Running on a Host

Running a debt auction keeper directly on a host

Prerequisites

Python 3.6+

Get RAI

Buy RAI from Uniswap v2 or open a SAFE and generate it.

Clone

git clone https://github.com/reflexer-labs/auction-keeper.git
cd auction-keeper
git submodule update --init --recursive

Install

This creates a virtual environment and installs all the keeper dependencies:

./install.sh

1) Start virtualenv

source _virtualenv/bin/activate

2) Modify model file as needed

A basic debt auction bidding model can be found in models/debt_model.py. This model retrieves the latest FLX/USD price from coingecko and will automatically place bids in an auction.

You probably want to modify the following variables in models/debt_model.py:

MAXIMUM_FLX_MULTIPLIER: The maximum acceptable FLX price to use when bidding. Default: 0.90 meaning the maximum price to pay when buying FLX(in RAI) is 90% of the current FLX/USD market price

MY_BID_DECREASE: The amount of bid decrease(in FLX) to make when outbidding another bidder. If value is less than the auction house' bidDecrease, then it will use the auction house setting. Example: A value of 1.10 will create bid decreases of 10%. Note: Current bidDecrease on mainnet is 1.03. Default: 1.03

Then:

chmod +x debt_model.py

For more information about bidding models, see Bidding Models

3) Modify keeper run file

Modify the following variables in run_debt_keeper_host.sh

KEEPER_ADDRESS - the keeper's address. It should be in checksummed format (not lowercase)

ETH_RPC_URL - the URL of your Ethereum RPC connection

KEYSTORE_DIR - the full path of the directory where your keystore file is

MODEL_DIR - the full path of directory where your debt_model.py file is

KEYSTORE_FILE - your Ethereum UTC JSON keystore filename

For more information about this keystore format and how to generate them, check:

GAS_MAXIMUM -maximum gas price, in GWEI

Then:

chmod +x run_debt_keeper_host.sh

4) Start the keeper and enter your keystore file password

./run_debt_keeper_host.sh

Debt Auction Output

Pop Debt from the Queue

If debt from collateral auctions still exists after AccountingEngine.pop_debt_delay(), the surplus auction-keeper will call popDebtFromQueue()

Settle Debt

Before starting a debt auction, the keeper will use any surplus to offset any existing debt. It does this by calling settleDebt()

Starting a Debt Auction

Finally, if debt still exists and is enough to start an auction, the auction-keeper will call auctionDebt

Full Log Output

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