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CFAPenaltyBidFacet

Summary​

The CFAPenaltyBidFacet implements the functions that define the Geo Web's auction system.

The Geo Web introduces an "owner-forgiving" auction mechanism instead of a "pure" partial commmon ownership/Harberger tax system that would implement instantaneous transfers of assets upon an incoming (higher) bid.

CFAPenaltyBidFacet gives the current licensor an exclusive window to reject or accept a rival bid. To reject a bid, the licensor must pay a percentage of the incoming bid value as a penalty. Accepting a bid transfers the parcel to the bidder, returns the appropriate collateral to the bidder, and transfers the sale proceeds (plus or minus applicable network fees) to the now former parcel licensor.

Code​

CFAPenaltyBidFacet.sol

LibCFAPenaltyBid.sol

Contract Functions​

CFAPenaltyBidFacet​

Handles bidding using CFAs and penalities

BidAccepted​

event BidAccepted(address _payer, address _bidder, uint256 forSalePrice)

Emitted when a bid is accepted

BidRejected​

event BidRejected(address _payer, address _bidder, uint256 forSalePrice)

Emitted when a bid is rejected

TransferTriggered​

event TransferTriggered(address _sender, address _payer, address _bidder, uint256 forSalePrice)

Emitted when a transfer is triggered

onlyIfPendingBid​

modifier onlyIfPendingBid()

onlyIfNotPendingBid​

modifier onlyIfNotPendingBid()

onlyAfterBidPeriod​

modifier onlyAfterBidPeriod()

onlyDuringBidPeriod​

modifier onlyDuringBidPeriod()

shouldBidPeriodEndEarly​

function shouldBidPeriodEndEarly() public view returns (bool)

Should bid period end early

pendingBid​

function pendingBid() external pure returns (struct LibCFAPenaltyBid.Bid)

Get pending bid

hasPendingBid​

function hasPendingBid() external view returns (bool)

Checks if there is a pending bid

calculatePenalty​

function calculatePenalty() external view returns (uint256)

Get penalty payment

editBid​

function editBid(int96 newContributionRate, uint256 newForSalePrice) external

Edit bid - Must be the current payer - Must have permissions to update flow for payer

Parameters

NameTypeDescription
newContributionRateint96New contribution rate for bid
newForSalePriceuint256Intented new for sale price. Must be within rounding bounds of newContributionRate

placeBid​

function placeBid(int96 newContributionRate, uint256 newForSalePrice) external

Place a bid to purchase license as msg.sender - Pending bid must not exist - Must have permissions to create flow for bidder - Must have ERC-20 approval of payment token

Parameters

NameTypeDescription
newContributionRateint96New contribution rate for bid
newForSalePriceuint256Intented new for sale price. Must be within rounding bounds of newContributionRate

acceptBid​

function acceptBid() external

Accept a pending bid as the current payer - Must be payer - Pending bid must exist - Must be within bidding period

rejectBid​

function rejectBid(int96 newContributionRate, uint256 newForSalePrice) external

Reject a pending bid as the current payer - Must be payer - Pending bid must exist - Must be within bidding period - Must approve penalty amount

Parameters

NameTypeDescription
newContributionRateint96New contribution rate for bid
newForSalePriceuint256Intented new for sale price. Must be within rounding bounds of newContributionRate

triggerTransfer​

function triggerTransfer() external

Trigger a transfer after bidding period has elapsed - Pending bid must exist - Must be after bidding period

LibCFAPenaltyBid​

STORAGE_POSITION_OUT_BID​

bytes32 STORAGE_POSITION_OUT_BID

Bid​

struct Bid {
  uint256 timestamp;
  address bidder;
  int96 contributionRate;
  uint256 perSecondFeeNumerator;
  uint256 perSecondFeeDenominator;
  uint256 forSalePrice;
}

pendingBid​

function pendingBid() internal pure returns (struct LibCFAPenaltyBid.Bid ds)

FlowChangeType​

enum FlowChangeType {
  CREATE_FLOW,
  UPDATE_FLOW,
  DELETE_FLOW
}

_getBooleanFlowOperatorPermissions​

function _getBooleanFlowOperatorPermissions(uint8 permissions, enum LibCFAPenaltyBid.FlowChangeType flowChangeType) internal pure returns (bool flowchangeTypeAllowed)

_calculatePenalty​

function _calculatePenalty() internal view returns (uint256)

Calculate the penalty needed for the pending bid to be rejected

_clearPendingBid​

function _clearPendingBid() internal

_triggerTransfer​

function _triggerTransfer() internal

Trigger transfer of license

_rejectBid​

function _rejectBid(int96 newContributionRate, uint256 newForSalePrice) internal

Reject Bid

NameTypeDescription
iduint256ID of land parcel