Auctions

The AuctionSDK and AuctionFactorySDK manage on-chain auctions. Akita uses a “crack auction” model with an optional VRF-powered raffle for non-winning bidders.

Concepts

Crack Auctions

A crack auction is a standard ascending-price auction where:

• Bidders place increasingly higher bids
• The highest bidder wins when the auction ends
• A portion of bid fees can fund a VRF raffle for losing bidders

VRF Raffle

Optionally, bid fees accumulate into a prize pool. When the auction ends, losing bidders compete in a weighted raffle for the accumulated pool — bidders who placed higher bids have proportionally greater chances. A VRF (Verifiable Random Function) beacon provides on-chain randomness for the draw. This makes participation worthwhile even for non-winning bidders.

Initialization

import { AuctionSDK, AuctionFactorySDK } from '@akta/sdk/auction'

const auctionFactory = new AuctionFactorySDK({ algorand })

// Interact with an existing auction
const auction = new AuctionSDK({
  algorand,
  factoryParams: { appId: auctionAppId },
})

Creating an Auction

const auction = await auctionFactory.newAuction({
  bidAssetId: 0n,               // Bid with ALGO
  startingBid: 1_000_000n,      // 1 ALGO minimum
  bidMinimumIncrease: 100_000n,  // 0.1 ALGO min increment
  bidFee: 5n,                   // 5% bid fee
  startTimestamp: BigInt(Math.floor(Date.now() / 1000)),
  endTimestamp: BigInt(Math.floor(Date.now() / 1000) + 86400), // 24h
  prizeAsset: nftAssetId,
  prizeAmount: 1n,
  name: 'My NFT',
  proof: merkleProof,
  marketplace: marketplaceAddr,
  gateId: 0n,                   // No gate
  weightsListCount: 0n,         // No raffle weights
})

Key Features

• Configurable duration — Set auction start and end times
• Reserve price — Minimum bid to start the auction
• Bid increments — Minimum amount each new bid must exceed the previous
• Raffle integration — Optional VRF raffle from bid fees
• Double-sided fees — Both listing and purchasing platforms can take fees
• Composable fees — DAO-controlled auction creation fees and sale percentages

Auction operations through a wallet use the AuctionPlugin. See Wallet Plugins.