How It Works

The Sealed Bid protocol ensures market integrity by removing information asymmetry. Explain without flexing.

Auction Creation

The seller defines auction parameters (min price, duration) and locks the NFT into a secure Solana Escrow PDA. The asset is held trustlessly until settlement.

Bid & Lock Collateral

Bidders submit encrypted bid values directly to the Arcium MPC network while simultaneously locking their maximum collateral in a Solana PDA. Bid amounts remain private even from the blockchain.

MPC Winner Reveal

After the auction ends, Arcium nodes compute the winner privately. A verified 'AuctionResult' is published on-chain, proving the winner and price without exposing other bids.

Trustless Settlement

Anyone can 'crank' the settlement. The program atomically transfers the NFT to the winner, sends the winning bid to the seller, and refunds excess collateral back to the winner.

Refunds & Reclaims

Losing bidders reclaim their 100% collateral. If zero bids were placed, the seller can reclaim their unsold NFT from the escrow account.