Auction Approver

The Auction Approver is responsible for configuring auctions for execution.

Expected Actor

The same DAO that acts as the Admin should also take on the role of Auction Approver, and the default deployment configuration in Register is exactly this.

However, having the Auction Approver as a separate role gives the Admin the optionality to permission a smaller set of trusted actors to approve auctions. This would allow the DTF to move faster on basket changes, but comes with the added risk of the DTF being considered a security (due to the nature of the asset selection being managed by a small group of permissioned actors) and mint access being geo-blocked on Register.

Abilities

• Configure an auction for execution. Each auction has the following parameters at approval:
  • Sell Token: the token to be sold by the DTF
  • Buy Token: the token to be bought by the DTF
  • Expected Volatility: the amount of price movement that is expected in the Sell Token:Buy Token pairing. The Auction Approver can select between 3 options: Low, Medium, and High. This setting will determine what values get set for the pricing parameters and the buy and sell limits.
  • Time To Live: How long (in seconds) an auction can exist in an APPROVED state until it can no longer be opened. This value must be longer than the DTF-configured Auction Delay if the auction is intended to be permissionlessly available.