program: add liquidation via fill #1106
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0xbigz
reviewed
Jun 20, 2024
| makers_and_referrer_stats, | ||
| slot, | ||
| )?; | ||
| // no referrer bonus for liquidations |
wphan
reviewed
Jun 21, 2024
| market_index, | ||
| existing_direction, | ||
| base_asset_amount, | ||
| oracle_price, |
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Is it possible for this exhibit some auction behavior instead of deriving an order based on oracle_price? Something like "if the user has been in liquidation for x slots, make the order more aggressive by y bps (or in price terms)"
Calculating the effective liq price on oracle_price + liquidator_fee has the downside of favoring short liqs (buy to close) when oracle_price > drift_mark and favoring long liqs when oracle_price < drift_mark. Which is most problematic if all makers and the AMM are quoting wider (or AMM is unavailable) than oracle_price + liquidator_fee.
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think this is a good follow up todo after merging this version
0xbigz
reviewed
Jul 24, 2024
0xbigz
reviewed
Jul 24, 2024
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