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Oval Integration in Sepolia with Flashbots: End-to-End Workflow Example

Overview

This README outlines the process of demonstrating a complete Oval workflow on the Sepolia test network using Flashbots. It includes monitoring a Price Feed update, participating in Oval auctions, and executing liquidations. The example also provides numerical demonstrations of profit realization by the searcher and the protocol's earnings from liquidation proceeds.

Running the Sample Flashbots Integration on Sepolia

Node.js Version Compatibility

Use Node.js version 18.14.2 or 18.X for optimal compatibility with Flashbots TypeScript libraries. Note: Event subscriptions may not function correctly with Node.js version 20.X.

Prerequisites

To proceed with this demonstration, ensure you have:

  • Wallet with Private Key: If deploying on Sepolia, you can fund your wallet here, here or here.
  • Foundry Installation: Install Foundry from here.
  • Sepolia RPC URL: Use Infura or similar services.
  • Etherscan API Key for Sepolia: Optional, obtainable here.

Setup

Clone the Oval Quickstart repository and build the contracts:

git clone https://github.com/UMAprotocol/oval-quickstart.git
cd oval-quickstart
forge install
forge build

Execution Steps

  1. Deploy the Demo Contracts: Run the following command in the root folder of the oval-quickstart repository:
forge script ./src/liquidation-demo/script/OvalLiquidationDemo.s.sol:OvalLiquidationDemoScript \
--rpc-url https://sepolia.infura.io/v3/<YOUR-INFURA-KEY> \
--private-key <YOUR-PRIVATE-KEY> \
--broadcast \
--verify \
--etherscan-api-key <YOUR-ETHERSCAN-API-KEY>
  1. Run the Liquidation Script with Flashbots on Sepolia: Fill in the contract addresses and necessary keys in a .env file as shown in /liquidation-demo-flashbots/.env.example:
NODE_URL_11155111=https://sepolia.infura.io/v3/<YOUR-INFURA-KEY>
CHAIN_ID=11155111
PRIVATE_KEY=<YOUR-PRIVATE-KEY> # Ensure you have some ETH in Sepolia for testing
OVAL_LIQUIDATION_DEMO_PRICE_FEED_ADDRESS=<YOUR-PRICE-FEED-ADDRESS>
CHAINLINK_OVAL_IMMUTABLE_ADDRESS=<YOUR-OVAL-ADDRESS>
OVAL_LIQUIDATION_DEMO_ADDRESS=<YOUR-LIQUIDATION-DEMO-ADDRESS>
PAY_BUILDER_ADDRESS=<YOUR-PAY-BUILDER-ADDRESS>

Then run the liquidation demo script from the /liquidation-demo-flashbots folder in oval-quickstart:

cd liquidation-demo-flashbots
yarn install && yarn build 
yarn start