Leverage deployed gnosis auction vs fork

[RusseII]

Interaction with Gnosis Auction

Options

We have three main options on how to interface with Gnosis auction

1. Use the contract as-is from the deployed address (recommended)
2. Fork the contract and redeploy without changing the source code
3. Fork and edit source code for a custom use case

Use the contract as-is from the deployed address (recommended)

• More trust from users - they can see there's been over 30k transactions to this contract.
• Users are confident that the auction code has not been modified & has the same level of security as the original
• We can interact directly with both their testnet + mainnet deployments without any deployment overhead.
• Technically gnosis auction has the ability to add a fee - but two separate developers said they will not be.
• Possibility for us to use their subgraph instead of implementing it ourselves.
• Our auctions will show up in Gnosis auction UI.
• Recommended path from Peteris.

Fork the contract and redeploy without changing the source code

• No quick way for users to tell that this fork has not been modified.
• Redeploying the contract would cost 5m gas (.5 eth @ 100gwei).
• Our auctions would not show up in Gnosis UI.
• All porter data would be isolated.

Fork and edit source code for a custom use case

Add's more auditing overhead, protocol risk, and complexity. Avoid if possible.

Questions

If we want to take some sort of fee for facilitating or send a fee to the Sherpa, how would we do that?

There are a few different ways we can handle this:

1. Take a certain number of the bonds after they have been created. These can either be sent to the porter treasury or distributed to sherpas. In the current implementation - the entity that creates the bond (broker contract) would be sent all of the bonds after creating them. The broker contract could keep 3% of the bonds and then send the other 97% of the bonds to the borrower.
2. Take a certain % of the borrowing tokens or bonds after a successful auction. If we initiate the auction from our Broker - it will be the auctioneer. It would receive the borrowingToken upon the settlement of the auction and could keep 2% them and send the rest to the borrower (recommended)

@Namaskar-1F64F please correct me if I missed anything

[jordanalexandermeyer]

Interesting, the fee for Gnosis auction is paid in the token the auctioneer is selling, not the bidding token:
https://github.com/gnosis/ido-contracts/blob/598c67117ed3e144bce3dc5147765aa2545f2623/contracts/EasyAuction.sol#L679

[Namaskar-1F64F]

agree with auction recommendation.

[RusseII]

@jordanalexandermeyer FYI