Bid in an optimistic auction

This guide walks through submitting a bid to the optimistic auctions precompile and waiting for the bid set to finalize. For background on how optimistic auctions work, see Optimistic Auctions.

Submit a bid

A bid is a transaction to the submitBid function on the precompile. Each bid specifies an auction_id (which auction to join), a deadline (in microseconds), a value (application-defined score or price), and a data payload (e.g. an encoded intent or signed transaction).

import { ethers } from "ethers";

const provider = new ethers.JsonRpcProvider("https://rpc.v1.dev.pod.network");
const wallet = new ethers.Wallet(PRIVATE_KEY, provider);

const AUCTION = "0xeDD0670497E00ded712a398563Ea938A29dD28c7";
const abi = [
  "function submitBid(uint256 auction_id, uint64 deadline, uint256 value, bytes data)",
  "event BidSubmitted(uint256 indexed auction_id, address indexed bidder, uint64 indexed deadline, uint256 value, bytes data)",
];
const auction = new ethers.Contract(AUCTION, abi, wallet);

const auctionId = 1n;
const deadline = BigInt(Date.now()) * 1000n + 10_000_000n; // 10 seconds from now, in microseconds
const value = ethers.parseEther("100");                     // application-defined bid value
const data = "0x";                                          // opaque payload

const tx = await auction.submitBid(auctionId, deadline, value, data);
console.log("Bid tx:", tx.hash);

use pod_sdk::{
    auctions::client::AuctionClient,
    provider::PodProviderBuilder,
    U256,
};
use std::time::{Duration, SystemTime};

let provider = PodProviderBuilder::with_recommended_settings()
    .with_private_key(PRIVATE_KEY.parse()?)
    .on_url("wss://rpc.v2.pod.network")
    .await?;

let auction = AuctionClient::new(
    provider,
    "0xeDD0670497E00ded712a398563Ea938A29dD28c7".parse()?,
);

let auction_id = U256::from(1);
let deadline = SystemTime::now() + Duration::from_secs(10);
let value = U256::from(100) * U256::from(10).pow(U256::from(18));
let data = vec![];

let receipt = auction
    .submit_bid(auction_id, deadline, value, data)
    .await?;
println!("Bid tx: {}", receipt.transaction_hash);

Microseconds, not milliseconds. Deadlines are Unix timestamps in microseconds.

Wait for the bid set to finalize

After submitting a bid, call pod_waitPastPerfectTime to block until the past perfect certificate is available for the auction deadline. Once it returns, the bid set is complete.

// Wait for past perfection at the deadline
const result = await provider.send("pod_waitPastPerfectTime", [Number(deadline)]);
console.log("Bid set is final");

Fetch the finalized bid set

Once past perfection is reached, query the BidSubmitted event logs to read all bids in the auction.

const filter = auction.filters.BidSubmitted(auctionId);
const logs = await auction.queryFilter(filter);

for (const log of logs) {
  console.log(`Bidder: ${log.args.bidder}, Value: ${log.args.value}`);
}

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Submit a bid

Wait for the bid set to finalize

Fetch the finalized bid set