🎯Sniping
Sniping is its own style of trading, and really should only be utilized by advanced traders. Sniping with Consortium is the easiest and most effective way to do so!
Last updated
Sniping is its own style of trading, and really should only be utilized by advanced traders. Sniping with Consortium is the easiest and most effective way to do so!
Last updated
Sniping with Consortium is designed to be as easy as possible - saving you time and complexity when configuring it. Consortium's sniper is also powerful enough to beat any other sniper, depending on how you configure your settings (even ones with many users bundling their snipe).
(Note: beating bundled snipes with Phoebe IS possible, you simply need the right balance of good slippage and high bribe. Block Builders will do what is most profitable for themselves, so if they can fit you into a block before a bundle they will. If your slippage is high, they'll just put you after)
To configure a snipe with Phoebe, simply head to the Phoebe channel, and select the "snipe" button. After doing so, you will see the following menu:
To configure your snipe, simply fill out the fields within the task and click submit! Phoebe will do everything else for you, finding the methodID, monitoring the pair, and executing the snipe!
To see your configured snipes, simply head to the Phoebe channel and click on the "Sniper Tasks" button, and select your configured snipe - you will then be presented this menu:
From here, you can select from a range of options to edit your Snipe task. By clicking "2 Block", you can set the snipe task to only target Block 0 instead (meaning your snipe will only go through in Block 0 of trading, and wont still submit beyond that block). If you leave it configured for 2 Block, it will allow the sniper to still attempt to complete the snipe in the second block of trading - though it will get a worse fill if that happens.
You can also double check the deployer wallet for the target contract and change it if there is an issue/wrong one displayed there!
Besides that, there's nothing left to do but to wait! Configuration is designed to be as efficient and intuitive as possible, without sacrificing any speed or accuracy!
When sniping, it is important to note that it is extremely competitive, and in order to have your snipe be both successful and early, you will potentially need an insane amount of gas.
Depending on how hype/competitive the token is, you may need to use upwards of .1e+ bribe, or greater, to succeed and get a good fill. Slippage also plays a very important role when sniping; you need enough to allow the price to move, but not too much or you will be pushed to the back of the block.
eg. two snipe tx's are submitted with identical gas, but one has 75% slippage and the other has 250% slippage. In this case, block miners will accept both transactions but put the 250% slippage one later in the block than the 75% slippage one, to ensure that both fill. So while it might seem smart to use higher slippage, it can actually lead to getting a worse fill on your order.
