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Atlas Smart Contracts V1.0

Atlas is a permissionless and modular smart contract framework designed for Execution Abstraction. It empowers decentralized applications (DApps) and frontends by providing an auction system where Solvers compete to deliver optimal solutions for user intents and MEV redistribution. Utilizing the Atlas SDK, user operations are seamlessly collected and aggregated with Solver Operations into a single transaction, ensuring efficient and trustless execution.

Key Features​

Permissionless and Modular​

  • Open Access: Enables any developer to build and deploy DApps without centralized control.
  • Customizable Logic: Define application-specific behaviors via DAppControl contracts without needing upgrades or redeployments.

Auction-Based Execution​

  • Competitive Solvers: Solvers bid in auctions to provide the best execution solutions, optimizing for user intents and MEV redistribution.
  • Trust-Minimized Auctioneer: Frontends act as auctioneers in a trustless manner, ensuring the integrity of Solver operations.

Flexible Operations Relay​

  • Multiple Aggregation Methods: Supports BloXroute, SUAVE, on-chain, and cross-chain operations relays.
  • Infrastructure-Agnostic: Choose the preferred method for aggregating User and Solver Operations based on your infrastructure needs.

Execution Environment and Security​

  • Execution Environment (EE): Provides secure smart accounts, enhancing protection against allowance-based exploits.
  • Permit69: Allows Atlas to securely transfer funds on behalf of users and DApps with minimal approvals.

Gas Sponsorship and Flash Loans​

  • Gas Sponsorship (_contribute()): Sponsor transaction gas by donating ETH to the Atlas Escrow balance.
  • Flash Loans (_borrow()): Access flash loans from the Atlas Escrow balance, repayable within the same transaction.

Customizable MEV Allocation​

  • Flexible Distribution: DApp governance can define how MEV and other generated values are allocated, supporting scenarios like gas refunds, liquidity provider incentives, and governance token purchases.
  • Counteracting Private Orderflow: Allocates MEV before private relays or RPCs can access transaction data, mitigating centralization risks.

How It Works​

Atlas operates as a smart contract framework that abstracts the execution process for DApps, enabling a competitive environment where Solvers bid to execute user intents optimally. The workflow includes:

  1. User Operation Collection: The Atlas SDK integrated into a DApp's frontend collects user intents and generates User Operations.
  2. Bundling Operations: A designated bundler aggregates User Operations with competing Solver Operations into a single transaction.
  3. Auction Mechanism: Solvers participate in an auction to provide the best execution solution. The auctioneer (typically the frontend) ensures the integrity of Solver Operations by signing a DAppOperation that includes a CallChainHash.
  4. Transaction Execution: The bundled transaction is executed on-chain, where the Atlas smart contracts handle the allocation of MEV, gas payments, and any other app-specific logic defined in the DAppControl contract.
  5. Value Allocation: Post-execution, MEV and other generated values are distributed according to the DApp's governance rules, ensuring a customizable and trustless environment.

Advantages​

  • Exclusive MEV Access: Solvers have first access to value generated by User Operations, ensuring optimal execution beyond what wallets or relays can offer.
  • Trust-Minimized Governance: By acting as the auctioneer, governance mechanisms are self-trusting, eliminating reliance on external trusted parties.
  • Customizable MEV Allocation: DApp governance can define flexible MEV distribution strategies, enhancing protocol incentives and user benefits.
  • Enhanced Security: The Execution Environment provides robust protection against common smart contract exploits, safeguarding user funds.
  • Open Source Infrastructure: Encourages transparency and community collaboration through open-source contracts and frontend implementations.

Tradeoffs​

  • Higher Gas Costs: Atlas may consume more block space and incur higher gas costs compared to traditional MEV capture systems due to its comprehensive onchain verification processes.
  • Solver Gas Responsibility: Solvers are required to cover gas costs for failed operations, acting as a deterrent against DDoS attacks but increasing their operational costs.