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Implement Auction Cancellation for Zero-Bid Auctions to Prevent Locked Assets #28

@VishwajeetTulse

Description

@VishwajeetTulse

Issue Description:

Summary

Currently, auctioneers have no mechanism to cancel an auction once it has been created, even if no bids have been placed. This results in assets being locked in the contract until the auction deadline passes, creating a poor user experience and potential capital inefficiency.

Problem Details

Affected Files:

  • contracts/EnglishAuction.sol
  • contracts/AllPayAuction.sol
  • contracts/VickreyAuction.sol
  • All Dutch Auction variants

Current Behavior:
Once createAuction is called, the asset (NFT or Token) is transferred to the contract. If the auctioneer makes a mistake (e.g., wrong starting price, wrong asset, typo in description) or if market conditions change, they must wait for the entire duration to expire before they can claim their asset back via the claim() function (assuming no bids were placed).

Impact

Severity: Medium (UX/Capital Efficiency)

  1. Locked Capital: Assets are stuck for the full duration of the auction.
  2. Poor UX: Honest mistakes during creation cannot be rectified immediately.
  3. No "Pull" Mechanism: If an auction receives zero interest, the auctioneer cannot simply "delist" it without waiting.

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