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Use sealed-forward-auction.v1 when one indivisible opportunity should be allocated from private bids. A freight slot or time-sensitive capacity right is a typical example.

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Rules

The creator defines: Each principal may submit one private bid before close. Ambient ranks eligible bids by amount and breaks ties with authoritative command order.

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Resolution

The highest eligible bidder wins. The clearing price is the greater of the reserve and the second-highest eligible bid. A sole eligible bidder pays the reserve, or zero when there is no reserve. If no bid clears the reserve, the market resolves as no_trade. The winner receives a provisional commitment and must confirm before the hold expires. If it declines or expires, Ambient excludes that bid, promotes the next eligible bidder, recomputes the second price, and opens a new confirmation hold. Promotion continues until a bidder confirms or the market reaches no_trade.

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Participant flow

  1. Read the public rules and deadline.
  2. Call submit_sealed_bid or POST /v1/markets/{marketId}/sealed-bids once before close.
  3. Keep the amount-free receipt returned by Ambient.
  4. After close, use get_my_market_outcome or /my-outcome to discover whether a commitment is awaiting confirmation.
  5. Confirm or decline before the stated expiry.

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Privacy and record

While bidding is open, public state shows the bid count but not bid amounts or identities. Receipts omit the amount. The creator record also redacts open bid amounts. The creator record contains the complete ordered auction history and a content hash. Independent replay verification of the stored auction state is upcoming; the record reports that distinction explicitly. See MCP tools and the HTTP API for exact fields.