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FixedTermAuction

Origination window for a fixed-term market whose terms are only obtainable during a bounded round rather than continuously — Term Finance (fixedTerm.provider.kind = "auction"). Served on fixedTerm.auction; ABSENT on lenders whose terms are continuously available, and absent is NOT the same as closed.

This is the difference between "the rate card is empty right now" and "this market cannot be borrowed at all": between rounds a Term repo still has a maturity, collateral params and a last-cleared rate, but nothing can be borrowed. Most repos are between rounds at any given time.

statusstring

upcoming — a round is listed but not yet accepting submissions. open — accepting sealed bids/offers. revealing — bidding shut, sealed prices revealing and the round clearing. closed — no round is listed. Snapshot at fetch time; re-derive from the timestamps against the current clock when reading a cached response.

Possible values: [upcoming, open, revealing, closed]

Example: open
canBorrowboolean

Can a NEW borrow be opened right now? Gate the borrow CTA on this, not on status and not on the presence of a rate — it stays correct if more statuses are added. True only inside an open round: Term borrow origination is a sealed bid, so there is no other entry point.

Example: true
canLendboolean

Can a NEW lend position be opened right now? Deliberately independent of canBorrow — the primary auction is only one of two lend surfaces, and buying repo tokens on the secondary market works between rounds. A closed round therefore leaves the market lend-only, not inert; greying out the whole market would be wrong.

Example: true
secondsUntilCloseintegernullable

Seconds until submissions close (revealTime − now). Absent unless a round is open. A snapshot — for a live countdown derive from revealTime, since responses are cached.

Example: 263000
implicationsstring[]

Ready-to-display consequences of this market's origination model, most important first (same convention as params.market.teller.implications). Auction mechanics are unusual enough that showing only a rate misleads.

idstringnullable

Auction round id. Absent when status: "closed".

startTimeintegernullable

Submissions open, unix seconds. Absent when closed.

revealTimeintegernullable

Submissions CLOSE and sealed prices begin revealing, unix seconds — the deadline to act. Absent when closed.

endTimeintegernullable

Round clears, unix seconds. Equal to revealTime on current deployments. Absent when closed.

minBorrowAmountstringnullable

Minimum bid (borrow) size for this round, loan-token BASE units. A real floor (e.g. "1000000000" = 1000 USDC) — a smaller amount cannot be submitted at all, so validate before building the action rather than surfacing a failed transaction.

Example: 1000000000
minLendAmountstringnullable

Minimum offer (lend) size for this round, loan-token BASE units.

Example: 1000000000
FixedTermAuction
{
  "status": "open",
  "canBorrow": true,
  "canLend": true,
  "secondsUntilClose": 263000,
  "implications": [
    "string"
  ],
  "id": "string",
  "startTime": 0,
  "revealTime": 0,
  "endTime": 0,
  "minBorrowAmount": "1000000000",
  "minLendAmount": "1000000000"
}