⏰ Time-Based Auction System

An NFT and token auction system with precise timing, anti-sniping protection, and reserve prices, built with Clarity 4.

✅ Project Status

✅ Clarity 4 compatible (Epoch 3.3) ✅ All tests passing (8 comprehensive test cases) ✅ Deployed and verified on testnet ✅ Event logging for monitoring (5 event types) ✅ Best practices .gitignore ✅ Comprehensive documentation

🚀 Testnet Deployment

Contract Address: ST384CVPNDTYA0E92TKJZQTYXQHNZSWGCAH0ER64E.time-auction

Transaction ID: 0xd722f1f5bb56d792ca172a2beb864ad7da9c4a2f1ad572fcaff3521b4acdd4e3

Block Height: 3,701,471

Network: Stacks Testnet

Explorer Links:

• View Transaction
• View Contract

🎯 Clarity 4 Features Used

Feature	Usage
stacks-block-time	Precise auction start/end timing
to-ascii?	Generate human-readable bid receipts
print	Event logging (5 event types)

🏗️ Architecture

┌─────────────────────────────────────────────────────────────┐
│                   Time-Based Auction                         │
├─────────────────────────────────────────────────────────────┤
│                                                             │
│   Create Auction → Accept Bids → Auto-Extend → Settle       │
│                                                             │
│   ┌─────────────────────────────────────────────────────┐   │
│   │              stacks-block-time                       │   │
│   │         (Real-time auction management)              │   │
│   └─────────────────────────────────────────────────────┘   │
│                           │                                 │
│           ┌───────────────┼───────────────┐                 │
│           ▼               ▼               ▼                 │
│   ┌───────────┐   ┌───────────┐   ┌───────────────┐        │
│   │  Start    │   │   Bid     │   │  Anti-Snipe   │        │
│   │  Time     │   │ Tracking  │   │  Extension    │        │
│   └───────────┘   └───────────┘   └───────────────┘        │
│                                                             │
│   Features:                                                 │
│   • 1 hour min to 30 day max duration                      │
│   • 10 minute anti-sniping extension                       │
│   • Reserve price protection                               │
│   • Automatic bid refunds                                  │
│                                                             │
└─────────────────────────────────────────────────────────────┘

🚀 Quick Start

cd 06-time-auction
clarinet check
clarinet test
clarinet console

Console Examples

;; Create an auction (1 day duration)
(contract-call? .time-auction create-auction
  "NFT"           ;; item type
  u1              ;; item ID
  u100000000      ;; starting price (100 STX)
  u150000000      ;; reserve price (150 STX)
  u10000000       ;; min increment (10 STX)
  u86400)         ;; duration (1 day in seconds)

;; Place a bid
(contract-call? .time-auction place-bid u1 u100000000)

;; Check time remaining
(contract-call? .time-auction get-time-remaining u1)

;; Get minimum next bid
(contract-call? .time-auction get-minimum-bid u1)

;; Settle auction after it ends
(contract-call? .time-auction settle-auction u1)

📋 Contract Functions

Auction Management

Function	Description
create-auction	Create a new timed auction
place-bid	Place a bid (auto-refunds previous)
settle-auction	Settle after auction ends
cancel-auction	Cancel if no bids yet

Read-Only Functions

Function	Description
get-auction	Get auction details
get-time-remaining	Seconds until auction ends
is-auction-active	Check if bidding is open
get-minimum-bid	Get minimum valid bid amount
generate-bid-receipt	Human-readable receipt

💡 Key Features

Anti-Sniping Protection

If a bid is placed within 10 minutes of auction end, the auction automatically extends by 10 minutes. This prevents last-second sniping and ensures fair bidding.

Reserve Price

Sellers can set a reserve price. If the highest bid doesn't meet the reserve, the item is returned to the seller and the bidder is refunded.

Automatic Refunds

When outbid, the previous highest bidder is automatically refunded from escrow.

Time Constants

Parameter	Value
Minimum Duration	1 hour
Maximum Duration	30 days
Extension Time	10 minutes
Extension Threshold	10 minutes before end

🏆 Builder Challenge Points

• ✅ stacks-block-time for auction timing
• ✅ to-ascii? for bid receipts
• ✅ Anti-sniping mechanism
• ✅ Complete auction lifecycle
• ✅ Production-ready system

📜 License

MIT License