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andreogle
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Tried to go through this in detail. Let me know what you think. Otherwise, nice work 👍🏻
| 1. **V2 Vault** — The user-facing vault where depositors supply USDC and receive vault shares. Configured with the Api3 role structure and governance controls described above. | ||
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| 2. **V1 Vault** — The intermediary vault that executes the actual market allocations. The V1 vault holds two allocators: | ||
| - The **Morpho Public Allocator**, which enables permissionless reallocation to improve liquidity across markets. |
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Maybe it's worth a quick sentence or two about what this does/how it works?
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It will be gone soon with the Morpho requirement to use v2 adapter directly, so not really worth it. It's also best to look into Morpho docs for this kind iof stuff anyway.
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Maybe worth asking Erich to have a look at this one?
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Yes, done in https://api3workspace.slack.com/archives/C0A70NN2WFQ/p1776264148887269 and the changes are already merged into this PR.
| Api3 facilitates OEV using two ways: | ||
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| 1. Private auctions performed via partnered searchers on non-delayed data. | ||
| 2. Searching using public Signed APIs on delayed data, open for anyone to participate. |
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I'm not sure that this is strictly "OEV", especially since that was described as only available to "partnered searchers". This is more MEV
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Both are OEV, because the value is extracted by utilizing the oracle updates. The MEV is misleading to both, because the miner is inconsequential for both of these.
What can be argued about is the word "auctions" as that is now a bit inaccurate, but the exact mechanics on how partnered searchers obtain the OEV signature is not important (and most importantly it can change), so I left it in.
| "format:check": "prettier --check --cache \"./**/*.{js,vue,md,json,yaml}\"", | ||
| "lint": "pnpm format:check", | ||
| "test": "vitest run", | ||
| "test": "vitest run --passWithNoTests", |
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I've removed the only test and the CI fails in that case. I didn't want to bother with removing vitest so I just let it pass without any test.
| The Api3 DAO Multisig holds the owner, curator, and allocator roles, consolidating governance and operational control under a single entity. | ||
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| The guardian role is operated by the Api3 monitoring team, who can revoke pending actions in case of misconfiguration. | ||
| The monitoring team also maintains an emergency fund for manual liquidations in the event that automated liquidation bots fail. |
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Should we mention about size of funds held or address of this account?
* Revise disclosure terms Updated the disclosure page to clarify Api3's limited role, responsibilities, and terms of service. * Revise roles and operations Updated the roles and operations documentation to reflect the Api3 Foundation Multisig as the holder of key roles and clarified the mission of the foundation. Adjusted language for clarity regarding the monitoring team's role and the emergency fund.
Co-authored-by: André Ogle <andreogle@users.noreply.github.com>
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Closes #292
Closes #295
Summary
Adds a new Curation section to the docs, covering Api3's role as a curator of USDC vaults on Morpho and cleans up the OEV docs given there is no OEV Network.
I think the current docs structure is decent and the addition of the "Curation" tab works well. I do not consider the curation content to be perfect nor complete, but it's a decent start. It's also going to change soon, because Morpho wants the V2 vaults to stop using v1 vaults as intermediaries, which affects our operations.
What's new
/curation/) — Intro to Api3 x Morpho, the skin-in-the-game thesis, yield source, the OEV competitive advantage, vault summary (Api3 Core, Kabu, Api3 dCOMP), and fee structure./curation/roles-and-operations) — Role table, two-layer V2→V1 vault architecture, allocation/rebalancing, monitoring stack, and liquidation handling./curation/risk-management) — Market selection criteria anchored to Api3's data feed listing policy, supply-cap methodology, and treasury-backed risk alignment./curation/disclosure) — Scope of curation, no-advice clause, risk factors, restricted jurisdictions, and limitation of liability. Links to the Api3 terms and conditions. Pending review from Erich.