From 1911336ed5ae596a37c30e4770edb0eaa0244cab Mon Sep 17 00:00:00 2001 From: gogonimago <78171199+gogonimago@users.noreply.github.com> Date: Thu, 1 Feb 2024 23:09:16 -0800 Subject: [PATCH 1/2] Update solvers.md --- docs/cow-protocol/concepts/introduction/solvers.md | 13 +++---------- 1 file changed, 3 insertions(+), 10 deletions(-) diff --git a/docs/cow-protocol/concepts/introduction/solvers.md b/docs/cow-protocol/concepts/introduction/solvers.md index 689f8d9c..48fe5166 100644 --- a/docs/cow-protocol/concepts/introduction/solvers.md +++ b/docs/cow-protocol/concepts/introduction/solvers.md @@ -10,16 +10,9 @@ CoW Protocol delivers optimal price outcomes by leveraging an open solver compet Solvers are bonded third parties that execute trades on behalf of users through an [intent-based delegated execution model](intents). -Once a user submits an [intent](intents), the protocol groups it alongside other intents in a batch. +Once a user submits an [intent](intents), the protocol groups it alongside other intents in a batch auction. As soon as a batch is "closed for orders", meaning that it stops considering new orders, the protocol runs a [competition](/cow-protocol/reference/core/auctions) where solvers submit solutions for the intents in the batch. -Whichever solver offers the best [solution](/cow-protocol/reference/core/auctions/the-problem#solution) for the batch (defined as the solver that provides the most surplus to user orders) gets to execute the orders. +Whichever solver offers the best [solution](/cow-protocol/reference/core/auctions/the-problem#solution) for the batch auction (defined as the solver that provides the most surplus to user orders) gets to execute the orders. -Solvers are compensated in COW tokens for settling batches, incentivizing them to compete to find better prices and win the right to execute user intents. - -## How Solvers Work - -Solvers can move tokens on behalf of the user using the ERC-20 approvals that the user granted to the [vault relayer](/cow-protocol/reference/contracts/core/vault-relayer) contract. -The [settlement](/cow-protocol/reference/contracts/core/settlement) contract, meanwhile, verifies the signature of the user's intent and ensures that execution happens according to the limit price and quantity specified by the user. - -Anyone with some DeFi knowledge and ability to code an optimizations algorithm can create a solver. +In order to incentivize a healthy competition and guarantee the best outcome for user orders, solvers get awarded COW tokens each time they solve a batch. From becf5c849382dd08cd30c39b2614b6f53e0a1039 Mon Sep 17 00:00:00 2001 From: gogonimago <78171199+gogonimago@users.noreply.github.com> Date: Tue, 2 Apr 2024 12:48:38 -0700 Subject: [PATCH 2/2] Update docs/cow-protocol/concepts/introduction/solvers.md Co-authored-by: mfw78 <53399572+mfw78@users.noreply.github.com> --- docs/cow-protocol/concepts/introduction/solvers.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/docs/cow-protocol/concepts/introduction/solvers.md b/docs/cow-protocol/concepts/introduction/solvers.md index 48fe5166..fe8e7722 100644 --- a/docs/cow-protocol/concepts/introduction/solvers.md +++ b/docs/cow-protocol/concepts/introduction/solvers.md @@ -15,4 +15,4 @@ As soon as a batch is "closed for orders", meaning that it stops considering new Whichever solver offers the best [solution](/cow-protocol/reference/core/auctions/the-problem#solution) for the batch auction (defined as the solver that provides the most surplus to user orders) gets to execute the orders. -In order to incentivize a healthy competition and guarantee the best outcome for user orders, solvers get awarded COW tokens each time they solve a batch. +In order to incentivize a healthy competition and guarantee the best outcome for user orders, solvers get rewarded COW tokens each time they solve a batch.