___   
   /\__\  
  /:/__/_ 
 /::\/\__\
 \/\::/  /
   /:/  / 
   \/__/  

How to Participate in a Name Auction

First we should look at the current status of a name we want.

$ hsd-cli rpc getnameinfo handshake

Once we know the name is available, we can send an “open transaction”, this is necessary to start the bidding process. After an open transaction is mined, there is a short delay before bidding begins. This delay is necessary to ensure the auction’s state is inserted into the [urkel] tree.

# Attempt to open bidding for `handshake`.
$ hsw-cli rpc sendopen handshake

Using getnameinfo we can check to see when bidding will begin. Once the auction enters the bidding state, we can send a bid, with a lockup-value to conceal our true bid.

# Send a bid of 5 coins, with a lockup value of 10 coins.
# These units are in HNS (1 HNS = 1,000,000 dollarydoos).
$ hsw-cli rpc sendbid handshake 5 10

After the appropriate amount of time has passed, (1 day in the case of testnet), we should reveal our bid.

# Reveal our bid for `handshake`.
$ hsw-cli rpc sendreveal handshake

We can continue monitoring the status, now with the wallet’s version of getnameinfo:

$ hsw-cli rpc getnameinfo handshake
# To see other bids and reveals
$ hsw-cli rpc getauctioninfo handshake

If we end up losing, we can redeem our money from the covenant.

$ hsw-cli rpc sendredeem handshake

If we won, we can now register and update the name using sendupdate.

$ hsw-cli rpc sendupdate handshake \
 '{"records": [{"type": "GLUE4", "ns": "ns1.handshake.", "address": "1.2.3.4"}]}'

Formatting examples for each record type are listed here.

Renewals on mainnet are required within about two years!

$ hsw-cli rpc sendrenewal handshake

See a mistake? Open a pull request.