Sendo Spotlight MVP Smart Contract

Project Overview

Sendo Spotlight is a Solana-based auction platform that enables users to participate in time-bound auctions with a unique payout distribution model. The smart contract implements a complete auction system with bid placement, auction timing, and automated fund distribution to specific wallet addresses.

Key Features

• Time-based Auctions: Auctions have defined start and end times
• Bid Management: Users can place bids with automatic refund of previous bids
• Automated Payouts: Funds distributed according to specific 15%/50%/35% split
• Immutable SOL-only: Built on Solana with native SOL transactions only
• Event-driven Architecture: Comprehensive event emission for frontend integration

Technical Architecture

The smart contract is built using the Anchor framework and follows a modular architecture:

• Accounts:
  • SpotState: Stores auction information and bid details
  • EscrowVault: Manages funds for each auction
• Instructions:
  • init_spot: Initialize new auction spots
  • place_bid: Place bids on active auctions
  • settle: Distribute funds when auctions end
• Events:
  • BidPlaced: Emitted when a bid is successfully placed
  • BidRefunded: Emitted when previous bidders are refunded
  • SpotSettled: Emitted when an auction is settled

Payout Split Configuration

The contract distributes funds according to the following split to specific wallet addresses:

• 15% to: 5FzC7gETJdwwKL71w1VkCKEmFSTzhvtTAUPQsxYEHDTp (elizaosDAO)
• 50% to: J9LT87vTYGpPCrr795PSYSwqXUfu6RmULj4hq5UzswHD (Contributor)
• 35% to: 2zB6ySzH2PFKX3f9XZLUKJfP44fwyn69Bp6YaD6LEsqP (Core Team)

Installation and Setup

Quick Start

To get started quickly:

npm i
anchor build
anchor test

Prerequisites

• Rust 1.60 or later
• Node.js 14 or later
• Anchor CLI
• Solana CLI

Installation Steps

1. Clone the repository:

git clone <repository-url>
cd sendo_spotlight_program

2. Install dependencies:

npm install

3. Install Anchor dependencies:

anchor install

Deployment Instructions

Local Development

1. Start a local Solana validator:

solana-test-validator

2. Deploy the program:

anchor deploy

Devnet/Mainnet Deployment

1. Configure your wallet:

solana config set --url <network-url>
solana config set --keypair <path-to-keypair>

2. Deploy to the network:

anchor deploy --provider.cluster <network>

Usage Examples

Initialize a New Auction Spot

anchor run init_spot --args <spot_id> <auction_duration>

Place a Bid

anchor run place_bid --args <spot_id> <amount>

Settle an Auction

anchor run settle --args <spot_id>

Event Descriptions

BidPlaced

• Description: Emitted when a successful bid is placed
• Fields:
  • spot_id: Identifier of the auction spot
  • bidder: Public key of the bidder
  • amount: Amount of the bid in lamports

BidRefunded

• Description: Emitted when a previous bidder is refunded
• Fields:
  • spot_id: Identifier of the auction spot
  • bidder: Public key of the refunded bidder
  • amount: Amount refunded in lamports

SpotSettled

• Description: Emitted when an auction is successfully settled
• Fields:
  • spot_id: Identifier of the auction spot
  • winner: Public key of the winning bidder
  • total_amount: Total amount distributed in lamports

Security Considerations

1. Access Control: Only authorized admin can settle auctions
2. Time Validation: Auctions can only be settled after they end
3. Bid Validation: Bids must be higher than current bid
4. Reentrancy Protection: No reentrant calls in critical sections
5. Input Validation: All inputs are validated before processing
6. Account Rent: Proper account initialization with rent exemption

License

This project is licensed under the MIT License - see the LICENSE file for details.

Contributing

1. Fork the repository
2. Create your feature branch (git checkout -b feature/AmazingFeature)
3. Commit your changes (git commit -m 'Add some AmazingFeature')
4. Push to the branch (git push origin feature/AmazingFeature)
5. Open a Pull Request

Support

For support, please open an issue in the repository or contact the development team.