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Create Auction

An OFA lets you access liquidity from professional market makers who compete for the right to fill your customers' orders. Refer to Introduction for an overview of DFlow OFAs and Auction Lifecycle for how OFAs work in practice.

Before You Start​

You'll need the Keplr browser extension to interact with the DFlow chain. If you don't have enough USDC in your account to pay the auction creation fee, you'll also need to transfer USDC from a Solana wallet to your account.

Step 1: Spec Your Auction​

Head over to the DFlow Dashboard, connect your Keplr wallet, and click Create. DFlow offers two methods of creating auction: Single and Multiple.

Single​

This is recommended for first-time users. The inputs on this page correspond to the parameters defined in Auction Parameters.

Multiple​

You can create many auctions at once by importing a CSV that follows the below standards. Click Download Template to see the format required for this feature. You can then click Import to import your filled-in form. See the following descriptions for each parameter:

Network

The network where you're originating order flow. Examples:

  • evm1 for Ethereum
  • Check out this page for valid values

Base

The base token. Examples:

  • 0xdAC17F958D2ee523a2206206994597C13D831ec7
  • Make sure you verify token address is legit using an explorer like this one for Ethereum
  • Make sure token address belongs to selected network
  • EVM auctions can specify the native token using the value 0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee. Auctions that specify the native token will receive order flow for both the wrapped and unwrapped variants of the native token. DFlow auctions do not support specifying the wrapped variant of the native token as the base or quote.

Quote

The quote token. Examples:

  • 0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48
  • Make sure you verify token address is legit using an explorer like this one for Ethereum
  • Make sure token address belongs to selected network
  • EVM auctions can specify the native token using the value 0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee. Auctions that specify the native token will receive order flow for both the wrapped and unwrapped variants of the native token. DFlow auctions do not support specifying the wrapped variant of the native token as the base or quote.

Notional Size

The amount of order flow to sell. Examples:

  • 500000
  • This value is in USD
  • At least $500,000

Order Size Min

The lower end of the order size range on the order flow. Examples:

  • 100.50
  • This value is in USD and is inclusive
  • Specify at most two decimals

Order Size Max

The upper end of the order size range on the order flow. This value is in USD and is exclusive. Examples:

  • 500.50
  • This value is in USD and is exclusive
  • Specify at most two decimals

Delivery Period

This is the maximum delivery period per auction epoch. Examples:

  • 30H
  • Use H for hours and D for days

Platform Fee

(Optional) This specifies a fee you will charge your users. Examples:

  • 85
  • This value is in basis points (1 basis point is 0.01%)
  • Leave blank if you choose to opt out
  • To override an existing default platform fee, put 0

Platform Fee Receiver

(Optional) This is the address that will receive the platform fee. Examples:

  • 0xD65F37E337ac88740E919E3dCAa6EAc4064aC88E
  • Ensure you put in the correct wallet address for the right network
  • Leave blank if you choose to opt out
  • To override an existing default fee receiver, enter new wallet address

Network Fee Payer

Choose who pays for the settlement transaction – the market maker or retail trader. Examples:

  • RT
  • The two options are MM or RT

Client Auction ID

This is a friendly name for your auction. Examples:

  • Sample-Auction-1
  • Name will be shown publicly in the Dashboard

Step 1B: Deposit USDC​

If you don't have enough USDC in your account to pay the auction creation fee, the DFlow Dashboard will prompt you to transfer USDC from a Solana wallet to your account. Follow the prompts to transfer USDC.

Step 1C: Set an Endorsement Key​

This is only required for first-time auction creators. If it's your first time creating an auction, the DFlow Dashboard will direct you to set an endorsement key.

If you've already set up your endorsement server, input the endorsement key that you used to set up the server.

If not, you can generate one in the DFlow Dashboard by clicking Generate. Remember to store your key securely. Any key on the Ed25519 curve is a valid endorsement key, so you can also generate one offline and input its public key.

Step 2: Create Your Auction​

We recommend that you set up your endorsement server set up before creating your first auction because your users won't be able to send order transactions without an endorsement server. See Set Up an Endorsement Server for instructions.

Review your auction, then click Create Auction.

Your auction will begin accepting bids immediately! Prepare to start sending orders – learn how to send orders in Swap Tokens.