Uniswap founder: The first auction of Uniswap CCA has ended, with bids reaching $59 million.
AI Summary1 min read
TL;DR
Uniswap's first CCA auction ended with $59 million in bids, achieving a 59% premium over reserve price. The fair process avoided sniping and timing games, with proceeds funding the new Uniswap v4 liquidity pool.
Tags
Yield FarmingDecentralized Exchange (DEX) TokenDeFiUniswapCCA auctionAztec Networkliquidity poolcryptocurrency
According to Mars Finance, Uniswap founder Hayden Adams posted on the X platform that the first auction of Uniswap CCA initiated by the Aztec Network project has concluded, with a total bidding amount of $59 million. The auction process was free of sniping, bundling, or timing games; instead, it involved a slow and fair price discovery, ultimately resulting in a sale price 59% above the reserve price. A portion of the auction proceeds and token reserves will be used to launch the Uniswap v4 liquidity pool, which will become the largest source of secondary market liquidity.