🎯 Dutch Auction for Ad Slots

Going once... going twice... going DOWN! 📉

🎬 Main Flow

1. 🏁 Operator starts auction with:

   • Starting price (high)
   • Ending price (low)
   • Duration (1 minute)

2. ⏳ Price decays linearly over time

3. 🎉 First bidder wins!

4. 🖼️ Winner's NFT becomes the selected ad

💰 Price Calculation Magic

The price drops linearly from start to end. Here's how we calculate it:

currentPrice = startPrice - (totalPriceDiff * elapsed) / duration

Where:

• totalPriceDiff = startPrice - endPrice
• elapsed = current time - start time
• duration = 1 minute

📊 Visual Example

Price
   ^
   |
100| *
   |    *
 75|       *
   |          *
 50|             *
   |                *
 25|                   *
   +-----------------------> Time
   0s                   60s

🎪 Events to Watch

1. 🎯 AuctionStarted(startPrice, endPrice, startTime, duration)

   • Fired when operator kicks off a new auction

2. 💫 BidPlaced(bidder, amount, tokenId)

   • Fired when someone places a winning bid

3. 🏆 AuctionEnded(winner, amount, tokenId)

   • Auction complete! We have a winner!

4. 📢 WinningAdSelected(tokenId, title, content, imageURL, publisher, price)

   • Details about the winning ad

🎮 How to Participate

1. Check current price:

getCurrentPrice()

2. Place a bid (must be >= current price):

placeBid(tokenId, bidAmount)

💡 Pro Tips

• 🏃‍♂️ First valid bid wins instantly
• 💸 Bid amount must be >= current price
• 🎨 Make sure your NFT exists before bidding
• 💰 Approve tokens before bidding
• ⏰ Auction lasts exactly 1 minute

🚫 What Happens If...

• No bids? Operator can end auction with endAuctionNoBids()
• Bid too low? Transaction reverts
• Auction ended? Wait for next one!

Happy Bidding! 🎉