> ## Documentation Index
> Fetch the complete documentation index at: https://docs.tessera.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Events

> Every event the protocol emits, in the order it appears, with indexed fields and schemas.

The protocol emits 11 distinct event types across the auction lifecycle, plus a 12th for terminal cancellation. A successful auction produces 11 events across 2 transactions. A rejected-then-settled auction produces \~14 events across 2 transactions.

The event design is intentional and reflects the auditability requirements of permissioned finance: every state transition is logged, every compliance decision is logged, every capital movement is logged. The audit trail is the product.

## Lifecycle order

| #  | Event                    | Tx                   | Indexed               |
| -- | ------------------------ | -------------------- | --------------------- |
| 1  | `AuctionInitialized`     | createAuction        | `auctionId`           |
| 2  | `AuctionActivated`       | createAuction        | `auctionId`           |
| 3  | `BidAttempted`           | bid                  | `auctionId`, `solver` |
| 4  | `ComplianceCheckStarted` | bid                  | `auctionId`, `solver` |
| 5  | `ComplianceChecked`      | bid                  | `auctionId`, `solver` |
| 6  | `BidRejected`            | bid (rejection only) | `auctionId`, `solver` |
| 7  | `SettlementStarted`      | bid (settlement)     | `auctionId`           |
| 8  | `SettlementPulled` (×2)  | bid (settlement)     | `auctionId`           |
| 9  | `SettlementDistributed`  | bid (settlement)     | `auctionId`           |
| 10 | `SettlementPushed`       | bid (settlement)     | `auctionId`, `solver` |
| 11 | `AuctionSettled`         | bid (settlement)     | `auctionId`, `solver` |
| 12 | `AuctionEnded`           | cancelAuction        | `auctionId`           |

A failed-only flow emits 1, 2, then (3, 4, 5, 6) per rejection attempt, then 12 at cancellation.

A successful flow emits 1, 2, then (3, 4, 5) for the winner, then 7, 8, 8, 9, 10, 11.

## Event schemas

```solidity theme={null}
event AuctionInitialized(
  bytes32 indexed auctionId,
  address indexed lender,
  address collateralToken,
  uint256 amount,
  uint96 startPrice,
  uint96 floorPrice,
  uint40 deadline
);

event AuctionActivated(bytes32 indexed auctionId);

event BidAttempted(
  bytes32 indexed auctionId,
  address indexed solver,
  uint96 currentPrice
);

event ComplianceCheckStarted(
  bytes32 indexed auctionId,
  address indexed solver,
  address registry
);

event ComplianceChecked(
  bytes32 indexed auctionId,
  address indexed solver,
  bool passed
);

event BidRejected(
  bytes32 indexed auctionId,
  address indexed solver,
  bytes32 reason
);

event SettlementStarted(
  bytes32 indexed auctionId,
  bytes32 adapter
);

event SettlementPulled(
  bytes32 indexed auctionId,
  address from,
  address to,
  uint96 amount,
  bytes4 purpose  // "lender" | "fee"
);

event SettlementDistributed(
  bytes32 indexed auctionId,
  uint96 toLender,
  uint96 toFeeRecipient
);

event SettlementPushed(
  bytes32 indexed auctionId,
  address indexed solver,
  uint256 collateralAmount
);

event AuctionSettled(
  bytes32 indexed auctionId,
  address indexed solver,
  uint96 clearingPrice,
  uint96 lenderProceeds,
  uint96 protocolFee
);

event AuctionEnded(
  bytes32 indexed auctionId,
  uint8 status  // Failed | Cancelled
);
```

## Rejection reasons

`BidRejected.reason` is a `bytes32` identifier:

| Reason                   | Meaning                                                 |
| ------------------------ | ------------------------------------------------------- |
| `"not_compliant"`        | Solver failed identity registry verification            |
| `"insufficient_balance"` | Solver's settlement-balance was below clearing price    |
| `"strategy_missing"`     | Solver hasn't registered a strategy for the asset class |

The pattern is forward-compatible: indexers should treat unknown reasons as *"rejection, reason X"* rather than as protocol errors.

## Why so many events

Three things must be auditable:

* **Every state transition.** No invisible state changes.
* **Every compliance decision.** Both passes and rejections produce on-chain records.
* **Every capital movement.** Lender proceeds, fee, and collateral push all have distinct events.

This produces a small per-auction gas overhead. We treat that as a feature, not a cost.