Keepers incentive-following bots

Compete for profit opportunities created by the Maker system

Introduction

The Maker system provides various opportunities for profit which help to maintain market equilibrium. Strategies to arbitrage these opportunities can be codeified as keepers - automated bots which can detect and trade inefficienies across Dai Core, Oasis and USD exchanges.

It’s expected that developers and operators will evolve their own keepers over time. Here are a few of our reference keepers for inspiraton:

Bite

CDPs that fall below the safe collateralization ratio can be liquidated by any external agent via an operation known as bite

The Bite Keeper constantly monitors the Dai Tub contract looking for unsafe cups and bites them the moment they become unsafe. In future versions, it will take into account the profit it can make by processing the liquidated collateral via bust and only waste gas on bite if it can make it up by subsequent arbitrage. For now, it’s just a dumb keeper that bites any cups that become unsafe.

CDP Maintenance

The CDP Keeper is responsible for actively monitoring and managing open CDPs. In early versions it was only capable only of topping up CDPs at risk of falling below the liquidation level, but more functionality is curently being added to allow:

  • automatically wiping debt when approaching the liquidatio ratio
  • managing the dai volume to keep it within specific range

This keeper is still under development.

Arbitrage

The Arbitrage Keeper performs arbitrage on OasisDex, join, exit, boom and bust actions. It constantly scans for profitable arbitrage opportunities and executes them the moment they become available.

Market Makers

Market making keepers for OasisDex, EtherDelta and RadarRelay.

Market Makers is a set of keepers that facilitate DAI/W-ETH and DAI/ETH market making on the following exchanges:

  • OasisDex
  • EtherDelta
  • RadarRelay