Commit. Reveal. Settle.

Commitment format

sha256(price_lamports u64 LE ‖ quantity u64 LE ‖ salt 32 bytes ‖ bidder pubkey utf8). Generated in your browser; the salt never leaves it unless you back it up.

Escrow

Each commit deposits price × quantity SOL into a program-owned PDA. Bids can over-collateralize to hide their true size.

Reveal

During the reveal window, bidders submit price, quantity and salt. Mismatches and unrevealed bids forfeit allocation and are refunded.

Clearing

Valid bids are sorted by price. The clearing price is the lowest price at which the auction supply is fully demanded, never below reserve. All winners pay the same price.

Claims & refunds

Winners claim tokens at the clearing price; every bidder claims back escrow minus what they paid.