Execution Preconfirmations
Coming est. Oct 2024
Execution Preconfirmations (or Execution Preconfs) are Inclusion Preconfs but with a guarantee by the Proposer of a specific state or result. Bids are for specific Trades or Bundles, requiring both a certain amount of Blockspace.
Execution guarantees come in many forms - reach out to us at: searchers@ethgas.com, or on Twitter/X, to discuss some of the specific types of guarantees that would best suit your needs
Execution Preconfs are only for the current slot, and settled using a Progressive Auction.
Progressive Auction
Bundles are simulated in realtime with the Auction Winners being any number of parties (and related trades, or bundles) with the highest collective price for a block. For illustration:
Progressive Auction Dynamic: Let’s assume that:
Bidder A - wants to do X, bidding 10
Bidder B - wants to do Y, bidding 8
Bidder C - wants to do Z, bidding 6
Conflict Mapping:
Bidder A conflicts with Bidder B
Nobody conflicts with C
Grouping: We therefore have two Groups:
Group 1: Bidder A + Bidder C = 10 + 6 = 16
Group 2: Bidder B + Bidder C = 8 + 6 = 14
Group 1 would then be awarded the Execution Guarantees at T = 12 secs.
When a guarantee cannot be provided for a given bid (e.g. in the illustration above to Bidder B), a “bid_insufficient” response is delivered via both REST and Websocket notifying the bidder that their price is insufficient to provide such a guarantee.
Transaction Fees: [ 10% ] TBC
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