Making Bids
A bid transaction carries a Bid PSBT and consumes a previous Bid PSBT (if any)
| Inputs/Outputs | Notes |
|---|---|
Carried bid psbt input/output pair | Offers a new UTXO for the next bid |
Re-constructed refund psbt Input/Output pair | Spends auctioned UTXO |
In scenarios where multiple bids are placed simultaneously on the same auctioned space output from the re-constructed PSBT, only one bid will succeed in burning the coins.
Open Transactions
When opening an auction for a space, avoid placing large initial bids. If two auctions for the same space are opened simultaneously, only the first to be included in a block will establish the auction process for that space. To mitigate potential losses, the Spaces wallet currently defaults to 1000 sats for initial bids.
An open transaction is exactly the same as a bid transaction except it includes a space script which reveals the name in the witness.
Last updated