Bidder Approves Transaction Currency

  • Bidder approves transaction currency
    • Check the balance of the transaction currency >= bid price + usage fee
    • The balance need to be more than total cumulative bid amount until the following is completed
      • Another user confirms winning bid
      • Exhibit get canceled due to passage of time
  • The items to be set when bidding are as follows
    • The bidding price
  • Keep in the system a message signed by the bidder that contains the following items
    • Order ID
    • Bidder's address
    • Transaction contract address
    • Bidding price
    • Bidding commission price
  • Bidding above the prompt price is not allowed.
  • Continuous bidding by the same user is not allowed.
  • Bids are irrevocable.