solana-auction

This is the recipe to develop auction program on solana chain.

Prerequisite knowledge for this recipe

• Solana Cookbook
• About Escrow

Specifications of this auction system

An auction system in which bidders pay FT and make a successful bid for the listed NFT.

sequenceDiagram
      participant Exhibitor
      participant Bidder1
      participant Bidder2
      participant Escrow
      Exhibitor ->>+ Escrow: send 1 NFT with the initial price 200 FT
      Note over Escrow: hold 1 NFT
      Escrow -->>- Exhibitor: result
      Bidder1 ->>+ Escrow: bid with 201 FT (send 201 FT as deposit)
      Note over Escrow: hold 201 FT
      Escrow -->>- Bidder1: result
      Bidder2 ->>+ Escrow: bid with 202 FT (send 202 FT as deposit)
      Escrow ->>+ Bidder1: send the deposited 201 FT
      Note over Escrow: hold 202 FT
      Escrow -->>- Bidder2: result
      Note over Bidder2: wait for the auction end <br/> (default 3600 sec)
      Bidder2 ->>+ Escrow: receive 1 NFT
      Escrow ->>+ Exhibitor: send 202 FT
      Note over Bidder2: hold 1 NFT
      Note over Exhibitor: hold 202 FT
      Escrow -->>- Bidder2: result

• The exhibitor exhibits any NFT

- Determine the initial price (amount of FT required) at the time of listing - Set the auction deadline at the time of listing

• The bidder decides the bid amount and bids

- Bidder cannot bid without specifying a higher price than existing bidders - Bidder cannot bid on expired auctions - To prevent unsettled, Bidder deposits FT at the time of bidding - If another bidder specifies a higher price than current one, the bid right will move and the deposited FT will be converted.

• The exhibitor can cancel the auction

- Only the exhibitor can cancel - If even one person is bidding, it cannot be canceled - NFT returns to the exhibitor

• The highest bidder after the auction deadline is the winning bidder.

- Only the winning bidder can receive the NFT - The FT deposited by the winning bidder is moved to the exhibitor - Close the auction when the NFT and FT move is complete

Run

Build the solana program

cd program
cargo build-bpf

Run validator on the localnet

cd scripts
npm run setup-validator ../program/target/deploy/solana_auction.so

Setup

Create the wallets of exhibitor and bidders and token accounts for FT and NFT.

npm run setup
┌───────────┬────────────────────────────────────────────────┬─────┬────────────────────────────────────────────────┬─────┬────────────────────────────────────────────────┐ │  (index)  │                 Wallet Pubkey                  │ FT  │             FT(NAO) Account PubKey             │ NFT │             NFT(X) Account PubKey              │ ├───────────┼────────────────────────────────────────────────┼─────┼────────────────────────────────────────────────┼─────┼────────────────────────────────────────────────┤ │ exhibitor │ '56soKhmhDDx9A4BUqVZmr7ENqBxroFZmtrNTzw47S5Dr' │ 500 │ '82eyhAL5iWqFaF2SEvWBA4TpB1NxVqdRsbEgJvjWUH6Y' │  1  │ '7RjpXpBXHbkmXSyNnRDB3riscRS4GPGAyR9gWr2SvEsZ' │ │  bidder1  │ 'V7GoneZRCwqZCRNPo7q7saqXo5WgaZD5aBcgzUSQuP1'  │ 500 │ 'CiagdjQ6hyt7iGKBLufdnBr5qPdntEMz2dyxNyFFXkpx' │  0  │                       ''                       │ │  bidder2  │ 'HBSLiE4KGxjgUz4ddB7cKKSeNGig8oNnYeCVEAs5VHq7' │ 500 │ 'DKYdBKm9jq8D3ogw9L89zRT1XXK4JDLp9zQhrNaQiCDG' │  0  │                       ''                       │ └───────────┴────────────────────────────────────────────────┴─────┴────────────────────────────────────────────────┴─────┴────────────────────────────────────────────────┘

The account relationship is as follows

flowchart LR     ExhibitorWallet[Exhibitor Account]     ExhibitorNFTAccount[Exhibitor NFT Token Account  <br/> amount 1]     ExhibitorFTAccount[Exhibitor FT Token Account  <br/> amount 500]     Bidder1Wallet[Bidder1 Account]     Bidder1FTAccount[Bidder1 FT Token Account  <br/> amount 500]     Bidder2Wallet[Bidder2 Account]     Bidder2FTAccount[Bidder2 FT Token Account  <br/> amount 500]     TokenMintNFT[NFT Token Mint]     TokenMintFT[FT Token Mint]     PDA[PDA]     ExhibitorWallet -- owns -->ExhibitorNFTAccount     ExhibitorWallet -- owns -->ExhibitorFTAccount     Bidder1Wallet -- owns -->Bidder1FTAccount     Bidder2Wallet -- owns -->Bidder2FTAccount     ExhibitorNFTAccount -- belongs to -->TokenMintNFT     ExhibitorFTAccount -- belongs to -->TokenMintFT     Bidder1FTAccount -- belongs to -->TokenMintFT     Bidder2FTAccount -- belongs to -->TokenMintFT

Exhibit

Start auction with the duration 3600 seconds and the initial price of NFT is 200

• Solana Program
• Client code

npm run exhibitor 200 3600
Auction data (Held by Escrow Account) ┌────────────────────────────────┬────────────────────────────────────────────────┐ │            (index)             │                     value                      │ ├────────────────────────────────┼────────────────────────────────────────────────┤ │         isInitialized          │                       1                        │ │        exhibitorPubkey         │ '56soKhmhDDx9A4BUqVZmr7ENqBxroFZmtrNTzw47S5Dr' │ │    exhibitingNftTempPubkey     │ '2whKYwM683zVirVitGW6UYugxdqbipMouMiFg3Ye8Vgb' │ │   exhibitorFtReceivingPubkey   │ '82eyhAL5iWqFaF2SEvWBA4TpB1NxVqdRsbEgJvjWUH6Y' │  │             price              │                      200                       │  │             endAt              │           '2022-06-18T01:28:40.000Z'           │  │      highestBidderPubkey       │       '11111111111111111111111111111111'       │  │   highestBidderFtTempPubkey    │       '11111111111111111111111111111111'       │  │ highestBidderFtReturningPubkey │       '11111111111111111111111111111111'       │  └────────────────────────────────┴────────────────────────────────────────────────┘
Token Amount ┌─────────┬───────────┬────────────────────────────────────────────────┬────────┬────────────────────────────────────────────────┐ │ (index) │ exhibitor │            Exhibitor Token Account             │ escrow │             Escrow Token Account               │ ├─────────┼───────────┼────────────────────────────────────────────────┼────────┼────────────────────────────────────────────────┤ │   NFT   │     0     │ '7RjpXpBXHbkmXSyNnRDB3riscRS4GPGAyR9gWr2SvEsZ' │   1    │ '2whKYwM683zVirVitGW6UYugxdqbipMouMiFg3Ye8Vgb' │ │   FT    │    500    │ '82eyhAL5iWqFaF2SEvWBA4TpB1NxVqdRsbEgJvjWUH6Y' │   0    │                      '-'                       │ └─────────┴───────────┴────────────────────────────────────────────────┴────────┴────────────────────────────────────────────────┘

• The exhibitor's NFT has moved to the deposit account that runs the auction.
• Layout of auction data
• The account relationship is as follows.

flowchart LR     ExhibitorWallet[Exhibitor Account]     ExhibitorNFTAccount[Exhibitor NFT Token Account <br/> amount 0]     ExhibitorFTAccount[Exhibitor FT Token Account<br/> amount 500]     Bidder1Wallet[Bidder1 Account]     Bidder1FTAccount[Bidder1 FT Token Account  <br/> amount 500]     Bidder2Wallet[Bidder2 Account]     Bidder2FTAccount[Bidder2 FT Token Account  <br/> amount 500]     TokenMintNFT[NFT Token Mint]     TokenMintFT[FT Token Mint]     PDA[PDA]     Escrow[Escrow Account <br/> holding auction data]     TempNFTAccount[Temp NFT Token Account <br/> amount 1]     ExhibitorWallet -- owns -->ExhibitorNFTAccount     ExhibitorWallet -- owns -->ExhibitorFTAccount     Bidder1Wallet -- owns -->Bidder1FTAccount     Bidder2Wallet -- owns -->Bidder2FTAccount     PDA -- owns --> TempNFTAccount     ExhibitorNFTAccount -- belongs to -->TokenMintNFT     ExhibitorFTAccount -- belongs to -->TokenMintFT     Bidder1FTAccount -- belongs to -->TokenMintFT     Bidder2FTAccount -- belongs to -->TokenMintFT     TempNFTAccount -- belongs to -->TokenMintNFT

Bid

Bidder1 bids for 201 FT on the listed NFT

• Solana Program
• Client code

npm run bidder1 201
┌────────────────────────────────┬────────────────────────────────────────────────┐ │            (index)             │                     value                      │ ├────────────────────────────────┼────────────────────────────────────────────────┤ │         isInitialized          │                       1                        │ │        exhibitorPubkey         │ '56soKhmhDDx9A4BUqVZmr7ENqBxroFZmtrNTzw47S5Dr' │ │    exhibitingNftTempPubkey     │ '2whKYwM683zVirVitGW6UYugxdqbipMouMiFg3Ye8Vgb' │ │   exhibitorFtReceivingPubkey   │ '82eyhAL5iWqFaF2SEvWBA4TpB1NxVqdRsbEgJvjWUH6Y' │  │             price              │                      201                       │  │             endAt              │           '2022-06-18T01:28:40.000Z'           │  │      highestBidderPubkey       │ 'V7GoneZRCwqZCRNPo7q7saqXo5WgaZD5aBcgzUSQuP1'  │  │   highestBidderFtTempPubkey    │ '6NQMmsbFEATnzUMue86BqywPd6UCpa5hbNhkyd4gJyqf' │  │ highestBidderFtReturningPubkey │ 'CiagdjQ6hyt7iGKBLufdnBr5qPdntEMz2dyxNyFFXkpx' │  └────────────────────────────────┴────────────────────────────────────────────────┘ ┌──────────────────────────────┬───────┬────────────────────────────────────────────────┬────────┬────────────────────────────────────────────────┐ │           (index)            │  own  │              Bidder Token Account              │ escrow │             Temp Token Account                 │ ├──────────────────────────────┼───────┼────────────────────────────────────────────────┼────────┼────────────────────────────────────────────────┤ │         Bidder's FT          │  299  │ 'CiagdjQ6hyt7iGKBLufdnBr5qPdntEMz2dyxNyFFXkpx' │  201   │ '6NQMmsbFEATnzUMue86BqywPd6UCpa5hbNhkyd4gJyqf' │ │ Previous Highest Bidder's FT │  NaN  │       '11111111111111111111111111111111'       │  NaN   │       '11111111111111111111111111111111'       │ └──────────────────────────────┴───────┴────────────────────────────────────────────────┴────────┴────────────────────────────────────────────────┘

• The bid amount 201 FT specified by Bidder2 has been moved to the temporary token account.
• The account relationship is as follows.

flowchart LR     ExhibitorWallet[Exhibitor Account]     ExhibitorNFTAccount[Exhibitor NFT Token Account  <br/> amount 0]     ExhibitorFTAccount[Exhibitor FT Token Account  <br/> amount 500]     Bidder1Wallet[Bidder1 Account]     Bidder1FTAccount[Bidder1 FT Token Account  <br/> amount 299]     Bidder1TempFTAccount[Temp Bidder1 FT Token Account <br/> amount 201]      Bidder2Wallet[Bidder2 Account]     Bidder2FTAccount[Bidder2 FT Token Account  <br/> amount 500]     TokenMintNFT[NFT Token Mint]     TokenMintFT[FT Token Mint]     PDA[PDA]     Escrow[Escrow Account <br/> holding auction data]     TempNFTAccount[Temp NFT Token Account <br/> amount 1]      ExhibitorWallet -- owns -->ExhibitorNFTAccount     ExhibitorWallet -- owns -->ExhibitorFTAccount     Bidder1Wallet -- owns -->Bidder1FTAccount     Bidder2Wallet -- owns -->Bidder2FTAccount     PDA -- owns --> TempNFTAccount     PDA -- owns --> Bidder1TempFTAccount     ExhibitorNFTAccount -- belongs to -->TokenMintNFT     ExhibitorFTAccount -- belongs to -->TokenMintFT     Bidder1FTAccount -- belongs to -->TokenMintFT     Bidder2FTAccount -- belongs to -->TokenMintFT     TempNFTAccount -- belongs to -->TokenMintNFT     Bidder1TempFTAccount -- belongs to -->TokenMintFT

Another one bid

Bidder2 bids for 201 FT on the listed NFT. If it is 201 FT or less, an error will occur.

• Solana Program
• Client code

npm run bidder2 202
┌────────────────────────────────┬────────────────────────────────────────────────┐ │            (index)             │                     value                      │ ├────────────────────────────────┼────────────────────────────────────────────────┤ │         isInitialized          │                       1                        │ │        exhibitorPubkey         │ '56soKhmhDDx9A4BUqVZmr7ENqBxroFZmtrNTzw47S5Dr' │ │    exhibitingNftTempPubkey     │ '2whKYwM683zVirVitGW6UYugxdqbipMouMiFg3Ye8Vgb' │ │   exhibitorFtReceivingPubkey   │ '82eyhAL5iWqFaF2SEvWBA4TpB1NxVqdRsbEgJvjWUH6Y' │  │             price              │                      202                       │  │             endAt              │           '2022-06-18T01:28:40.000Z'           │  │      highestBidderPubkey       │ 'HBSLiE4KGxjgUz4ddB7cKKSeNGig8oNnYeCVEAs5VHq7' │  │   highestBidderFtTempPubkey    │ '7ywDWiZhU8GHPXpU6Wihqzvk8QFB2cMeAvqgzNBzYSjv' │  │ highestBidderFtReturningPubkey │ 'DKYdBKm9jq8D3ogw9L89zRT1XXK4JDLp9zQhrNaQiCDG' │ └────────────────────────────────┴────────────────────────────────────────────────┘ ┌──────────────────────────────┬───────┬────────────────────────────────────────────────┬────────┬────────────────────────────────────────────────┐ │           (index)            │  own  │              Bidder Token Account              │ escrow │             Temp Token Account                 │ ├──────────────────────────────┼───────┼────────────────────────────────────────────────┼────────┼────────────────────────────────────────────────┤ │         Bidder's FT          │  298  │ 'DKYdBKm9jq8D3ogw9L89zRT1XXK4JDLp9zQhrNaQiCDG' │  202   │ '7ywDWiZhU8GHPXpU6Wihqzvk8QFB2cMeAvqgzNBzYSjv' │ │ Previous Highest Bidder's FT │  500  │ 'CiagdjQ6hyt7iGKBLufdnBr5qPdntEMz2dyxNyFFXkpx' │  NaN   │ '6NQMmsbFEATnzUMue86BqywPd6UCpa5hbNhkyd4gJyqf' │ └──────────────────────────────┴───────┴────────────────────────────────────────────────┴────────┴────────────────────────────────────────────────┘

• The bid amount 202 FT specified by Bidder2 has been moved to the temporary token account.
• The FT deposited by Bidder1 has been returned to Bidder1 and the temporary token account is closed.
• The account relationship is as follows.

flowchart LR     ExhibitorWallet[Exhibitor Account]     ExhibitorNFTAccount[Exhibitor NFT Token Account ]     ExhibitorFTAccount[Exhibitor FT Token Account ]     Bidder1Wallet[Bidder1 Account]     Bidder1FTAccount[Bidder1 FT Token Account  <br/> amount 500]     Bidder2Wallet[Bidder2 Account]     Bidder2FTAccount[Bidder2 FT Token Account  <br/> amount 298]     Bidder2TempFTAccount[Temp Bidder2 FT Token Account <br/> amount 202]     TokenMintNFT[NFT Token Mint]     TokenMintFT[FT Token Mint]     PDA[PDA]     Escrow[Escrow Account <br/> holding auction data]     TempNFTAccount[Temp NFT Token Account <br/> amount 1]     ExhibitorWallet -- owns -->ExhibitorNFTAccount     ExhibitorWallet -- owns -->ExhibitorFTAccount     Bidder1Wallet -- owns -->Bidder1FTAccount     Bidder2Wallet -- owns -->Bidder2FTAccount     PDA -- owns --> TempNFTAccount     PDA -- owns --> Bidder2TempFTAccount     ExhibitorNFTAccount -- belongs to -->TokenMintNFT     ExhibitorFTAccount -- belongs to -->TokenMintFT     Bidder1FTAccount -- belongs to -->TokenMintFT     Bidder2FTAccount -- belongs to -->TokenMintFT     TempNFTAccount -- belongs to -->TokenMintNFT     Bidder2TempFTAccount -- belongs to -->TokenMintFT

Receive NFT when the auction duration expires.

After 3600 seconds, the winning bidder will be confirmed, FT will move to the exhibitor, and NFT will move to the winning bidder.

• Solana Program
• Client code

npm run receive2
┌─────────┬───────────┬────────────────────────────────────────────────┬────────┬────────────────────────────────────────────────┐ │ (index) │ exhibitor │            Exhibitor Token Account             │ bidder │             Bidder Token Account               │ ├─────────┼───────────┼────────────────────────────────────────────────┼────────┼────────────────────────────────────────────────┤ │   NFT   │     0     │ '7RjpXpBXHbkmXSyNnRDB3riscRS4GPGAyR9gWr2SvEsZ' │   1    │ 'Hc8ivcAFQysW9HNpjQLwzbqjqYA3kG8idLK1i9V5oZ9H' │ │   FT    │    702    │ '82eyhAL5iWqFaF2SEvWBA4TpB1NxVqdRsbEgJvjWUH6Y' │  298   │ 'DKYdBKm9jq8D3ogw9L89zRT1XXK4JDLp9zQhrNaQiCDG' │ └─────────┴───────────┴────────────────────────────────────────────────┴────────┴────────────────────────────────────────────────┘

• The 202 NAO specified by Bidder2 has been moved to the exhibitor.
• The exhibitor's NFT has moved to Bidder2.
• The account relationship is as follows.

flowchart LR     ExhibitorWallet[Exhibitor Account]     ExhibitorNFTAccount[Exhibitor NFT Token Account  <br/> amount 0]     ExhibitorFTAccount[Exhibitor FT Token Account  <br/> amount 702]     Bidder1Wallet[Bidder1 Account]     Bidder1FTAccount[Bidder1 FT Token Account  <br/> amount 500]     Bidder2Wallet[Bidder2 Account]     Bidder2FTAccount[Bidder2 FT Token Account  <br/> amount 298]     Bidder2NFTAccount[Bidder2 NFT Token Account  <br/> amount 1]     TokenMintNFT[NFT Token Mint]     TokenMintFT[FT Token Mint]     PDA[PDA]     ExhibitorWallet -- owns -->ExhibitorNFTAccount     ExhibitorWallet -- owns -->ExhibitorFTAccount     Bidder1Wallet -- owns -->Bidder1FTAccount     Bidder2Wallet -- owns -->Bidder2FTAccount     Bidder2Wallet -- owns -->Bidder2NFTAccount     ExhibitorNFTAccount -- belongs to -->TokenMintNFT     ExhibitorFTAccount -- belongs to -->TokenMintFT     Bidder1FTAccount -- belongs to -->TokenMintFT     Bidder2FTAccount -- belongs to -->TokenMintFT     Bidder2NFTAccount -- belongs to -->TokenMintNFT