Messages

In this section we describe the processing of the auction messages and the corresponding updates to the state.

Msg/Bid

An auction basket from a given round is bid upon by using the Msg/Bid service message.

// Bid defines a SDK message for placing a bid for an auction
message MsgBid {
  option (gogoproto.equal) = false;
  option (gogoproto.goproto_getters) = false;
  string sender = 1;
  // amount of the bid in INJ tokens
  cosmos.base.v1beta1.Coin bid_amount = 2 [(gogoproto.nullable) = false];
  // the current auction round being bid on
  uint64 round = 3;
}

This service message is expected to fail if:

• Round does not equal the current auction round

• BidAmount does not exceed the previous highest bid amount by at least min_next_increment_rate percent.

This service message transfers the BidAmount of INJ from the Sender to the auction module, stores the bid, and refunds the last bidder's bid amount.