Project: Keeper Bots on Polynomial Chain

This program is open for multiple operators - just need to register on the form

Introduction

Decentralized exchanges (DEXs) are the backbone of DeFi, providing traders with permissionless access to markets. DEXs rely on automated market participants called "keepers" to maintain their operational integrity.

PolynomialFi seeks contributors to run keeper bots on Polynomial Chain to aid in order execution.

What are Keepers?

Keepers are programs that monitor and interact with smart contracts to perform necessary maintenance operations. On Polynomial, keepers serve two primary functions:

1. Order Settlement: keepers fetch off-chain price data from Pyth and execute trades on behalf of users. They ensure orders are filled at fair market prices and maintain the efficiency of the trading system.
2. Liquidation Management: keepers monitor positions for under-collateralization and execute liquidations when necessary to maintain the exchange's solvency and protect the system from bad debt.

Why are Keepers Needed?

Keepers form a crucial decentralized infrastructure layer that:

• Ensures 24/7 market operations without manual intervention
• Maintains market stability through timely liquidations
• Protects user interests by ensuring timely order execution
• Provides redundancy through multiple independent operators

Scope of Work & Resources

Perps markets rely on keepers to fetch offchain price data to fill orders and liquidate accounts.

Please refer to Polynomial Docs where we outline how to setup keeper bots.

Grant Criteria

Reward Pool