minor spec updates

x/auction/spec/01_concepts.md

@@ -2,8 +2,8 @@
 
 Auctions are broken down into three distinct types, which correspond to three specific functionalities within the CDP system.
 
-* **Surplus Auction:** An auction in which a fixed lot of coins (c1) is sold for increasing amounts of other coins (c2). Bidders increment the amount of c2 they are willing to pay for the lot of c1. After the completion of a forward auction, the winning bid of c2 is burned, and the bidder receives the lot of c1. As a concrete example, forward auction are used to sell a fixed amount of USDX stable coins in exchange for increasing bids of KAVA governance tokens. The governance tokens are then burned and the winner receives USDX.
+* **Surplus Auction:** An auction in which a fixed lot of coins (c1) is sold for increasing amounts of other coins (c2). Bidders increment the amount of c2 they are willing to pay for the lot of c1. After the completion of a surplus auction, the winning bid of c2 is burned, and the bidder receives the lot of c1. As a concrete example, surplus auction are used to sell a fixed amount of USDX stable coins in exchange for increasing bids of KAVA governance tokens. The governance tokens are then burned and the winner receives USDX.
-* **Debt Auction:** An auction in which a fixed amount of coins (c1) is bid for a decreasing lot of other coins (c2). Bidders decrement the lot of c2 they are willing to receive for the fixed amount of c1.  As a concrete example, reverse auctions are used to raise a certain amount of USDX stable coins in exchange for decreasing lots of KAVA governance tokens. The USDX tokens are used to recapitalize the cdp system and the winner receives KAVA.
+* **Debt Auction:** An auction in which a fixed amount of coins (c1) is bid for a decreasing lot of other coins (c2). Bidders decrement the lot of c2 they are willing to receive for the fixed amount of c1. As a concrete example, debt auctions are used to raise a certain amount of USDX stable coins in exchange for decreasing lots of KAVA governance tokens. The USDX tokens are used to recapitalize the cdp system and the winner receives KAVA.
-* **Surplus Reverse Auction:** An two phase auction is which a fixed lot of coins (c1) is sold for increasing amounts of other coins (c2). Bidders increment the amount of c2 until a specific `maxBid` is reached. Once `maxBid` is reached, a fixed amount of c2 is bid for a decreasing lot of c1. In the second phase, bidders decrement the lot of c1 they are willing to receive for a fixed amount of c2. As a concrete example. forward reverse auctions are used to sell collateral (ATOM, for example) for up to a `maxBid` amount of USDX. The USDX tokens are used to recapitalize the cdp system and the winner receives the specified lot of ATOM. In the event that the winning lot is smaller than the total lot, the excess ATOM is ratably returned to the original owners of the liquidated CDPs that were collateralized with that ATOM.
+* **Surplus Reverse Auction:** Are two phase auction is which a fixed lot of coins (c1) is sold for increasing amounts of other coins (c2). Bidders increment the amount of c2 until a specific `maxBid` is reached. Once `maxBid` is reached, a fixed amount of c2 is bid for a decreasing lot of c1. In the second phase, bidders decrement the lot of c1 they are willing to receive for a fixed amount of c2. As a concrete example, collateral auctions are used to sell collateral (ATOM, for example) for up to a `maxBid` amount of USDX. The USDX tokens are used to recapitalize the cdp system and the winner receives the specified lot of ATOM. In the event that the winning lot is smaller than the total lot, the excess ATOM is ratably returned to the original owners of the liquidated CDPs that were collateralized with that ATOM.
 
 Auctions are always initiated by another module, and not directly by users. Auctions start with an expiry, the time at which the auction is guaranteed to end, even if there have been no bidders. After each bid, the auction is extended by a specific amount of time, `BidDuration`. In the case that increasing the auction time by `BidDuration` would cause the auction to go past its expiry, the expiry is chosen as the ending time.

x/auction/spec/02_state.md

@@ -30,9 +30,6 @@ type GenesisState struct {
 type Auction interface {
 	GetID() uint64
 	WithID(uint64) Auction
-	GetBidder() sdk.AccAddress
-	GetBid() sdk.Coin
-	GetLot() sdk.Coin
 	GetEndTime() time.Time
 }
 

x/auction/spec/03_messages.md

@@ -9,8 +9,7 @@ Users can bid on auctions using the `MsgPlaceBid` message type. All auction type
 type MsgPlaceBid struct {
 	AuctionID uint64
 	Bidder    sdk.AccAddress
-	Bid       sdk.Coin
+	Amount    sdk.Coin
-	Lot       sdk.Coin
 }
 ```
 
@@ -18,16 +17,16 @@ type MsgPlaceBid struct {
 
 * Update bidder if different than previous bidder
 * For Surplus auctions:
-  * Update Bid Amount
+  * Update Bid to msg.Amount
   * Return bid coins to previous bidder
   * Burn coins equal to the increment in the bid (CurrentBid - PreviousBid)
 * For Debt auctions:
-  * Update lot amount
+  * Update Lot amount to msg.Amount
   * Return bid coins to previous bidder
 * For Collateral auctions:
   * Return bid coins to previous bidder
   * If in forward phase:
-    * Update bid amount
+    * Update Bid amount to msg.Amount
   * If in reverse phase:
-    * Update lot amount
+    * Update Lot amount to msg.Amount
-* Extend auction by `BidDuration`, or `MaxEndTime`
+* Extend auction by `BidDuration`, up to `MaxEndTime`