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@@ -11,6 +11,24 @@ Collateral backed stablecoin with low volatility redemption price (based-off Dai
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In order for the Nun governing Dao community to vote on proposals using [Darkfi dao](https://darkrenaissance.github.io/darkfi/spec/dao/index.html), it's needed to commit to protocol proposal statements hash, or collateral vault contract call data, otherwise passed proposals could be faked.
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+## Blind auction
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+### Initialization
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+Auction initiate contract for storing commitment to auction duration, bids, bid opening time limit, winning proof.
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+### Bid commitment
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+Bidders commit to bid x as through homomorphically encrypted commitment with blind term r as cm(x,r).
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+### Bid opening
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+Opening bid x, and bliding term r with the Auctioneer using it's public key
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+### winning proof
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+Bids can be sorted by homomorphic property $cm_{i,j}$ = $\frac{cm_i}{cm_j}$ = $cm(x_i-x_j)$, the order can serve as winning zk proof.
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## Price oracle
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Although price oracle can be challenging in anonymous exchange, renegade[^1] dark pool reveal price midpoint pair at match phase, and can be used as price oracle.
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ertosns