Reference → OEV Network → Searchers → Argument Reference

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Argument and Constants

Proxy Address

dApps use a proxy address to read the latest data point from a dAPI. The API3 Market lists the proxy addresses for dAPIs across all chains.

Condition and Condition Value

The condition is the execution condition for the bid. Bids fulfill the condition when the latest off-chain data point from the dAPI satisfies the condition when compared to the condition value.

For example, if the condition is LTE (less than or equal to) and the condition value is 50000, the bid will be fulfilled if the latest off-chain data point from the dAPI is less than or equal to 50000.

bidTopic - Bytes32

The bidTopic is a constant value used by auctioneer to filter bids that pertain to a specific auctioneer instance. That is to say, different versions of the auctioneer will have different bid topics.

Currently, there is only a single auctioneer instance with bid topic 0x76302d70726f642d61756374696f6e6565720000000000000000000000000000

bidDetails - Bytes

The bidDetails are the encoded parameters for the bid. The parameters are proxy address, condition, condition value, updater address and a nonce.

const { AbiCoder, hexlify } = require('ethers');
const abiCoder = new AbiCoder();

const BID_CONDITIONS = [
  { onchainIndex: 0n, description: 'LTE' },
  { onchainIndex: 1n, description: 'GTE' },
];

const conditionValue = 50000;
const updaterAddress = '<searcher address doing the update>';
const condition = BID_CONDITIONS.find((c) => c.description === 'LTE');
const bidDetails = abiCoder.encode(
  ['address', 'uint256', 'int224', 'address', 'bytes32'],
  [
    proxyAddress,
    condition.onchainIndex,
    conditionValue,
    updaterAddress, // The address of the wallet that will update the data feed
    hexlify(randomBytes(32)), // Random nonce to differentiate bids
  ]
);

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