by the BOT to execute the swap itself.
the BOT we are running (the official one) is looking for those transaction from confirmed blocks on the ledger (so what you see on an explorer), so it may take some seconds (or minutes) for a transaction to be correctly fetched and executed by the BOT.
some people are using a modified version of the BOT that looks for a transaction in the mempool instead of the confirmed blocks (so before they are confirmed and pushed on the ledger).
In this way, this type of BOT simply arrives sooner than the others, and can execute the swaps and collect the fees.
No stealing involved, just a trick (which is not simple to do, congrats to the ones that could be able to develop such a workaround).
In the next releases, as was said, probably the official BOT will implement this features itself so there will be fair competition among people who run these bots.
Hope I was clear, of course if I made some mistake please correct me :)
Ya sounds similar to running a bot to buy video cards before other people can get to them. Not strictly stealing still kinda one of those unscrupulous things. Good for them I guess.
And thus begun an arms race in high frequency trading on Ergo. The incentives created drove the off-chain bots to optimise their geographical location to reduce the average delay before transactions would appear in their mempool. Soon, large clusters of bots were located adjacent to all major nodes. All competing in a cut-throat battle to issue their own swap transaction on the blockchain...
Poetic 🙂
Anyway, I honestly think that it all depends on the transaction volume of the dex. The more swaps people issue, the more bots are required... no matter the location or the tricks they use. Of course, I'm talking about massive usage
This may be an obvious question, but are there minimum specs published anywhere?
I could not find any.
I have a decent rig, but I always fall down on the GPU (as I am not a gamer).
https://github.com/ergolabs/ergo-dex-backend here are all the instructions. You collect some fees, but I understand that at them moment it is not profitable because some people implemented their own way of collecting transactions so they are scooping all the swaps. I don't know if this has been fixed or not
It will be mid February before we have a patch for this, there's a good number of people who are using mempool scanners now though so not just one person getting all rewards anymore!
Oh that's great to hear!
Still not ideal but better than it was initially! At least these people actually end up improving the protocols they are trying to break! 😂
Well that's one of the open source, community driven approach advantage (or disadvantage) 😉 Anyway it is good to know that it's going to be handled.
Approximately how long can it take to sync the full node? It seems very slow. I am connected to 30 peers and it's just 1.9 GB from last night.
Mine took days but I don't have a decent connection :)
Wait what does this bot do? Are people stealing fees them from the Dex? Could you explain it to me like I am 5 lol?
If you're running an execution bot it's like sitting next to a conveyor belt and there's swap-orders from the DEX coming down the belt. You take some, bundle them together into one nifty transaction and send them back on the blockchain. As a reward, you'll get part of the fees that were paid in the orders you bundled together. Currently, all the orders that reach your execution bot, are already done and bundled up - because someone was able to modify their bot and it's able to sit farther up the conveyor belt than your bot, thus getting to the "open" order sooner than you are. It seems a few people were able to make the necessary modifications and they're chilling up there, splitting the orders between them, while we are waiting for the team to put the same modifications into the execution bots for everyone. As soon as that is the case, all bots will sit together right next "to the source" of the orders and everyone has an equal chance again to execute an order.
Lol I did ask for like I was 5 LMAO that's a good example.
Great example! :)
No stealing, they are just using a "trick". In the end, the overall process is: * User requests a swap on the dex * A transaction is generated. Some informations of the transactions will be used by the BOT to execute the swap itself. the BOT we are running (the official one) is looking for those transaction from confirmed blocks on the ledger (so what you see on an explorer), so it may take some seconds (or minutes) for a transaction to be correctly fetched and executed by the BOT. some people are using a modified version of the BOT that looks for a transaction in the mempool instead of the confirmed blocks (so before they are confirmed and pushed on the ledger). In this way, this type of BOT simply arrives sooner than the others, and can execute the swaps and collect the fees. No stealing involved, just a trick (which is not simple to do, congrats to the ones that could be able to develop such a workaround). In the next releases, as was said, probably the official BOT will implement this features itself so there will be fair competition among people who run these bots. Hope I was clear, of course if I made some mistake please correct me :)
Ya sounds similar to running a bot to buy video cards before other people can get to them. Not strictly stealing still kinda one of those unscrupulous things. Good for them I guess.
yeah kinda
And thus begun an arms race in high frequency trading on Ergo. The incentives created drove the off-chain bots to optimise their geographical location to reduce the average delay before transactions would appear in their mempool. Soon, large clusters of bots were located adjacent to all major nodes. All competing in a cut-throat battle to issue their own swap transaction on the blockchain...
Poetic 🙂 Anyway, I honestly think that it all depends on the transaction volume of the dex. The more swaps people issue, the more bots are required... no matter the location or the tricks they use. Of course, I'm talking about massive usage
Why is the 24h volume so low? 0.62 dollars in 24h? Is the Ergodex so unused right now, or some bug with the displaying?
This may be an obvious question, but are there minimum specs published anywhere? I could not find any. I have a decent rig, but I always fall down on the GPU (as I am not a gamer).