Decentralized Auction Platform

Description

Welcome to the Decentralized Auction Platform named D-Auction, a smart contract-based solution for conducting decentralized auctions of non-fungible tokens (NFTs). This platform allows users to create auctions for their NFTs, participate in bidding, and claim ownership of the NFTs upon winning the auctions.

Information

⚙️ Tech Stack: NextJS, RainbowKit, Foundry, Wagmi, Viem, Alchemy, Scaffold-ETH 2 and Typescript.

📜 Contract: https://sepolia.etherscan.io/address/0x8f86351a1394c07300f6f2071dafe931f209efc7#code

🧑🏻‍💻 Demo: https://d-auction-app-amrrobb.vercel.app/

Features

1. Owned NFT Display:: The application provides visibility of all owned NFTs eligible for auction creation.
2. Auction Creation: Users have the ability to commence auctions for their NFTs, determining the initial price and duration.
3. Bid Participation: Bidders engage in ongoing auctions by submitting bids within the designated timeframe.
4. NFT Ownership Claim: The successful bidder can assert ownership of the NFT subsequent to triumphing in the auction.
5. Balance Retrieval: Participants who engaged in auctions but did not secure the winning bid retain funds within the auction contract. They can reclaim these funds by retrieving their deposited bids.

Actors

1. Auctioneer/Seller: The individual who initiates an auction for their NFT by calling the createAuction function. The auctioneer sets the starting price and duration of the auction. Additionally, as the seller, they own the NFT being auctioned and ultimately transfer ownership to the winning bidder.

2. Bidder: Users who participate in ongoing auctions by placing bids on NFTs they are interested in acquiring. Bidders interact with the platform by calling the placeBid function.

3. Winner: The bidder who submits the highest bid within the auction's time frame becomes the winner of the auction. The winner can claim ownership of the NFT by calling the claimNft function.

Video Demonstration