Hey everyone,
Been running a liquidation bot on Venus for a while now and wanted to raise a serious safety issue.
Since the SVR/OEV integration went live, I’ve been trying to figure out how to participate as an external solver. Spent days going through docs, discord, github… basically nothing is up to date. The FastLane relay repo is archived, the solver documentation doesn’t exist for BSC, and the Chainlink SVR searcher guide only covers Ethereum via Flashbots MEV-Share which doesn’t even run on BSC.
As far as I can tell, Chainlink is the only entity currently able to submit OEV bundles on BSC. Every other liquidator is either already shut off or completely locked out of the OEV flow.
I get that OEV is good for the protocol in theory. But having a single liquidator with exclusive access is dangerous. We’ve seen this with other protocols when the one entity responsible for liquidations has an outage, technical issue, or just decides a position isn’t worth the gas, bad debt happens. Competition between liquidators is what makes the system robust. And now there isn’t any.
Can the team or anyone from Chainlink share:
- Is there a public relay endpoint for external solvers on BSC?
- Is there documentation for how to submit OEV bundles as a third-party?
- If external solvers aren’t supported yet, when will they be?
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Hey Jose!
The Chainlink SVR system that Venus uses is open to any searcher to onboard. You can see on chain that at least 6 different searchers have successfully placed bids! We also do not run a searcher ourselves as that would indeed be a centralization risk and possibly crowd out our searcher community.
If you are interested in onboarding as a searcher, feel free to reach out to [email protected].
Docs will be published in the coming weeks!
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I will reach out, thanks.
However, my point still stands that if the doc is not published and searchers need to reach out to your personal email to gain access, this is still an insiders’ game and nothing like the permissionless mechanism it is marketed as.
As for chainlink not participating, why is it that Venus had to whitelist a “Chainlink-operated address” for “OEV-enabled liquidations” in this proposal? Venus Protocol
Hey Jose,
I can assure you there is nothing permissioned here and I provided the onboarding docs to almost a dozen searchers over the weekend. We have now also published the docs on our SVR page right here so you can start onboarding without contacting the team!
the “Chainlink OEV Searcher” mentioned there is not an address owned, controlled or deployed by Chainlink, it is an OEV Searcher active on Chainlink SVR. Chainlink Labs has not and does not run a searcher on SVR as that would be unfair competition for the rest of the searcher community. We are very proud of the diversity of our searcher ecosystem and take fair play very seriously.
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