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Julia
@jeez
Key Actors Within the ASS System 🧵
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Julia
@jeez
How ASS works: Apps integrate with @atlasevm → Auction the right to backrun txs → Atlas Backruns allow solvers to backrun txs → Solvers with the most profitable outcomes win → Incentive alignment: value extracted is redistributed to the actors. But who are the actors here?
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Julia
@jeez
1. Originators: they initiate transactions from the app’s frontend. In most cases, originators are users, but this role can be delegated to an entity. These are 4337 txs and are referred to as “UserOps,” short for UserOperations.”
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Julia
@jeez
2. Solvers: they backrun users' txs by placing bids (called SolverOps, short for SolverOperations). Solvers compete in auctions to backrun txns. The solver with the highest profit-generating outcome wins & gets to backrun. Value extracted is shared.
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Julia
@jeez
3. Auctioneers: they facilitate auctions in which solvers submit bids. They collect the bids and assess them with the UserOps to determine the bid with the highest potential profit. They choose the winning bid (i.e., choose the particular solver that’ll backrun the UserOp).
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Julia
@jeez
4. Relays: or Operation Relay (OR) is the link between originators, solvers, auctioneers, & bundlers. > collect UserOps & SolverOps, send to auctioneer > once the winning bid is selected, the relay submits both the UserOp & the corresponding winning SolverOp to the bundler.
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