ReadMe seems to be missing details about the incentives paid to keepers?
tomachinz opened this issue · 4 comments
The word incentive is mentioned twice:
The DAI Stablecoin System incentivizes external agents, called keepers, to automate certain operations around the Ethereum blockchain.
and
A big part of the DAI Stablecoin System (DSS) is the incentivization of external agents, called Keepers (which can be human but are typically automated bots).
but appears missing reference to any incentivisation. Point 9 Running Market Maker Keepers explains the command line arguments, but nothing about how the payouts are calculated. I guess that is coming from another part of the program (Maker DAO say), but for noobs like me would be good to have a link to say... the page on the component where this does reside. (I'll see about adding it and adding a pull request once I find it?!)
I think this is CDP Keeper. Once you find a risky CDP you get rewarded. Looks like it's not stable yet
OK so I can now see that MIN_MARGIN is a percentage (let's say 20%), I think perhaps liquidation ratio is always permanently locked at 150%... Comprehension could maybe come to my brain assuming I have MIN_MARGIN plus TOP_UP_MARGIN, ETH_FROM is my own keepers money-pile (arguably the entire point of running one) from where top ups come, but since I am unsure about what MAX_SAI is or means, nor AVG_SAI (maybe the current Sai value in USD?), it all gets a bit much for Mr Noob right here :) Perhaps they are valued in Dai not USD?
It sounds like there is some confusion about the role of market-maker-keepers. This repository is primarily concerned with market-making software. Collateralization ratios and liquidation (flip) auctions are handled by auction-keepers: https://github.com/makerdao/auction-keeper.
I've updated the README to clarify this distinction: #217.
For answers to more detailed questions, feel free to stop by the Maker community chat at https://chat.makerdao.com/
Thanks Mike!