Bidders need to deposit funds to be able to place bids on the mev-commit network. As bids are posted privately, providers cannot determine how much bidders have bid to other providers for the relevant L1 block. To ensure that bidders can cover all their bids, we bind deposits to specific providers. Providers can thus ensure that bids from a given bidder do not exceed the amount deposited for them. It is important to note that if a bidder deposits, for example, 1 ETH for every provider, they can still only post bids totaling 1 ETH for a given block. This is because only a single provider can post the block to L1, meaning bids made to other providers will not be executed. Deposited funds can be withdrawn by the bidder at any time, after waiting the ~10 minute cooldown period.

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Deposit Manager

It’s recommended that bidders leverage the deposit manager to deposit, and automate ongoing re-deposits to specific providers. The deposit manager is an on-chain contract that a bidder account can enable by “setting their code” to the implementation using EIP-7702. After enabling the deposit manager, a bidder’s deposits are automatically replenished from the bidder’s EOA balance during the preconf settlement process, according to target deposit amounts configured by the bidder. A target deposit is the desired amount of funds that a bidder wants to be deposited for a specific provider. Bidders should set this to the maximum cumulative amount of ETH they would ever bid to a provider with respect to a single L1 block.