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Setting Up An Underwriter

Before setting up an underwriter, ensure that you are fully aware of the associated risks and have read the associated underwriter README.

For this guide, it is assumed that you are running a relayer and have gone through the associated setup and fulfill all of the requirements for running a relayer. If the relayer isn’t working, getting bountes, collecting proofs, or submitting transactions you should try to fix those issues before running an underwriter.

It is assumed that the underwriter is running on the same VPS as the relayer AND the folder name of the relayer is ~/generalised-relayer

Installing the Underwriter Module

To install the underwrtier, pull the catalyst-underwriter repository.

Terminal window
git clone https://github.com/catalystdao/catalyst-underwriter.git
cd catalyst-underwriter

Similarly to the relayer, we need to make copies of the configuration files:

Terminal window
cp config.example.yaml config.production.yaml
cp .env.example .env

Once this has been done, we can go on to configuration.

Configuring the Underwriter

We need to edit config.production.yaml with the correct configuration values. Similarly to the relayer, we need to modify the privatekey (global.privateKey) and RPCs (chains.[chain].rpc).

Follow the tutorial for the relayer for these values.

Pools

Currently you have to specify explicitly which pools to underwrite. For testnet, leave them as the default.

Funding the Underwriter

The relayer requires 2 types of funding:

  1. Gas funding. We highly recommend filling it up with a slight excess. The underwriter will not get more gas as it is operating (unlike the relayer) and if it runs out of gas it will be unable to expire its underwriters if something goes wrong which may lead to loss of collateral.
  2. Underwrite capital. The underwriter requires assets which it can front for underwrites. For testnet, these are the respective wrapped assets. You can get these by wrapping on the Catalyst UI and sending them to the associated address.

Running the Underwriter

In the future, the underwriter will go through a graceful shutdown to ensure that all of its underwrites are monitored to completion. This reduces chances for loss of funds.

When everything has been set, assuming you are within the underwriter folder, ~/catalyst-underwriter, you can start the relayer by running:

Terminal window
docker compose up -d

You can access the log by running:

Terminal window
docker compose logs underwriter -fn 100

If you want to stop the underwriter you can run

Terminal window
docker compose stop

Updating the Underwriter

The underwriter is updated similarly to the relayer.

Terminal window
git pull
docker compose pull
docker-compose up -d

The commands does the following:

  • git pull collects relevant changes to scripts, configs, and other code changes. It is not needed if you continue using the existing config.
  • docker compose pull pulls the latest docker image. This will be applied after a restart.
  • docker-compose up -d restarts the underwriter and applies the latest docker image.