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RFQ MODE

VICKREY_ENGINE | SECOND_PRICE_SEALED_BID

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gavelOpen Sealed-Bid Auction

insightsChainGPT Signal

24h bias · cETH/cUSDC

verified

Vickrey Auctionhelp

Highest sealed bid wins. Winner pays second-highest price.

Mathematically optimal for sellers. Bidders are incentivized to bid honestly — bidding below true valuation never increases their win probability and bidding above creates downside risk.

codePrivateOTC.sol · _pickVickreyWinner

.SOL

for (uint i = 1; i < bids.length; i++) {
  ebool isHigher = Nox.gt(candidate, highest);
  second  = Nox.select(isHigher, highest, second);
  highest = Nox.select(isHigher, candidate, highest);
}
priceToPay = second;  // encrypted

infoAll comparisons run inside encrypted handles. Cap: 10 bidders.