Updated for new quote rewards according to CIP-88

docs/cow-protocol/reference/core/auctions/rewards.md

@@ -89,7 +89,6 @@ There is no guarantee that the per-auction rewards are greater than the costs of
 
 ### Consistency rewards
 
-
 With [CIP-85](https://snapshot.box/#/s:cow.eth/proposal/0xb488c343df3ba5f3857a4c7a920a74e18c13a2cdce99d27af34216803da6abff), the protocol introduced consistency rewards. These rewards are based on aggregate metrics evaluated over the full accounting week and are intended to incentivize consistent, reliable solver behavior, broad token coverage, and other aspects the core team considers important for maintaining healthy competition.
 
 Concretely, in each auction, solver $$i$$'s contribution to the consistency budget is
@@ -166,28 +165,34 @@ To summarize, truthfully revealing the (cost-adjusted) score that a solver can g
 
 Consistency rewards introduce an additional strategic dimension; since the consistency metric rewards competitive bids on executed market orders, solvers have an incentive to participate broadly across auctions with bids close to the winning one, even in cases where they do not expect to win the performance reward. At the same time, since bid quality is discounted by the settlement success rate, solvers should only submit bids they are prepared to settle. Executing out-of-market limit orders earns no consistency rewards; such executions are rewarded through performance rewards only.
 
-## Price estimation competition rewards (CIPs 27, 36, 57, 72)
+## Price estimation competition rewards (CIP 88)
 
 The price estimation competition is a separate competition where solvers provide the best response to a quote request. Quote requests look almost identical to single-order batch auctions, where there is only one order with a trivial limit price, and solvers propose executions of this order with the goal to maximize "out amount minus gas costs" in the case of a sell request, or minimize "in amount + gas costs" in the case of a buy request.
 
-As specified in [CIP-27](https://snapshot.org/#/cow.eth/proposal/0x64e061568e86e8d2eec344d4a892e4126172b992cabe59a0b24c51c4c7e6cc33), [CIP-36](https://snapshot.org/#/cow.eth/proposal/0x4e58f9c1208121c0e06282b5541b458bc8c8b76090263e25448848f3194df986) [CIP-57](https://snapshot.box/#/s:cow.eth/proposal/0x46d4fea1492207cf400fcb7a01141a7d4c730791d658cc77236941fc9eb7dccb), and [CIP-72](https://snapshot.box/#/s:cow.eth/proposal/0xc1b1252f0c99126b4e09730022faa31a7bb58073a3dc064c19b74d44164c39a7), a solver that provides the best quote to an order that is then submitted is rewarded if and only if all of the following conditions are satisfied:
+As specified in [CIP-88](https://snapshot.box/#/s:cow.eth/proposal/0x3fc7dc270f3e315e9bc2449bf9f5d0288046125f82b9b140b5866c2886fe71ac), quote rewards are paid from a dedicated budget targeting 10% of protocol revenue per chain, separate from the performance and consistency reward budget.
+This replaces the flat reward per eligible quote set by [CIP-27](https://snapshot.org/#/cow.eth/proposal/0x64e061568e86e8d2eec344d4a892e4126172b992cabe59a0b24c51c4c7e6cc33), [CIP-36](https://snapshot.org/#/cow.eth/proposal/0x4e58f9c1208121c0e06282b5541b458bc8c8b76090263e25448848f3194df986) [CIP-57](https://snapshot.box/#/s:cow.eth/proposal/0x46d4fea1492207cf400fcb7a01141a7d4c730791d658cc77236941fc9eb7dccb), and [CIP-72](https://snapshot.box/#/s:cow.eth/proposal/0xc1b1252f0c99126b4e09730022faa31a7bb58073a3dc064c19b74d44164c39a7), which no longer applies.
+The budget is computed for each accounting period, which runs weekly from Tuesday 00:00 UTC to the following Tuesday 00:00 UTC, as described in [accounting](/cow-protocol/reference/core/auctions/accounting).
+
+The orders in scope are in-market fill-or-kill orders executed during the accounting period.
+The budget is divided equally among them, giving each order $$o$$ a budget $$B_o$$.
+For each order $$o$$, the quote of solver $$i$$ is scored by its error against the executed price
+
+$$
+e_{i,o} = \left| \frac{q_{i,o} - x_o} {x_o} \right|
+$$
+
+where $$q_{i,o}$$ is the exchange rate of the solver's quote, adjusted for network and volume fee, and $$x_o$$ is the exchange rate at which the order was executed.
+Only the five quotes with the smallest error are rewarded.
 
-1. The order is a fill-or-kill market order;
-2. The quote is verified (i.e., its calldata successfully simulated in the autopilot);
-3. The order was executed (not necessarily by the quoting solver);
-4. The solver that provided the winning quote during order creation proposed an execution of the order (in at least one auction) that is at least as good as the quote, and that execution was not filtered out by the fairness filtering of the fair combinatorial auction mechanism.
+Denoting this set by $$T_o$$, solver $$i$$ receives quote reward $$r_{i,o}$$
 
-The current rewards for eligible quotes are as follows:
+$$
+r_{i,o} = B_o \cdot \frac{1 / e_{i,o}^{2}}{\sum_{j \in T_o} 1 / e_{j,o}^{2}}
+$$
 
-- Ethereum mainnet: $$\min\{0.0007 ~\textrm{ETH}, 6 ~\textrm{COW}\}$$,
-- Gnosis Chain: $$\min\{0.15 ~\textrm{xDAI}, 6 ~\textrm{COW}\}$$,
-- Arbitrum: $$\min\{0.00024 ~\textrm{ETH}, 6 ~\textrm{COW}\}$$,
-- Base Chain: $$\min\{0.00024 ~\textrm{ETH}, 6 ~\textrm{COW}\}$$,
-- Avalanche-C Chain: $$\min\{0.006 ~\textrm{AVAX}, 6 ~\textrm{COW}\}$$,
-- Polygon Chain: $$\min\{0.6 ~\textrm{POL}, 6 ~\textrm{COW}\}$$
-- BNB Chain: $$\min\{0.001 ~\textrm{BNB}, 6 ~\textrm{COW}\}$$
-- Linea: $$\min\{0.00003 ~\textrm{ETH}, 6 ~\textrm{COW}\}$$.
-- Plasma: $$\min\{0.6 ~\textrm{XPL}, 6 ~\textrm{COW}\}$$.
-- Ink: $$\min\{0.00003 ~\textrm{ETH}, 6 ~\textrm{COW}\}$$.
+and solvers outside $$T_o$$ receive nothing for that order.
+If one or more quotes have $$e_{i,o} = 0$$, these quotes share the whole of $$B_o$$ equally.
+A solver's quote reward for the accounting period is the sum of $$r_{i,o}$$ over all orders in scope, paid in COW as described in [accounting section](/cow-protocol/reference/core/auctions/accounting).
 
-where, again, the conversion from native token to COW is done by using an up-to-date price (specifically, the average native token/COW Dune prices of the past 24h before the payout are used to determine these exchange rates).
+The core team has a mandate to change how the quote reward budget is allocated among solvers, if needed, to strengthen the quote competition.
+Any change to the allocation is announced to solvers in advance and reflected in this documentation.