Arbitrage Bot

[jeetraut]

Description

Build a bot which is able to arbitrage prices between a pool on Osmosis and a pool on the Agoric AMM.

To complete this bounty, you must demonstrate an off-chain bot which can make nearly simultaneous off-setting trades on the Agoric AMM and Osmosis DEX given a divergence in price.

Context

A goal of the Agoric AMM is to maintain prices that are inline with the external market. A tight coupling to external DEXes like Osmosis through arbitrage bots will help achieve this goal.

Acceptance Criteria

Approach validated by the Agoric team
Bot can recognize and act on a price deviation between its target pools simultaneously
Target pools are on unique L1 Cosmos chains connected by IBC (e.g., Agoric’s AMM and Osmosis)
Demonstration of arbitrage bot in local environment to the Agoric team

Time Estimation

3 weeks

Reward

$9,600

Payment will be made in USD (fiat currency) via wire transfer. The developer is responsible for providing their completed tax documents (W9 for US based developers and/or W8 or W8-BEN-E for non-US based developers) and providing their banking details in order to receive payment.

Applicant Assessment Criteria

Important: Please provide a clear workplan for how you will approach this bounty. Use the work plan as an initial demonstration that you would be a good candidate. Bounties will require coordination with the Agoric team, so unfortunately only plans submitted in English will be considered.

Applicants will be assessed based on the following criteria:

• Issue-specific domain experience
• Issue-specific technical capability
• Familiarity with Agoric's platform
• JavaScript experience
• Availability and communication

##Experience Write-up
As part of completing the bounty, we ask that you write up a short (or long!) summary of your experience building on Agoric. This is important feedback for us as we evolve the platform.

##Review Process
Agoric team reviews your submitted workplan on Gitcoin
It is best to join our Discord and post your gitcoin name in the bounties channel, so that we can follow up with you. Otherwise, we will write on your gitcoin profile wall and say hello!
Agoric contacts you to provide reference projects / sample code for engineering review
Introductory call to discuss your plans and expected timeline
You join the Agoric Discord bounties channel (if you haven’t done so already)
Agoric accepts you on Gitcoin and you get started!

References

Agoric.com/documentation
#bounties channel in Discord for general questions and your specific bounty channel for direct questions to the Agoric team

[gitcoinbot]

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

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Work has been started.

These users each claimed they can complete the work by 264 years, 7 months from now.
Please review their action plans below:

1) arnab11917676 has applied to start work (Funders only: approve worker | reject worker).

We are a group of web3 devs having expertise in building applications regarding web3 interaction. We saw your project and have figured out a plan to execute it with precision. We have been building a similar kind of product with the help of the rest API, Node.js and Python. We would really like to work with you if the opportunity is provided.
2) ckanyemba has applied to start work (Funders only: approve worker | reject worker).

I am experienced with arbitrage bots, and I have been working on the same project, and I would definitely completely on time.
3) keon has applied to start work (Funders only: approve worker | reject worker).

I have professional experience in building defi arbitrage bots at a arbitrage hedge fund.
I can make the bot efficient, scalable and resilient to failures.
I have professional experience in pricing systems such as bonding curve utilization or incentives pricing.
4) santakrosbom has applied to start work (Funders only: approve worker | reject worker).

agoric17sv2y69mxympe69vecpk8h7ahmk5tjmsfsn7pj
5) simpletrontdip has been approved to start work.

I have some experience with Agroic, this is an interesting project for me, so I come up with an initial idea:

• Build an Osmosis client to subscribe and watch an Osmosis pool, get updates
• Build an Agoric client to get the updates from Agoric AMM
• Build an Arbitrage Bot that handles changes, and finds the optimal strategy for trading upon the price differences. This bot will fetch updates periodically, can be configurable

Learn more on the Gitcoin Issue Details page.

[gitcoinbot]

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

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Work for 9600.0 USD (9598.08 USD @ $1.0/USD) has been submitted by:

1. @simpletrontdip

@jeetraut please take a look at the submitted work:

• PR by @simpletrontdip

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• $3,690,205.50 more funded OSS Work available on the Gitcoin Issue Explorer

[jeetraut]

Arbitrage bot demo video with Kenny and Thong

[dckc]

p.s. I (@dckc) suppose we reviewed e930481 from May 27, 2022
Current version is 49567c6 on Sep 14, 2022