[Proposal] Reduce minKeep on Keep3rV1Oracle to 0

Summary:

Reduce the minKeep on Keep3rV1Oracle from 200 to 0

Motivation:

Allow more keepers to get involved, allowing the ecosystem to expand. Right now there seems to only be 1 keeper working the job.

For: Reduce minKeep on Keep3rV1Oracle to 0
Against: Keep minKeep on Keep3rV1Oracle at 200

  • For
  • Against

0 voters

This job is also the most workable job as far as I can tell (once every 15 minutes). All the other ones seem to only be workable once every couple of hours or less. Without this option I think it would be hard for any newcomer to try to do jobs. I would think that it would be a priority to get more community involvement.

@andre.cronje Any thoughts about this? What was the motivation behind setting minKeep to 200?

Jobs set their own minimum criteria, it is not system wide. The Oracle is manipulation sensitive, so a minimum bond is required to ensure the security of the oracle. If it is set to 0 and there is a malicious actor, there is no bond to slash in even of damages.

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Isn’t the earned KP3R bonded? That gives you a 2 week window to identify and slash those funds in case of a malicious act. Is there some other type of security risk I’m not understanding?

This might be another topic, but the system seems to heavily favor actors with wealth. They can do the most work and also earn the most due to the bonded bonus. Why not favor those who are willing to stay bonded longer? This would allow more people to get involved and incentivize hodling.

Isn’t this job being fulfilled by 1 KPR who is always losing money… I mean it wouldn’t make sense honestly to do anything about it… maybe not too healthy for the eco-system thought… but can’t do much about it… Lowering the threshold could help, in case this guy decides to bail on the job

You’re right about the job not being profitable overall, but there are many transactions that are profitable. A smarter bot may be able to compete for the profitable transactions and let the other ones go. I’ve actually seen some transactions from that same address that spent a gas price 10x of what it should have, so there seems to be some bugs in that bot.

I see now that this job converts the KP3R earned directly to WETH so the keeper earns WETH on this, which bypasses the 2 week unbonding period that should be used as a security mechanism. @andre.cronje What was the rationale behind straying from the standard of compensating in KP3R? If this job was paid in KP3R we could remove the minKeep and allow more people to get involved and still have the security, correct?

well the capital risk you know… so people wouldn’t setup bots to do keeping unless they get compensated for the keeping task… So bare minimum guarantee the tx cost + add a reward is good combination