Auto GWEI

Auto GWEI is a feature that automatically adjusts the gas price (GWEI) for transactions based on network conditions. This is crucial for a market-making bot, as it ensures that trades are executed promptly without overpaying for gas fees.

▎How It Works

1. Monitor Network Conditions: The bot continuously monitors the Ethereum network for current gas prices.

2. Dynamic Adjustment: Based on the observed gas prices, the bot dynamically adjusts the GWEI it uses for transactions.

3. Transaction Priority: The bot can prioritize transactions by setting a higher GWEI during periods of high network congestion, ensuring that its trades are executed quickly.

4. Fallback Mechanism: If a transaction fails due to low gas prices, the bot can retry with an increased GWEI.

▎Benefits

• Cost Efficiency: Avoids overpaying for gas by adjusting to real-time conditions.

• Improved Execution Speed: Ensures that trades are executed in a timely manner, which is critical for market-making strategies.

• Reduced Failures: Minimizes failed transactions due to insufficient gas price settings.

▎Example Code

Below is an implementation of the Auto GWEI feature within a market-making bot using Python. This example assumes you have access to an Ethereum node (e.g., via Infura) and the web3.py library for interacting with the Ethereum blockchain.

▎Sample Code

import time import random from web3 import Web3

class AutoGWEI: def init(self, web3_instance): self.web3 = web3_instance self.current_gwei = 100 # Start with a default GWEI value

def fetch_current_gas_price(self):
    """Fetch the current gas price from the Ethereum network."""
    return self.web3.eth.gas_price  # Returns gas price in Wei

def adjust_gwei(self):
    """Adjust GWEI based on current network conditions."""
    current_gas_price = self.fetch_current_gas_price()
    self.current_gwei = Web3.fromWei(current_gas_price, 'gwei')
    print(f"Current GWEI adjusted to: {self.current_gwei:.2f}")

def get_gwei(self):
    """Get the current GWEI value."""
    return self.current_gwei

class MarketMakingBot: def init(self, trading_pair, wallets, min_trade_amount, max_trade_amount, web3_instance): self.trading_pair = trading_pair self.wallets = wallets # List of Wallet objects self.min_trade_amount = min_trade_amount self.max_trade_amount = max_trade_amount self.auto_gwei = AutoGWEI(web3_instance)

def get_random_trade_amount(self):
    """Generate a random trade amount within the defined range."""
    return random.uniform(self.min_trade_amount, self.max_trade_amount)

def select_wallet(self, trade_amount):
    """Select a wallet that has enough balance to execute the trade."""
    for wallet in self.wallets:
        if wallet.can_trade(trade_amount):
            return wallet
    return None

def place_trade(self):
    """Place a trade using a randomly selected wallet."""
    try:
        trade_amount = self.get_random_trade_amount()
        selected_wallet = self.select_wallet(trade_amount)

        if selected_wallet:
            # Adjust GWEI before placing the trade
            self.auto_gwei.adjust_gwei()
            gwei = self.auto_gwei.get_gwei()
            
            print(f"Placing Trade for {self.trading_pair}: Amount = {trade_amount:.2f}, GWEI = {gwei:.2f}")

            # Here you would add code to actually send a transaction using the selected wallet and gwei
            # For example: selected_wallet.execute_trade(trade_amount, gwei)

        else:
            print("No wallet has sufficient balance to execute the trade.")

    except Exception as e:
        print(f"Error placing trade for {self.trading_pair}: {e}")

def run(self):
    while True:
        self.place_trade()
        time.sleep(10)  # Check every 10 seconds

if name == "main": # Initialize Web3 connection (replace with your Infura or local node URL) web3_instance = Web3(Web3.HTTPProvider('YOUR_INFURA_OR_NODE_URL'))

trading_pair = 'ETH/USDT'
min_trade_amount = 0.1  # Minimum amount to buy (in ETH)
max_trade_amount = 1.0  # Maximum amount to buy (in ETH)

# Initialize wallets with IDs and balances
wallets = [
    Wallet(wallet_id='wallet_1', balance=2.0),
    Wallet(wallet_id='wallet_2', balance=1.5),
    Wallet(wallet_id='wallet_3', balance=0.5),
]

bot = MarketMakingBot(trading_pair, wallets, min_trade_amount, max_trade_amount, web3_instance)
bot.run()

▎Explanation of the Code

1. AutoGWEI Class:

   • Fetches the current gas price from the Ethereum network.

   • Adjusts the GWEI value based on real-time data.

2. Market Making Bot Class:

   • Integrates the AutoGWEI feature into its trading logic.

   • Before executing a trade, it adjusts the GWEI and retrieves the current value.

3. Trade Execution:

   • The place_trade method now includes logic to adjust GWEI before placing trades.

4. Running the Bot:

   • The bot runs in an infinite loop, placing trades while continuously monitoring and adjusting the GWEI.