First Proto for an auction overhaul (not really much shorter than current
version should we golf this? :) )
Auctions generally:
The Block is an entity. Any asset that CAN be owned by Agora CAN
be owned by the block. A lot is a non-empty list of assets that
belong to the block.
If a player (the auctioneer) is authorized by the rules to conduct an
auction for a specified group of assets (the items), e CAN initiate
the auction by publishing a Notice of Auction Initiation that
includes all of:
* A clear intent to initiate an auction;
* An ordered list of lots, specifying the items in each lot, such
that each item is in exactly one lot, and the items are grouped in
lots and ordered as specified by the authorizing rule (if no
grouping and/or ordering is specified, the unspecified details are
at the auctioneer's discretion);
* the minimum bid, and optionally the currency of the auction;
* the eligible bidders, which defaults to all players but may be
otherwise specified by the authorizing rule;
* As part of the Notice, one or more by-announcement actions that
succeed in either transferring to the block, or creating in
possession of the block, all of the items.
The specified ordering of the lots is the default preference for the
auction.
If the authorizing rule specifies that one or more of the items in an
auction are "new" items, then the auctioneer CAN create those items
in the possession of the block by announcement if the creation is
part of an otherwise correct auction initiation notice.
Bidding
When an auction is initiated, its bidding period begins. The bidding
period ends 7 days after its initiation, or if it began more than 96
hours ago and no bid has been placed or withdrawn in the last 96
hours.
During the bidding period, an eligible bidder CAN bid by
announcement, specifying the auction, an amount of the auction
currency (the bid) greater than the minimum bid, and optionally an
ordered list of lots (the bid's preference). If no preference is
specified, that bid's preference is the default preference.
A person CAN withdraw their bid on an Auction by announcement. If
a person submits a bid on an Auction, all bids previously placed
on that Auction by that person are withdrawn.
A person SHALL NOT bid on an Auction if it would be impossible for
em to pay that amount at the conclusion of the Auction.
Resolution
When an auction's bidding period ends, its valid bidders are the
entities who have placed non-withdrawn bids in the auction. In a
timely fashion, the auctioneer SHALL publish a list of valid bidders,
their bids, and their assigned winning lot (if any), where their
winning lot is assigned by the auctioneer as follows:
[Credit to Alexis for this language]
For each valid bidder in descending order of bids (breaking ties in
favour of the bidder whose current bid was submitted first), of the
remaining lots, e is assigned the first as-yet unassigned lot that
1) appears first in eir preferences for that auction, if any,
otherwise 2) the one that appears first in the decision's default
preferences, if any, otherwise 3) one chosen by the auctioneer.
Continue in this manner until all lots have been assigned or the
list of valid bidders is exhausted. Any remaining bidders do not
win any lot, and any remaining lots are excess lots.
A document purporting to be such a publication is a self-ratifying
attestation that (1) such an auction existed; (2) the indicated bids
were valid bids; and (3) the indicated bidders were assigned the
indicated lots.
Within a timely fashion after such a publication, an entity with an
assigned winning lot CAN and SHALL claim eir lot by paying a fee
equal to eir bid to transfer the items in eir assigned winning lot
from the block to emself. If any lots are not claimed in this
manner after the time limit expires, they become excess lots. Failure
to claim a winning lot within the time limit is a Class-2 crime.
[
TODO: what happens to exess lots?
TODO: zombie auction compatibilty (totems?)
]
