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doc: fix formatting of 'unfair' in auction documentation 💅 #554
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@glokos is attempting to deploy a commit to the cow Team on Vercel. A member of the Team first needs to authorize it. |
WalkthroughUpdated a single documentation page to reword the auction flow: it now states that unfair batched bids are removed first (those worse than a regular single bid), then a bid mix is selected to maximize total value within computational limits; also made minor wording adjustments to the introductory paragraph. Changes
Sequence Diagram(s)sequenceDiagram
participant Client as Intent Collector
participant Doc as Auction Docs (flow)
participant Filter as Unfair-Bid Filter
participant Solver as Solver / Search
participant Output as Winning Mix
Note over Client,Doc: intents collected and auction described
Client->>Doc: submit intents
Doc->>Filter: evaluate batched bids
alt Batched bid worse than single
Filter->>Filter: mark as unfair (remove)
else Batched bid acceptable
Filter->>Solver: pass to solver
end
Filter->>Solver: pass remaining bids
Solver->>Solver: search/select bid mix (maximize total value within limits)
Solver->>Output: produce winning mix
Note over Output: results returned/presented
Estimated code review effort🎯 1 (Trivial) | ⏱️ ~3 minutes
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docs/cow-protocol/concepts/introduction/fair-combinatorial-auction.md
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suggested an improvement
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Could you have a look, @acanidio-econ? With this PR, we move away from using technical terms.
But maybe it is not so bad in this first paragraph on fair combinatorial auctions. |
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"non-batched bid" -> "regular, single bid" |
| CoW Protocol collects and aggregates [intents](./intents) off-chain and auctions them off to [solvers](./solvers). The auction is combinatorial because each solver can submit multiple bids. A solver can submit multiple bids on individual orders, in which case each "bid" represents the best price this solver can provide to an individual order. However, a solver can also submit "batched" bids, that is, bids on groups of orders. | ||
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| The protocol filters out ``unfair'' batched bids, which are those delivering less to an order than some available "non-batched" bids. It then selects the combination of winning bids that maximizes the surplus received by the orders that are part of the auction (subject to some computational constraints due to the combinatorial nature of the problem). | ||
| The protocol removes any "unfair" batched bids - ones that would give an order a worse outcome than a regular, single bid. Then, from the remaining options, it picks the mix of bids that gives traders the most total value possible, while staying within the system's computational limits. |
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Would this work?
| The protocol removes any "unfair" batched bids - ones that would give an order a worse outcome than a regular, single bid. Then, from the remaining options, it picks the mix of bids that gives traders the most total value possible, while staying within the system's computational limits. | |
| The protocol removes any "unfair" batched bids - ones that would give an order a worse outcome than some reference bid. Then, from the remaining options, it picks the mix of bids that gives traders the most total value possible, while staying within the system's computational limits. |
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the previous paragraph talks about "bid on individual orders" (which is not 100% correct but I guess it is fine here). So how about: "The protocol removes any "unfair" batched bids - ones that would give an order a worse outcome than an available bid on only that order"
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"The protocol removes any "unfair" batched bids - ones that would give an order a worse outcome than a reference bid. In most cases, the reference bid for an order is simply the best available bid containing only that order (for the general case, see [with the correct reference to the more technical explanation]"
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