Executors

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Evolution of MODULAR interoperability

Executors are off-chain agents acting as market makers that fulfil cross-chain orders, earning fees and rewards. Set how much you want to yield and your own personal AMM makes it happen out of the box.

How it works

Order

A user enters their desired swap intent, registered directly on the t3rn protocol, allowing Executors to start the bidding process to execute the cross-chain swap.

Bidding

Executors engage in a seamless, automated bidding process, each submitting their bid to provide users with cross-chain swap executions.

Bidding

Executors engage in a seamless, automated bidding process, each submitting their bid to provide users with cross-chain swap executions

Execution

The best bid will execute the swap, once the cross-chain execution is finalised, the Executor receives the payment as well as rewards.

t3rn is building an expressive protocol for generalizable function calls across different chains – an ambitious undertaking that will unlock new behaviors for crypto builders and users.

Ben Perszyk, Partner at Polychain

FAQs

Who are t3rn Executors?

Executors are key participants in the t3rn ecosystem who execute transactions on behalf of users, verify their execution on the target chain, and earn rewards for their services.

What is the role of an Executor in the t3rn ecosystem?

Executors are responsible for executing transactions, balancing their funds across multiple chains, and competing with other Executors to provide efficient fees for users. They generate yield by executing these transactions and verifying their execution on the target chain.

What incentives do Executors receive?

Executors earn rewards for executing transactions. These rewards are based on the value each executor has transferred cross-chain and the speed of confirmation. Additionally, having more liquidity available on the target chain they operate on is also incentivized.

How does the Execution Lifecycle work for Executors?

The Execution Lifecycle consists of three stages: Bidding, Execution, and Finalization. Executors bid for a specific Side Effect (SFX) they want to execute during the Bidding stage. The Execution stage involves the winning Executors executing the SFXs. The Finalization stage, relevant for escrowed side effects, is required to unlock the funds on the target.

What is the role of Attesters in relation to Executors?

Attesters are network participants who authorize unlock transactions in the target escrow contract. They are crucial for the finalization stage of the Execution Lifecycle, where they help unlock the funds from the escrow contract.

What kind of support do you offer for Executors?

We offer comprehensive documentation, community support, and direct assistance to help Executors understand and navigate the t3rn ecosystem effectively.

FAQs

What incentives and rewards do Executors receive?

Executors earn rewards based on the value transferred cross-chain and transaction confirmation speed. Incentives are also aligned with maintaining higher liquidity on the target chains they operate on, ensuring an efficient and responsive ecosystem.

What is the role of an Executor in the t3rn ecosystem?

Executors are crucial participants who execute transactions on behalf of users, verify their execution on the target chain, and earn rewards for their services. They manage funds across multiple chains, compete to offer efficient fees and generate yield through successful transaction execution and verification.

How does the bidding system work for Executors?

Executors participate in a bidding process where they place bids to execute orders, aiming to provide the best deal for users, often the lowest bid. This system allows executors to specialize in specific chains and assets, enhancing the profitability and efficiency of cross-chain transactions.

How are rewards allocated and distributed within the t3rn ecosystem?

A portion of the token supply is designated for rewards, with additional allocations for strategic initiatives aimed at incentivizing executors, promoting diversity among executors and assets, and subsidizing user fees.

How are off-chain prices determined, and is customization possible?

Prices are primarily sourced from CoinGecko, but customization is flexible. The system can integrate price combiners and cross-reference with other extensions for enhanced security and accuracy in pricing.

What is the gas requirement for local-to-local transactions?

In scenarios where the source and target chains are the same, the gas requirement is approximately 60k for ERC-20 tokens and 70k for users, which is significantly lower than other platforms, improving efficiency and cost-effectiveness.

What are the key risks for Executors?

Executors should be aware of risks such as reverted transactions, asset price fluctuations, potential collusion among attestors (in escrow scenarios), and the occurrence of impossible side effects. Additionally, failure to confirm transactions before a timeout can lead to re-execution, posing a risk to executors.

Are there plans for financial support programs for Executors or Validators?

Yes, there are plans to introduce programs such as delegation grants or loan programs shortly after the product launch. These initiatives aim to incentivize executors, encourage diversity, and reduce user fees, contributing to the overall health and growth of the ecosystem.