policy-dutch-auction-sale

Description

This policy manages a Dutch Auction Sale:

The seller choose a starting price, an ending price and a duration. The price automatically decreases until someone wants to buy it.

This policy is very similar to policy-fixed-sale.

The price is calculated using the following formula:

exp ( (Elapsed Time / Total time) * ( log(end-price) - log(start-price)))

After all the allowed time has been elapsed, and the floor price has been reached, the price stay constant until the sale timeout is reached.

Note: NO-TIMEOUT is supported.

Implemented hooks

(defun enforce-sale-offer)

(defun enforce-sale-withdraw)

(defun enforce-sale-buy)

(defun enforce-sale-settle)

Input data structures

marmalade_sale

Handled by (enforce-sale-offer)

(defschema sale-msg-sch
  sale_type:string ; Type of sale
  currency:module{fungible-v2} ; Currency of sale
)

Mandatory to trigger the policy with sale_type = dutch_auction

dutch_quote

Handled by (enforce-sale-offer)

(defschema dutch-quote-msg-sch
  start_price:decimal ; Starting price
  end_price:decimal ; End price (reached at end time, and until timeout)
  end_time:time ; End time: end of the price decrease ramp
  recipient:string ; Recipient of the payment
)

Mandatory

External functions

Nope

View functions

get-sale

sale-id string → object{quote-sch}

Return the sale details of a given sale-id.

(use marmalade-ng.policy-dutch-auction-sale)
(get-sale "vGA9N7tLIhStJCwKPqWvlXJ5cCDkgLPh8pfhgilLPas")

{"amount": 0.1,
 "currency": coin,
 "enabled": true,
 "end-price": 1.0,
 "end-time": "2023-01-05T00:00:00Z",
 "escrow-account": "c:uZK0n0opPMtEMAOctKX2S-nNa3KCotC9TBQCnXPOYeY",
 "recipient": "alice",
 "sale-id": "vGA9N7tLIhStJCwKPqWvlXJ5cCDkgLPh8pfhgilLPas",
 "seller": "alice",
 "seller-guard": KeySet {keys: [alice-key],pred: keys-all},
 "start-price": 100.0,"start-time": "2023-01-01T00:00:00Z",
 "timeout": "2023-06-01T00:00:00Z",
 "token-id": "t:jH6cLnR-L_tehD874FGubaGQ0zx9BTxzlh8ENcXqWxc"
}

get-sales-for-token

token-id string → [object{quote-sch}]

Return all the active sales details for a given token.

Important: Local only function. Do not use in transactions

(use marmalade-ng.policy-dutch-auction-sale)
(get-sales-for-token "t:jH6cLnR-L_tehD874FGubaGQ0zx9BTxzlh8ENcXqWxc")

[{"amount": 0.1,
 "currency": coin,
 "enabled": true,
 "end-price": 1.0,
 "end-time": "2023-01-05T00:00:00Z",
 "escrow-account": "c:uZK0n0opPMtEMAOctKX2S-nNa3KCotC9TBQCnXPOYeY",
 "recipient": "alice",
 "sale-id": "vGA9N7tLIhStJCwKPqWvlXJ5cCDkgLPh8pfhgilLPas",
 "seller": "alice",
 "seller-guard": KeySet {keys: [alice-key],pred: keys-all},
 "start-price": 100.0,"start-time": "2023-01-01T00:00:00Z",
 "timeout": "2023-06-01T00:00:00Z",
 "token-id": "t:jH6cLnR-L_tehD874FGubaGQ0zx9BTxzlh8ENcXqWxc"
}]

get-sales-from-account

account string → [object{quote-sch}]

Return all the active sales details initiated by a given account.

Important: Local only function. Do not use in transactions

(use marmalade-ng.policy-dutch-auction-sale)
(get-sales-from-account "alice")

[{"amount": 0.1,
 "currency": coin,
 "enabled": true,
 "end-price": 1.0,
 "end-time": "2023-01-05T00:00:00Z",
 "escrow-account": "c:uZK0n0opPMtEMAOctKX2S-nNa3KCotC9TBQCnXPOYeY",
 "recipient": "alice",
 "sale-id": "vGA9N7tLIhStJCwKPqWvlXJ5cCDkgLPh8pfhgilLPas",
 "seller": "alice",
 "seller-guard": KeySet {keys: [alice-key],pred: keys-all},
 "start-price": 100.0,"start-time": "2023-01-01T00:00:00Z",
 "timeout": "2023-06-01T00:00:00Z",
 "token-id": "t:jH6cLnR-L_tehD874FGubaGQ0zx9BTxzlh8ENcXqWxc"
 },

 {"amount": 0.1,
  "currency": coin,
  "enabled": true,
  "end-price": 1.0,
  "end-time": "2023-01-05T00:00:00Z",
  "escrow-account": "c:RofYomFLW13xvivg2XjN3MykJG_1hNRfDvV4W2DjdNU",
  "recipient": "alice",
  "sale-id": "MdXO502ljyF-O6YJV-ODmTuhqFF2Zn6Wa0ONQZu1P8o",
  "seller": "alice",
  "seller-guard": KeySet {keys: [alice-key],pred: keys-all},
  "start-price": 100.0,"start-time": "2023-01-01T00:00:00Z",
  "timeout": "2023-06-01T00:00:00Z",
  "token-id": "t:r-4jQUrZWpYfEqq_iGvBn1ofgCLPoh2ZfG5kfAVX2KM"
 }]

get-all-active-sales

→ [object{quote-sch}]

Return all the active sales details.

Important: Local only function. Do not use in transactions

(use marmalade-ng.policy-dutch-auction-sale)
(get-all-active-sales)

[{"amount": 0.1,
 "currency": coin,
 "enabled": true,
 "end-price": 1.0,
 "end-time": "2023-01-05T00:00:00Z",
 "escrow-account": "c:uZK0n0opPMtEMAOctKX2S-nNa3KCotC9TBQCnXPOYeY",
 "recipient": "alice",
 "sale-id": "vGA9N7tLIhStJCwKPqWvlXJ5cCDkgLPh8pfhgilLPas",
 "seller": "alice",
 "seller-guard": KeySet {keys: [alice-key],pred: keys-all},
 "start-price": 100.0,"start-time": "2023-01-01T00:00:00Z",
 "timeout": "2023-06-01T00:00:00Z",
 "token-id": "t:jH6cLnR-L_tehD874FGubaGQ0zx9BTxzlh8ENcXqWxc"
 },

 {"amount": 0.1,
  "currency": coin,
  "enabled": true,
  "end-price": 1.0,
  "end-time": "2023-01-05T00:00:00Z",
  "escrow-account": "c:RofYomFLW13xvivg2XjN3MykJG_1hNRfDvV4W2DjdNU",
  "recipient": "alice",
  "sale-id": "MdXO502ljyF-O6YJV-ODmTuhqFF2Zn6Wa0ONQZu1P8o",
  "seller": "alice",
  "seller-guard": KeySet {keys: [alice-key],pred: keys-all},
  "start-price": 100.0,"start-time": "2023-01-01T00:00:00Z",
  "timeout": "2023-06-01T00:00:00Z",
  "token-id": "t:r-4jQUrZWpYfEqq_iGvBn1ofgCLPoh2ZfG5kfAVX2KM"
 }]

Events

DUTCH-AUCTION-SALE-OFFER

sale-id* string token-id string start-price decimal

Event sent when an auction is started

DUTCH-AUCTION-SALE-BOUGHT

sale-id* string token-id string buy-price decimal

Event sent when a dutch auction sale is bought

DUTCH-AUCTION-SALE-WITHDRAWN

sale-id* string token-id string

Event sent when a dutch auction sale is withdrawn