Market Aid

Contract Source Code (opens in a new tab)

Overview

MarketAid.sol is a helper contract for advanced trading and market making on RubiconMarket.sol. Think of it as a middle-layer contract that allows traders to make larger, more efficient, and more complex transactions on the Rubicon order books.

Users need to create a MarketAid.sol by using the instance of MarketAid, If you have any questions or trouble with MarketAid, join our Discord server (opens in a new tab), our team is happy to help you get started with automated trading on Rubicon!

Disclaimer

MarketAid.sol is in beta and for sophisticated developers and users only. Use it at your own risk.

Quick Start

To get started, create your own MarketAid.sol instance, fund the contract with ERC-20 tokens, and send your first batch of orders to RubiconMarket.sol! You can use ethers.js to integrate this into an existing bot, and we are working on tutorials to make it even easier! Let's get started:

1. Create a new instance of the MarketAid contract

   1. Deploy a MarketAid instance by calling createMarketAidInstance() on the MarketAidFactory contract. This will spawn a new instance of MarketAid that is permissioned to the caller of createMarketAidInstance() and automatically approve them as a strategist with access to the contract.

2. Fund your MarketAid instance with the ERC-20s you want to trade (WETH,USDC, DAI, etc.)

   1. Your MarketAid instance can be queried via getUserMarketAid() on MarketAidFactory or by reading the event emitted from the createMarketAidInstance() call.
   2. Verify you control the contract first via Etherscan by checking the admin variable is your address and that you are also an approvedStrategist .
   3. Verify you are sending funds to the right address!

3. Send batches of Rubicon orders from your MarketAid contract using the functions described below

Note: The owner of a MarketAid instance can approve additional addresses to use and access the contract (multiple addresses can clear the onlyApprovedStrategist check)

Troubleshooting

Make sure to check the following:

• Where is my MarketAid instance?
  • Query with getUserMarketAid() -> returns an array of all instances you have created
• Your MarketAid instance has approved the contracts you want to interact with
  • Otherwise, transactions will. Using placeMarketMakingTrades() will automatically approve the RubiconMarket contract
• You are the admin of your Market Aid instance
  • Query with admin() on your instance -> returns the EOA that owns the instance
• Any EOA you are trying to manage an ERC20 pair with, via MarketAid is an approved strategist
  • Main security check in the contract, admin is auto-approved as a strategist

Functions (In Progress)

Generally, each of the inputs is the exact same as one would place on the low-level RubiconMarket: the raw uint values of the ERC20s you want to bid and/or ask for when placing offers ( offer() ). In order to batch, pass in the values for all the offers as arrays, with all like-variables (e.g. ask numerators) paired together. The arrays passed in must match in legth - this can be helpful when placing a number of offers at once with different prices. Note the use of formatUnits() and parseUnits() through ethers helps with numbers and ERC-20 values when dealing with human number = wei conversions.

An important concept is that each order placed through MarketAid (via placeMarketMakingTrades ) creates a unique ID that can identify a market maker's outstanding orders. The outstanding book can be queried at any time for any given EOA via getOutstandingStrategistTrades() - this is helpful to manage an outstanding book and get the list of unique IDs or strategistTrades a given user controls. A market maker can query their book, then requote ( batchRequoteOffers ) or cancel ( scrubStrategistTrades ) them as needed. Note that fill automatically accrues to the MarketAid instance that a user controls.

• placeMarketMakingTrades
  • Place a BID and/or an ASK in a single unique "strategistTrade"
• batchMarketMakingTrades
  • Optionally place many placeMarketMakingTrades calls in a batch fashion to deploy an entire liquidity curve (e.g. 10 bids and 10 asks at differing prices and size depending on market conditions)
• getOutstandingStrategistTrades view
  • Returns the unique IDs of a user's outstanding (batch) offers
• getStrategistTotalLiquidity view
  • Returns the total ERC-20 book value amount a user controls across the market AND the value sitting on the MarketAid instance
• requote
  • Single requote of a strategistTrade (bid and/or ask pair) to a new pair that generates a new unique id
• batchRequoteOffers
  • Call requote() in batch to update an entire liquidity curve in a single go. This cancels all ids identified and replaces them with the new offer payloads specified
• batchRequoteAllOffers
  • Grabs the user's outstanding book IDs via getOutstandingStrategistTrades() then updates them all via batchRequoteOffers()
• scrubStrategistTrade
  • Cancels a strategistTrade and returns funds that haven't been filled/taken to Market Aid
• scrubStrategistTrades
  • Cancel multiple strategistTrades in a single transaction
• adminPullAllFunds
  • Helpful function for the admin to get all their funds back by specifying the ERC-20s they want
• strategistRebalanceFunds
  • Optional function to use an external liquidity venue to arbitrage against or rebalance funds through