Auctions

Sealed-bid Vickrey auctions for defaulted loan collateral. Bid amounts stay private until settlement.

Active Auctions

Sealed Bids

Reserve Price

Auction Status

How Sealed-Bid Auctions Work

1

Deposit to Pool

Deposit USDC to the auction pool. Funds are locked until auction settles. This proves solvency without revealing intent.

2

Place Sealed Bid

Sign an EIP-712 typed message with your bid amount. The bid is stored off-chain in the CRE enclave — nobody sees amounts.

3

CRE Reveals Bids

After the deadline, the CRE settlement workflow reveals all bids, verifies signatures, and determines the winner inside a secure enclave.

4

Vickrey Settlement

The highest bidder wins but pays the second-highest price. This incentivizes truthful bidding. Settlement is written on-chain.

Bid Privacy

Bid amounts are never visible on-chain. Only an opaque bid count is public. Amounts stay in the CRE enclave.

Pool-Locked Deposits

Deposited USDC is locked until the auction settles. This proves solvency without revealing bid intent to other participants.

Fair Price Discovery

Vickrey (second-price) auctions mean the dominant strategy is to bid your true valuation. No gaming, no bid sniping.