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Oval Integration in Goerli with Flashbots: End-to-End Workflow Example

Overview

This README outlines how to demonstrate a complete Oval workflow on the Goerli test network using Flashbots. It includes monitoring a Price Feed update, participating in Oval auctions, and executing liquidations. The example also provides numerical demonstrations of profit realization by the searcher and the protocol's earnings from liquidation proceeds.

Running the Sample Flashbots Integration on Goerli

Node.js Version Compatibility

Use Node.js version 18.14.2 or 18.X for optimal compatibility with Flashbots TypeScript libraries. Note: Event subscriptions may not function correctly with Node.js version 20.X

Prerequisites

To proceed with this demonstration, ensure you have:

  • Wallet with Private Key: If deploying on Goerli, you can fund your wallet here, here, or here.
  • Foundry Installation: Install Foundry from here.
  • Goerli RPC URL: Use Infura or similar services.
  • Etherscan API Key for Goerli: Optional, obtainable here.

Setup

Clone the Oval Quickstart repository and build the contracts:

git clone https://github.com/UMAprotocol/oval-quickstart.git
cd oval-quickstart
forge install
forge build

Execution Steps

  1. Deploy the Demo Contracts: Run the following command in the root folder of the oval-quickstart repository:

    forge script ./src/liquidation-demo/script/OvalLiquidationDemo.s.sol:OvalLiquidationDemoScript \
--rpc-url https://goerli.infura.io/v3/<YOUR-INFURA-KEY> \
--private-key <YOUR-PRIVATE-KEY> \
--broadcast \
--verify \
--etherscan-api-key <YOUR-ETHERSCAN-API-KEY>

  2. Run the Liquidation Script with Flashbots in Goerli: Fill in the contract addresses and necessary keys in a .env file as shown in /liquidation-demo-flashbots/.env.example:

    NODE_URL_5=https://goerli.infura.io/v3/<YOUR-INFURA-KEY>
CHAIN_ID=5
PRIVATE_KEY=<YOUR-PRIVATE-KEY> # Ensure you have some ETH in Goerli for testing
OVAL_LIQUIDATION_DEMO_PRICE_FEED_ADDRESS=<YOUR-PRICE-FEED-ADDRESS>
CHAINLINK_OVAL_IMMUTABLE_ADDRESS=<YOUR-OVAL-ADDRESS>
OVAL_LIQUIDATION_DEMO_ADDRESS=<YOUR-LIQUIDATION-DEMO-ADDRESS>
PAY_BUILDER_ADDRESS=<YOUR-PAY-BUILDER-ADDRESS>

    Then run the liquidation demo script from the /liquidation-demo-flashbots folder in oval-quickstart:

    cd liquidation-demo-flashbots
yarn install && yarn build 
yarn start