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@acanidio-econ acanidio-econ commented May 26, 2025

I removed the description of the batch auction and instead now discuss the fair combinatorial auction.

Note the following:

  • we didn't have a specific page where we described the batch auction, and I kept this same structure. However, given that the fair combinatorial auction is more complex, we may want to consider creating a dedicated page for it
  • I don't explain the specific algorithm we use to select winners, and instead, I provide a link to the CIP. In my opinion, we could discuss the winner selection algorithm if we introduce a specific page in the docs dedicated to the fair combinatorial auction but not in the current structure.
  • I kept the discussion about EBBO since, technically, it is still a rule

Description

Changes

  • ...
  • ...

Summary by CodeRabbit

  • Documentation
    • Updated the competition rules to introduce "Uniform Directional Clearing Prices (UDCP)" with new guidelines for order pricing and exceptions for certain orders.
    • Expanded the description of the auction process, including details on scoring, ranking, bid selection, and reward mechanisms.
    • Clarified rules on deadlines, penalties, internalization, slippage, and governance enforcement for solvers.

I removed the description of the batch auction and instead now discuss the fair combinatorial auction.

Note the following:
- we didn't have a specific page where we described the batch auction, and I kept this same structure. However, given that the fair combinatorial auction is more complex, then we may want to consider creating a dedicated page for it
- I don't explain the specific algorithm we use to select winners, and instead I just provide a link to the CIP (in my mind, whether we do want to discuss the winner selection algorithm depends on whether we want to introduce a specific page in the docs dedicated to the fair combinatorial auction)
- I kept the discussion about EBBO since, technically, it is still a rule
@acanidio-econ acanidio-econ requested a review from a team as a code owner May 26, 2025 09:27
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coderabbitai bot commented May 26, 2025

Walkthrough

The documentation for the off-chain protocol's auction competition rules has been updated. The uniform clearing price rule is replaced with a uniform directional clearing price (UDCP) rule. The auction process, scoring, bid selection, penalties, reward mechanisms, and governance enforcement are now described in greater detail, referencing relevant CIP proposals.

Changes

File(s) Change Summary
docs/cow-protocol/reference/core/auctions/competition_rules.md Replaced UCP with UDCP, expanded auction process details, added rules on penalties and rewards, clarified governance enforcement.

Poem

In the meadow of docs, new rules take their place,
UDCP leads the auction race.
Bids are scored, rewards are won,
Penalties await those who shun.
With every hop, the rules grow clear—
Rabbits rejoice, for fair trades are near!
🐇✨


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Actionable comments posted: 0

🧹 Nitpick comments (2)
docs/cow-protocol/reference/core/auctions/competition_rules.md (2)

23-23: Refine grammar in auction description
The phrase “is chosen using a Fair Combinatorial Auction” can be made more natural. For example:

- The set of winning solutions (and corresponding winning solvers) is chosen using a Fair Combinatorial Auction (see [CIP-67](…)).
+ The set of winning solutions (and corresponding winning solvers) is selected using a Fair Combinatorial Auction (see [CIP-67](…)).
🧰 Tools
🪛 LanguageTool

[grammar] ~23-~23: If ‘chosen’ is used as a verb, it usually requires the infinitive.
Context: ...orresponding winning solvers) is chosen using a Fair Combinatorial Auction (see [CIP-...

(AFFORD_VBG)


23-25: Consider extracting detailed logic to its own page
This high-level summary of the Fair Combinatorial Auction is quite detailed and may overwhelm the main rules page. Splitting it into a dedicated fair-combinatorial-auction.md reference and linking to it here could improve readability and maintainability.

🧰 Tools
🪛 LanguageTool

[grammar] ~23-~23: If ‘chosen’ is used as a verb, it usually requires the infinitive.
Context: ...orresponding winning solvers) is chosen using a Fair Combinatorial Auction (see [CIP-...

(AFFORD_VBG)

📜 Review details

Configuration used: CodeRabbit UI
Review profile: CHILL
Plan: Pro

📥 Commits

Reviewing files that changed from the base of the PR and between 97265be and ca2ab05.

📒 Files selected for processing (1)
  • docs/cow-protocol/reference/core/auctions/competition_rules.md (1 hunks)
🧰 Additional context used
🪛 LanguageTool
docs/cow-protocol/reference/core/auctions/competition_rules.md

[grammar] ~23-~23: If ‘chosen’ is used as a verb, it usually requires the infinitive.
Context: ...orresponding winning solvers) is chosen using a Fair Combinatorial Auction (see [CIP-...

(AFFORD_VBG)

🔇 Additional comments (2)
docs/cow-protocol/reference/core/auctions/competition_rules.md (2)

21-21: UDCP rule insertion looks good
The new Uniform Directional Clearing Prices (UDCP) rule clearly replaces the old UCP description and properly highlights the per-solution constraint and hook exception.


21-21: Verify UDCP reference
Consider adding a direct link to the CIP or specification that formally defines “Uniform Directional Clearing Prices (UDCP)” so that readers unfamiliar with the term can find the authoritative source.

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looks good

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4 participants