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HushBid

HushBid is a sealed-bid auction protocol where bids are encrypted and settled inside Chainlink CRE and private transaction. Nobody sees the bids.

Privacy CRE & AI Risk & Compliance World Tenderly

What it is

HushBid is a sealed-bid auction protocol for on-chain assets.
The core problem:
On-chain auctions are transparent, so every bid is publicly visible the moment it's submitted. This causes front-running, bid sniping, and strategic manipulation. Bidders react to what others bid instead of bidding what they believe an asset is worth. True price discovery is impossible.
HushBid fixes this by encrypting bids with the DON's ECIES public key, depositing tokens through the Convergence Privacy Vault (shielding payment amounts from on-chain observers), pinning encrypted metadata to IPFS, and committing only a hash on-chain. No bid amounts are ever visible on the blockchain.
When bidding ends, the CRE workflow fetches encrypted bids from IPFS using ConfidentialHTTPClient (credentials never leave the TEE), decrypts them with the DON's private key, normalizes multi-token bids to USD via Chainlink Data Feeds, reaches DON consensus on the winner, and submits a signed settlement transaction on-chain.
The result? A fair auction where the true market price emerges because every bidder submits what they genuinely think the asset is worth.
Key features include

  • Two privacy levels (Full Private, Auditable for compliance)
  • Shielded addresses for unlinkable winner delivery
  • Multi-token support (ETH, WETH)
  • World ID Sybil resistance, and
  • An AI agent that autonomously monitors auctions and triggers CRE settlement.

How it Works

The whole application is made up of:

  • Solidity smart contracts (deployed on Ethereum Sepolia),
  • TypeScript SDK that other devs can use,
  • Chainlink CRE workflow
  • React demo frontend (showing the whole flow and how to use the sdk).
  • An AI agent layer (Node.js + Groq/Llama 3.3 70B) that does some reasoning plus CRE workflow execution for autonomous settlement.
  • Bid payments flow through the Convergence Privacy Vault for shielded ERC-20 transfers. Encrypted bid metadata is stored on IPFS via Pinata.

Links

Created by

  • Katty