Bot Titles
PLS-REDEEM-ARB-V1Performance So Far
PLS-REDEEM-ARB-V1Recent Fire Attempts
PLS-REDEEM-ARB-V1Token Reverters (24h)
PLS-REDEEM-ARB-V1Biggest Block
PLS-REDEEM-ARB-V1Biggest block (2026-07-04): the edge itself is thin by protocol design — and the wallet is unfunded. Redemptions pay face value minus a fee floored at 0.5%, so USDL must trade more than (0.5% + margin) under $1 before the round trip nets anything; USDL has sat at ~$1.00 since deploy (best observed edge ≈ −0.4%). The 0.5% floor absorbs most typical depegs, so this is an opportunistic accumulate-PLS-at-a-discount tool for depeg regimes, not a steady earner. It also needs USDL inventory to act (dedicated wallet 0x5Ab7…079d, currently empty) — the bot now sizes to whatever the wallet holds (2026-07-04 review fix; previously a wallet funded below the 50K cap could never fire).
Fantasy
PLS-REDEEM-ARB-V1If we had some way to instantly remove this bot's biggest constraint — capital, latency, signal coverage, or counterparty risk — what would the world look like? (Pending creative assessment.)
Suggestions for Improvement
PLS-REDEEM-ARB-V1Conclusion
PLS-REDEEM-ARB-V1Verdict (2026-07-04, build + same-day review): mechanically sound, economically thin — keep in shadow until a depeg regime appears. The full Liquity redemption mechanic is correctly implemented (canonical hint chain getRedemptionHints → getApproxHint(15√n trials) → findInsertPosition; maxFeePercentage=1% reverts if the fee spikes before inclusion; estimateGas gates the send; sizing follows wallet inventory after the review fix). But the protocol's 0.5% fee floor eats most of a typical under-peg move, and USDL has held ~$1.00 since deploy — best observed edge was negative. This is an opportunistic tool that converts a real depeg into PLS bought below face, with the worst case being holding that PLS; it is not a steady earner and should not be funded as one.