Commitment Buyers

Buyers, that is, Traders, Searchers, Wallets, Protocols, and other End-Users of blockspace products directly submit Bids via API to the ETHGas exchange. See our API Docs.

Validators (called Proposers) are required to post 0.1 ETH of collateral for each 1 million of blockspace, or 3ETH Total for an entire block. In the event the Proposers do not include certain commitments in their block, this triggers a ‘default’ upon which their collateral will be slashed accordingly. The proceeds from slashing will then be distributed to Commitment buyers proportionate to the size of the commitment.

To further help Buyers assess counterparty risk, we have assigned a Counterparty risk metric denoted CTPY which is a function of the Percent of all the previous commitments honored. [ More, soon ]

While Execution Guarantees, Whole Blocks, and potentially Consecutive Blocks (in the future) inherently carry more counterparty risk than Inclusion Guarantees per unit of gas, we feel it is not warranted to institute a dynamic collateral or margining mechanic for fear of overcomplication. We may explore this in the future to the extent it is relevant.

While Buyers may seek commitments up to 64 slots in advance, they may only submit transactions within the last 12 seconds when their slot reaches the current/next slot

Execution of Preconfs

Within the 12 secs + Validator Timing Adjustment Commitment Buyers must have submitted a signed preconf transaction object via API to the ETHGas Exchange:

Following this, Builders may constantly fetch the list of preconf transactions from ETHGas, build the blocks and submit them through the relay accordingly

Target Users

• Inclusion Preconfs: Latency-based order flow, Intents/Exchanges with offchain order matching,

• Execution Preconfs: Searchers, CEX/DEX Stat Arb, HFT

• Whole Block: Market Makers, Searchers, Stat Arb