Skip to main content

How to cancel or end an auction on a marketplace

Prerequisites​

Before getting started, make sure you have the following ready:

  1. Create a Ternoa account with Alphanet CAPS
  2. Install and set up your editor of choice (we will use Visual Studio Code [VSC] in this tutorial)
  3. Install NodeJS v.14+ & NPM
  4. Install & initialize Ternoa-JS

Cancel an auction on a marketplace using Ternoa-JS​

This function cancel an auctioned NFT from a marketplace on the Ternoa chain. It returns an object promise containing the AuctionCancelledEvent provided by the Ternoa blockchain.

info

Use your own account by updating the //TernoaTestAccount with your account seed when retrieving the keyring from the example below. Replace the NFT_ID with the existing one to cancel. Note: This transaction can only be submitted if the auction has not started yet.

import {
    cancelAuction,
    initializeApi,
    getKeyringFromSeed,
    WaitUntil,
} from "ternoa-js";

const cancelAuctionNFT = async () => {
    try {
        await initializeApi();
        const keyring = await getKeyringFromSeed("//TernoaTestAccount");
        const NFT_ID = // update with the auctioned nft id you want to cancel.
        const res = await cancelAuction(
            NFT_ID,
            keyring,
            WaitUntil.BlockInclusion
        );
        console.log(`Auction cancelled for NFT id: ${res.nftId}`);
    } catch (e) {
        console.error(e);
    }
};

The expected params​

`nftId`: The ID of the auctioned NFT to cancel.
`keyring`: The provided keyring (containing the address) will be used to sign the transaction and pay the execution fee.
`waitUntil`: WaitUntil define at which point we want to get the results of the transaction execution: BlockInclusion or BlockFinalization.

Response​

The response provided from the blockchain event includes all the informations below according to the params provided when cancelling an auction.

`nftId`: NFT id of the cancelled auction.

End an auction on a marketplace using Ternoa-JS​

This function end an auctioned NFT from a marketplace on the Ternoa chain. It returns an object promise containing the AuctionCompletedEvent provided by the Ternoa blockchain.

info

Use your own account by updating the //TernoaTestAccount with your account seed when retrieving the keyring from the example below. Replace the NFT_ID with the existing one to end. Note: This transaction can only be submitted if the auction has entered the ending period.

import {
    endAuction,
    initializeApi,
    getKeyringFromSeed,
    WaitUntil,
} from "ternoa-js";

const endAuctionNFT = async () => {
    try {
        await initializeApi();
        const keyring = await getKeyringFromSeed("//TernoaTestAccount");
        const NFT_ID = // update with the auctioned nft id you want to end.
        const res = await endAuction(
            NFT_ID,
            keyring,
            WaitUntil.BlockInclusion
        );
        console.log(`Auction ended for NFT id: ${res.nftId}`);
    } catch (e) {
        console.error(e);
    }
};

The expected params​

`nftId`: The ID of the auctioned NFT to end.
`keyring`: The provided keyring (containing the address) will be used to sign the transaction and pay the execution fee.
`waitUntil`: WaitUntil define at which point we want to get the results of the transaction execution: BlockInclusion or BlockFinalization.

Response​

The response provided from the blockchain event includes all the informations below according to the params provided when ending an auction.

`nftId`: NFT id auctioned.
`newOwner`: The new NFT owner.
`amount`: The NFT price as a string corresponding to the value in big number.
`amountRounded`: The NFT price as number.
`marketplaceCut`: The marketpace commission fee on the auctioned NFT as a string corresponding to the value in big number.
`marketplaceCutRounded`: The marketpace commission fee on the auctioned NFT as number.
`royaltyCut`: The NFT creator royalty fee on the auctioned NFT as a string corresponding to the value in big number.
`royaltyCutRounded`: The NFT creator royalty fee on the auctioned NFT as number.

Support​

If you face any trouble, feel free to reach out to our community engineers in our Discord.