The $AZTEC token sale leverages @Uniswap's new Continuous Clearing Auction (CCA).
CCA is entirely onchain and promotes transparency and fair price discovery.
Every bid that meets or exceeds the clearing price will receive tokens.
🧵
Why Early Participation Matters:
Participants who bid earlier are more likely to receive allocations at lower prices.
Once demand surpasses the level required to clear the available token supply, later-clearing bids will settle at higher prices.
How Bidding Works:
Each bidder indicates a budget and an optional maximum FDV, or accepts market price.
As the auction runs, tokens are continuously allocated to all bids priced at or above the clearing price.
Clearing Price:
The auction starts at a $350M FDV floor.
This remains the clearing price until cumulative demand exceeds the tokens available.
When demand > supply, the clearing price rises, ensuring market-driven price discovery.
Bidding Window:
The public sale runs from Dec 2-6. More tokens are allocated for the opening and closing days.
Participants may place bids at any time. Each bid is automatically spread pro-rata across all remaining days of the auction.
In summary:
- CCA ensures any bid at or above the clearing price is filled
- As demand increases, the clearing price increases
- CCA is entirely onchain, open, and designed for fairness from the start
10.46K
60
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.