GuideProjects2 min read
FRAY: KEEL’s auction system
One bidder and a collective of patrons compete under published rules. The result decides how the work is released.
Select an underlined word to see what it means.
In this guide
The collective can’t reach the price yet. The single bidder still leads, so the work would go to them as a one-of-one.
One collector or a collective.
The auction brings one bidder and a collective of patrons into one contest. If the bidder wins, the work is released as a one-of-one. If the collective wins, it is released as an edition shared among them.
The DieThe artist's token contract. It records the Slabs, their owners or balances, supply, and presentation bindings.For exampleA Die can issue a series of 100 individually identified works.Full glossary entry → and minting rules issue the resulting SlabThe collectible token recorded in your wallet. It identifies an owned item and points to its work.For exampleYou collect Tidal Study #7. That token is your Slab; the artwork files have their own storage records.Full glossary entry →. The auction determines the outcome; it does not itself prove the artwork’s bytes.
The collective has to reach the price together.
Each patron sets the most they are willing to pay, called a cap. Everyone in the collective pays the same share, so the contract checks which patrons can afford that equal share. Adding up everyone’s maximum is not how it works.
Technical detail: how the equal share is worked out
For n patrons who all have the same cap, the collective can pay n times the cap. In the standard pricing rule (economic mode), the price is divided equally among the patrons who can afford their share, and each share is rounded to the contract’s smallest unit. Other pricing rules work differently. The published terms and the final contract result decide what each person can claim.
The auction fits into the engine.
The auction determines the release outcome. The DieThe artist's token contract. It records the Slabs, their owners or balances, supply, and presentation bindings.For exampleA Die can issue a series of 100 individually identified works.Full glossary entry → and authorized minting rules issue the resulting collectibles. The HoldKEEL's native onchain storage for the file bytes and the instructions for joining them back together.For exampleYour sketch and its shared drawing library are stored as separate objects in the Hold.Full glossary entry →, ShellThe opening program and interface around creator content. The canonical KEEL verification shell owns the protected checks and K controls.For exampleOpen the K control to inspect the files and checks behind the displayed work.Full glossary entry →, and verification system keep their own jobs.
This guide covers the FRAYKEEL's auction contest between an individual bidder and a collective of patrons. The separate FRAY game project uses KEEL too.For exampleThe published auction rules decide whether a unique-work or edition outcome is issued.Full glossary entry → auction. Auction settlement does not itself prove that an artwork’s files were recovered or checked.
KEEL contract boundary: FrayAuctionIssuer
FrayAuctionIssuer in keel-mint-access lets the configured auction house select between pre-reserved unique and edition outcomes. It checks factory records and mint routes. It does not own bidding, ranking, payouts, tokenURI, or artist presentation. Those remain with the auction system and the relevant KEEL contracts.