Messages

Bidding

Users can bid on auctions using the MsgPlaceBid message type. All auction types can be bid on using the same message type.

// MsgPlaceBid is the message type used to place a bid on any type of auction.
type MsgPlaceBid struct {
    AuctionID uint64
    Bidder    sdk.AccAddress
    Amount    sdk.Coin
}

State Modifications:

• Update bidder if different than previous bidder
• For Surplus auctions:
  • Update Bid to msg.Amount
  • Return bid coins to previous bidder
  • Burn coins equal to the increment in the bid (CurrentBid - PreviousBid)
• For Debt auctions:
  • Update Lot amount to msg.Amount
  • Return bid coins to previous bidder
• For Collateral auctions:
  • Return bid coins to previous bidder
  • If in forward phase:
    • Update Bid amount to msg.Amount
  • If in reverse phase:
    • Update Lot amount to msg.Amount
• Extend auction by BidDuration, up to MaxEndTime