Restrict orders which receive quote rewards #61
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- only orders where the amounts are below quoted amounts are eligible - only orders which are not partially fillable are eligible this makes it consistent with the new code in cowprotocol/solver-rewards#328
harisang
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Jan 10, 2024
This was referenced Jan 29, 2024
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Feb 5, 2024
This PR implements the same change as this PR(cowprotocol/dune-sync#73) for dune-sync. Tests have been adapted to the new query. It should be live in production before the payment on 2024-02-06. Text from there: We currently classify limit orders as in-market based on quoted amounts, see [dune sync #61](cowprotocol/dune-sync#61). As it turns out, those amounts do not take fees into account for limit orders. Therefore we misclassify some orders whicch are out-of-market as in-market. This PR changes the classification of in-market orders to be in line with how market orders are created in the frontend: If the quoted amounts are `oq.sell_amount` and `oq.buy_amount` and the estimated fee is `oq.gas_amount * oq.gas_price / oq.sell_price` then a market order sell order would have charged a fee of `oq.gas_amount * oq.gas_price / oq.sell_price` and exchanged the remaining abount `oq.sell_amount - oq.gas_amount * oq.gas_price / oq.sell_price` at the quoted exchange rate `oq.buy_amount / oq.sell_amount` to a buy amount of `(oq.sell_amount - oq.gas_amount * oq.gas_price / oq.sell_price) / oq.sell_amount * oq.buy_amount`. Thus an order would be in-market if `o.buy_amount <= (oq.sell_amount - oq.gas_amount * oq.gas_price / oq.sell_price) / oq.sell_amount * oq.buy_amount`, whoch is equivalent to `(oq.sell_amount - oq.gas_amount * oq.gas_price / oq.sell_token_price) * oq.buy_amount >= o.buy_amount * oq.sell_amount`. For a buy order a reasonable market order would have traded `oq.sell_amount + oq.gas_amount * oq.gas_price / oq.sell_token_price` to `oq.buy_amount`. Thus an order is regarded as in-market if `o.sell_amount >= oq.sell_amount + oq.gas_amount * oq.gas_price / oq.sell_token_price`. These rules are implemented in this PR. Note that those rules are not really applicable to paartially-fillable orders. It can happen that an execution for the full amount is not possible (out-of-market) but smaller chunks can be executed. When that usecase arises we need to revisit this code.
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We decided to restrict a bit more quotes which can receive rewards to be in line with the original spirit of CIP-27.
This PR would make the data synced to dune consistent with cowprotocol/solver-rewards#328
The additional restrictions are:
Note that the convention for block ranges in this repo is different from the convention in the solver rewards repo. This inconsistency is maybe a bit confusing. But not a problem for any of the queries since this repo is only about syncing data.
This refines PR #59