Hello everyone, Raoul from Chainlink Labs. These past two weeks, due to low market volatility, there were very few liquidations on SVR-activated markets, which is reflected in the fact that no OEV recapture events occurred. This is expected behavior for SVR during low volatility when liquidations are infrequent and small, and thereby minimally profitable for searchers. Over the past two weeks there have been 4 liquidations on SVR-activated markets of which 3 paid out less than $15 in liquidation bonus.
Additional updates on Chainlink SVR:
- @bgdlabs published a proposal to activate additional SVR feeds on Aave Ethereum, which would increase SVR coverage from ~5% to ~28% of Aave’s TVL on Ethereum. The Aave <> Chainlink SVR Phase 2 activation vote will start on May 8.
- We have continued to onboard additional searchers to SVR, including another major market maker, to increase recapture rates. The activation of SVR on more markets will make SVR more attractive to integrate by searchers.
- The open-source SVR-compatible searcher bot is in the testing stages of development.