Suggested edits #360
Suggested edits #360
Conversation
|
The latest updates on your projects. Learn more about Vercel for Git ↗︎
|
|
|
||
|  |
There was a problem hiding this comment.
I think some image on the first landing page would be nice. It's a good way to pull in anyone who otherwise sees a big block of text with jargon and gets demotivated.
|
|
||
| ## What is Express Relay? | ||
| **For Searchers:** Express Relay aggregates liquidation and other MEV opportunities across integrated DeFi protocols, providing easy and unified access. |
There was a problem hiding this comment.
I'm curious for others' takes here, but i think "MEV opportunities" isn't the best phrase to use since the term "opportunity" in the Express Relay context relates to getting rid of MEV. I don't know what the alternative is here since "opportunity" hasn't yet been defined so it'd be a bit weird to use. Maybe we could just say "opportunities" and link to the page on Opportunities?
There was a problem hiding this comment.
Linking to opportunities page will be sufficient.
|
|
||
| Express Relay enables protocols to recapture the MEV they currently leak to validators. By integrating with Express Relay, a protocol internalizes the auction for priority on its lucrative transactions (e.g. liquidations). It also taps into an existing set of searchers already integrated into and actively performing liquidations through Express Relay, reducing the need for the protocol to boostrap and maintain or incentivize its own set of liquidators. | ||
| **For Protocol Developers:** Express Relay’s auction primitive allows your protocol to prioritize access to permissionless operations, eliminating the extractive role of miners in ordering transactions. |
There was a problem hiding this comment.
Technically, the operations become permissioned now, maybe just drop the permissionless and replace with "lucrative"?
There was a problem hiding this comment.
IMO, this statement bit overkill for intro page. @anihamde
| @@ -1,32 +1,16 @@ | |||
| # Introduction | |||
|
|
|||
| Many protocols generate MEV on a regular basis. Borrow-lending protocols for example expose lucrative liquidation bonuses that searchers compete for on tips made to the chain's miners or validators. Most of the value in the liquidation opportunity is captured by the validators, so the liquidation bonus is in essence a transfer of wealth from the protocol to the validators. | |||
| Express Relay is a priority auction that enables protocols to eliminate miner-extractable value (MEV). | |||
There was a problem hiding this comment.
In general, i like that there's less content here. more of the deep content can be reserved for other pages, but this is good as a way to 1. attract people's interest by focusing on the most important points, 2. focus on the 2 integration paths and help the 2 relevant parties navigate to the content they need.
| @@ -0,0 +1 @@ | |||
| # Relayer | |||
There was a problem hiding this comment.
this can be eliminated i think
| For example, borrow-lending protocols provide bonuses to searchers for liquidating undercollateralized loans. | ||
| Searchers compete for these bonuses by tipping the chain's miners or validators. | ||
| The validators capture most of the value of the liquidation bonus via these tips, so the liquidation bonus is in essence a transfer of wealth from the protocol's users to the validators. |
There was a problem hiding this comment.
Could note explicitly that this transfer is unnecessary: most of the value dangled by the protocol goes not to the parties that provide an active service (searchers doing liqs) but rather to the passive miners who just control the ordering of txs
| Searchers then participate in an off-chain auction to access these operations. | ||
| Their bids in the auction determine the priority of their transactions, i.e., the order in which their transactions will be executed. | ||
| The winners transactions are forwarded to the blockchain, which both pays their bid and executes the operation. |
There was a problem hiding this comment.
maybe something like "The winners' txs are forwarded to the blockchain, being first routed through an Express Relay entrypoint smart contract that enforces the payment of the bid."
| In the status quo (left), Searchers tip miners in order to guarantee that their liquidation transaction lands on-chain. | ||
| Their transaction directly interacts with the protocol exposing the liquidation opportunity, and the liquidation bonus flows back to the Searcher. | ||
| With Express Relay (right), Searchers submit bids for their transaction to the Express Relay auction. |
There was a problem hiding this comment.
This feels a bit repetitive to the above para, maybe just put the image above that one and combine the two paras?
| The Express Relay Entrypoint collects payment from the Searchers and forwards a share of the revenue back to the integrated protocol. | ||
|
|
||
| FIXME: I think the diagram is wrong (specifically the liquidation bonus going back to express relay) |
There was a problem hiding this comment.
the diagram is wrong, good catch. we should correct this in the final version
| ## Which protocols can use Express Relay? | ||
|
|
||
| Any protocol with permissionless and valuable operations can use Express Relay. |
There was a problem hiding this comment.
same point about "permissionless"
|
|
||
| Any protocol with permissionless and valuable operations can use Express Relay. | ||
| These operations generate MEV, as the validators control which searchers can access them. |
There was a problem hiding this comment.
These two sentences can be rewritten as "Any protocol exposing valuable operations that generate MEV "opportunities" can use Express Relay
I'm out of time right now but here's where I got so far. Main suggestion is to move the explanatory content to the "How Express Relay" works header section and then put in some big CTA buttons on the index page that get people to the integration content. I don't actually know how to put in a button but will figure it out later.
Wanted to send this as a PR though to see if you agree with this organization.
Please merge this if you're happy with it