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auctions.go
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auctions.go
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package types
import (
"errors"
"fmt"
"strings"
"time"
sdk "github.com/cosmos/cosmos-sdk/types"
authtypes "github.com/cosmos/cosmos-sdk/x/auth/types"
"github.com/gogo/protobuf/proto"
)
const (
CollateralAuctionType = "collateral"
SurplusAuctionType = "surplus"
DebtAuctionType = "debt"
ForwardAuctionPhase = "forward"
ReverseAuctionPhase = "reverse"
)
// DistantFuture is a very large time value to use as initial the ending time for auctions.
// It is not set to the max time supported. This can cause problems with time comparisons, see https://stackoverflow.com/a/32620397.
// Also amino panics when encoding times ≥ the start of year 10000.
var DistantFuture = time.Date(9000, 1, 1, 0, 0, 0, 0, time.UTC)
var (
_ Auction = &SurplusAuction{}
_ GenesisAuction = &SurplusAuction{}
_ Auction = &DebtAuction{}
_ GenesisAuction = &DebtAuction{}
_ Auction = &CollateralAuction{}
_ GenesisAuction = &CollateralAuction{}
)
// --------------- Shared auction functionality ---------------
// Auction is an interface for handling common actions on auctions.
type Auction interface {
proto.Message
GetID() uint64
WithID(uint64) Auction
GetInitiator() string
GetLot() sdk.Coin
GetBidder() sdk.AccAddress
GetBid() sdk.Coin
GetEndTime() time.Time
GetMaxEndTime() time.Time
GetType() string
GetPhase() string
}
// --------------- BaseAuction ---------------
func (a BaseAuction) GetID() uint64 { return a.ID }
func (a BaseAuction) GetBid() sdk.Coin { return a.Bid }
func (a BaseAuction) GetLot() sdk.Coin { return a.Lot }
func (a BaseAuction) GetBidder() sdk.AccAddress { return a.Bidder }
func (a BaseAuction) GetInitiator() string { return a.Initiator }
func (a BaseAuction) GetEndTime() time.Time { return a.EndTime }
func (a BaseAuction) GetMaxEndTime() time.Time { return a.MaxEndTime }
// ValidateAuction verifies that the auction end time is before max end time
func ValidateAuction(a Auction) error {
// ID can be 0 for surplus, debt and collateral auctions
if strings.TrimSpace(a.GetInitiator()) == "" {
return errors.New("auction initiator cannot be blank")
}
if !a.GetLot().IsValid() {
return fmt.Errorf("invalid lot: %s", a.GetLot())
}
if !a.GetBid().IsValid() {
return fmt.Errorf("invalid bid: %s", a.GetBid())
}
if a.GetEndTime().Unix() <= 0 || a.GetMaxEndTime().Unix() <= 0 {
return errors.New("end time cannot be zero")
}
if a.GetEndTime().After(a.GetMaxEndTime()) {
return fmt.Errorf("MaxEndTime < EndTime (%s < %s)", a.GetMaxEndTime(), a.GetEndTime())
}
return nil
}
// --------------- SurplusAuction ---------------
// NewSurplusAuction returns a new surplus auction.
func NewSurplusAuction(seller string, lot sdk.Coin, bidDenom string, endTime time.Time) SurplusAuction {
auction := SurplusAuction{
BaseAuction: BaseAuction{
// No Id
Initiator: seller,
Lot: lot,
Bidder: nil,
Bid: sdk.NewInt64Coin(bidDenom, 0),
HasReceivedBids: false, // new auctions don't have any bids
EndTime: endTime,
MaxEndTime: endTime,
},
}
return auction
}
func (a SurplusAuction) WithID(id uint64) Auction {
a.ID = id
return Auction(&a)
}
// GetPhase returns the direction of a surplus auction, which never changes.
func (a SurplusAuction) GetPhase() string { return ForwardAuctionPhase }
// GetType returns the auction type. Used to identify auctions in event attributes.
func (a SurplusAuction) GetType() string { return SurplusAuctionType }
// GetModuleAccountCoins returns the total number of coins held in the module account for this auction.
// It is used in genesis initialize the module account correctly.
func (a SurplusAuction) GetModuleAccountCoins() sdk.Coins {
// a.Bid is paid out on bids, so is never stored in the module account
return sdk.NewCoins(a.Lot)
}
func (a SurplusAuction) Validate() error {
return ValidateAuction(&a)
}
// --------------- DebtAuction ---------------
// NewDebtAuction returns a new debt auction.
func NewDebtAuction(buyerModAccName string, bid sdk.Coin, initialLot sdk.Coin, endTime time.Time, debt sdk.Coin) DebtAuction {
// Note: Bidder is set to the initiator's module account address instead of module name. (when the first bid is placed, it is paid out to the initiator)
// Setting to the module account address bypasses calling supply.SendCoinsFromModuleToModule, instead calls SendCoinsFromModuleToAccount.
// This isn't a problem currently, but if additional logic/validation was added for sending to coins to Module Accounts, it would be bypassed.
auction := DebtAuction{
BaseAuction: BaseAuction{
// no ID
Initiator: buyerModAccName,
Lot: initialLot,
Bidder: authtypes.NewModuleAddress(buyerModAccName), // send proceeds from the first bid to the buyer.
Bid: bid, // amount that the buyer is buying - doesn't change over course of auction
HasReceivedBids: false, // new auctions don't have any bids
EndTime: endTime,
MaxEndTime: endTime,
},
CorrespondingDebt: debt,
}
return auction
}
func (a DebtAuction) WithID(id uint64) Auction {
a.ID = id
return Auction(&a)
}
// GetPhase returns the direction of a debt auction, which never changes.
func (a DebtAuction) GetPhase() string { return ReverseAuctionPhase }
// GetType returns the auction type. Used to identify auctions in event attributes.
func (a DebtAuction) GetType() string { return DebtAuctionType }
// GetModuleAccountCoins returns the total number of coins held in the module account for this auction.
// It is used in genesis initialize the module account correctly.
func (a DebtAuction) GetModuleAccountCoins() sdk.Coins {
// a.Lot is minted at auction close, so is never stored in the module account
// a.Bid is paid out on bids, so is never stored in the module account
return sdk.NewCoins(a.CorrespondingDebt)
}
// Validate validates the DebtAuction fields values.
func (a DebtAuction) Validate() error {
if !a.CorrespondingDebt.IsValid() {
return fmt.Errorf("invalid corresponding debt: %s", a.CorrespondingDebt)
}
return ValidateAuction(&a)
}
// --------------- CollateralAuction ---------------
// NewCollateralAuction returns a new collateral auction.
func NewCollateralAuction(seller string, lot sdk.Coin, endTime time.Time, maxBid sdk.Coin, lotReturns WeightedAddresses, debt sdk.Coin) CollateralAuction {
auction := CollateralAuction{
BaseAuction: BaseAuction{
// no ID
Initiator: seller,
Lot: lot,
Bidder: nil,
Bid: sdk.NewInt64Coin(maxBid.Denom, 0),
HasReceivedBids: false, // new auctions don't have any bids
EndTime: endTime,
MaxEndTime: endTime,
},
CorrespondingDebt: debt,
MaxBid: maxBid,
LotReturns: lotReturns,
}
return auction
}
func (a CollateralAuction) WithID(id uint64) Auction {
a.ID = id
return Auction(&a)
}
// GetType returns the auction type. Used to identify auctions in event attributes.
func (a CollateralAuction) GetType() string { return CollateralAuctionType }
// IsReversePhase returns whether the auction has switched over to reverse phase or not.
// CollateralAuctions initially start in forward phase.
func (a CollateralAuction) IsReversePhase() bool {
return a.Bid.IsEqual(a.MaxBid)
}
// GetPhase returns the direction of a collateral auction.
func (a CollateralAuction) GetPhase() string {
if a.IsReversePhase() {
return ReverseAuctionPhase
}
return ForwardAuctionPhase
}
// GetLotReturns returns the auction's lot returns as weighted addresses
func (a CollateralAuction) GetLotReturns() WeightedAddresses { return a.LotReturns }
// GetModuleAccountCoins returns the total number of coins held in the module account for this auction.
// It is used in genesis initialize the module account correctly.
func (a CollateralAuction) GetModuleAccountCoins() sdk.Coins {
// a.Bid is paid out on bids, so is never stored in the module account
return sdk.NewCoins(a.Lot).Add(sdk.NewCoins(a.CorrespondingDebt)...)
}
// Validate validates the CollateralAuction fields values.
func (a CollateralAuction) Validate() error {
if !a.CorrespondingDebt.IsValid() {
return fmt.Errorf("invalid corresponding debt: %s", a.CorrespondingDebt)
}
if !a.MaxBid.IsValid() {
return fmt.Errorf("invalid max bid: %s", a.MaxBid)
}
if err := a.LotReturns.Validate(); err != nil {
return fmt.Errorf("invalid lot returns: %w", err)
}
return ValidateAuction(&a)
}
// NewWeightedAddresses returns a new list addresses with weights.
func NewWeightedAddresses(addrs []sdk.AccAddress, weights []sdk.Int) (WeightedAddresses, error) {
wa := WeightedAddresses{
Addresses: addrs,
Weights: weights,
}
if err := wa.Validate(); err != nil {
return WeightedAddresses{}, err
}
return wa, nil
}
// Validate checks for that the weights are not negative, not all zero, and the lengths match.
func (wa WeightedAddresses) Validate() error {
if len(wa.Weights) < 1 {
return fmt.Errorf("must be at least 1 weighted address")
}
if len(wa.Addresses) != len(wa.Weights) {
return fmt.Errorf("number of addresses doesn't match number of weights, %d ≠ %d", len(wa.Addresses), len(wa.Weights))
}
totalWeight := sdk.ZeroInt()
for i := range wa.Addresses {
if wa.Addresses[i].Empty() {
return fmt.Errorf("address %d cannot be empty", i)
}
if wa.Weights[i].IsNegative() {
return fmt.Errorf("weight %d contains a negative amount: %s", i, wa.Weights[i])
}
totalWeight = totalWeight.Add(wa.Weights[i])
}
if !totalWeight.IsPositive() {
return fmt.Errorf("total weight must be positive")
}
return nil
}