Modify EMP.minBidSize to be in terms of quote token

0xJem commented 2 months ago

Currently, EMP.AuctionData.minBidSize is an absolute number in terms of the base token, which is used in the following:

To reject bids that have a bid amount that is less than the minimum (minBidSize * minPrice)
To skip decryption of bids that have an amount out less than the minBidSize

The suggestion is to change minBidSize to be in terms of the quote token. This would involve the following changes:

AuctionDataParams would take the minBidSize in as an absolute number, instead of the percentage of capacity that is currently used
Bids will be rejected if the bid amount < minBidSize
There will be no need to skip decryption of bids, as the amount (in) would have been filtered already

As a result of this, there will be no filtering on the amount out (base token). Are ok with that?

0xJem commented 2 months ago

@Oighty for review

Oighty commented 2 months ago

The goal of minBidSize is to enforce a maximum number of bids that can be settled. I'm realizing that doing it in quote tokens removes the effectiveness of this in certain cases. I'm going to discuss with tex, and I'll get back to you on the path forward.

0xJem commented 2 months ago

What was the decision on this?

Oighty commented 2 months ago

I need to look at adding iterative settlement alongside this. I wanted to get the new testnet deploys done first

0xJem commented 2 months ago

% of capacity at the minimum price vs
raw quote token value

2 seems more intuitive

Axis-Fi / axis-core

Modify EMP.minBidSize to be in terms of quote token #161