Phiat Team Engineering Update: Dev 1 has been working on improving liquidations/keeper functionality the past two weeks or so.
24 Jul 2022, 03:19
Phiat Team Engineering Update: Dev 1 has been working on improving liquidations/keeper functionality the past two weeks or so.
Liquidations occur outside of the protocol code. Users program bots to perform the liquidations and these are proprietary (and valuable). They are not open sourced. There is no copy paste.
The bot that performs the liquidations is an essential feature to these sorts of protocols. Theoretically anyone can liquidate but we want to ensure that liquidations occur in a timely manner so as to reduce the risk of shortfall incidents in highly volatile periods.
This means that we need to be able to scan the entire user base as fast as possible. Our original bot (made just for demo purposes) would scan the user base in roughly 1.5 minutes. We now have this down to 2-3 seconds.
Our price oracle similarly has improved from 1 minute to 2-3 seconds.
Dev 1 will continue to make improvements on this in a variety of ways. This illustrates the importance of strong computer science ability in these projects. This is being managed internally without the help of “consultants.”
These liquidation functions will also be used in Phamous.io. We have finished the code for it and will connect the UI over the next fortnight.
Dev 2 has been working on Phatty and it’s looking quite nice. We have a functional demo of it that we hope to be able to share with you soon once we have added the minimum protocols to it.