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Update Auctioneer Explanation #119

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sambukowski merged 2 commits into from
Feb 27, 2025
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Update Auctioneer Explanation #119

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a7aa863
Update flame-testnet.md
sambukowski Feb 27, 2025
9b00524
fix bid tip
itamarreif Feb 27, 2025
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17 changes: 8 additions & 9 deletions docs/flame/flame-testnet.md
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Expand Up @@ -39,12 +39,12 @@ Your settings should be the following:

## Auctioneer

The top of the block (ToB) in a DeFi-enabled rollup is particularly valuable
because it provides an execution guarantee. Flame’s trusted Auctioneer simply
needs to allocate, sign and include the auction-winning bundle in the
sequencing-layer block. Flame’s execution enforces a sequencing rule that places
the Auctioneer’s signed `Allocation` deterministically at the top of the block
it was successfully included in.
The top-of-block is valuable in a financial environment because it provides an
execution guarantee. Flame uses a trusted top-of-block sequencing rule to
designate a trusted operator to conduct a sealed-bid, first-price auction for
top-of-block execution, and submit the result for sequencing. The sequencing
rule ensures the signed auction result is executed first, provided it is
included in the block and signed by the trusted auctioneer.

Auctioneer RPC URL: <a :href="config.flame.dawn.info.auctioneer_rpc_url"
target="_blank"><code>{{config.flame.dawn.info.auctioneer_rpc_url}}</code></a>
Expand All @@ -54,9 +54,8 @@ Flame’s Auctioneer runs a first price auction for a bundle, restricted to a sl
Bundles/bids submitted to the Auctioneer are simulated against the latest block to calculate the bid paid to the Auctioneer.

:::tip
*Since V1 uses `eth_sendTransaction` for submission, only single transaction
bids are supported. Bids are calculated from the tip paid by the transaction.
The calculation is as follows:*
*The current version of the trusted auctioneer supports `eth_sendTransaction` for submission.
Bids are calculated from the tip paid by the transaction as follows:*

`totalFee = tx.Gas * min(tx.GasTipCap, tx.GasFeeCap - tx.baseFee)`
:::
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