Token

Uniswap

Aztec

<p><a href="https://x.com/Uniswap" rel="noopener noreferrer nofollow">@Uniswap</a> has made it possible for any team to configure and run a public token auction directly from its web app, with no smart-contract deployment or developer resources required. <cite>Starting now, teams can configure and launch a Uniswap Auction directly from the Uniswap Web App.</cite> The feature is built on Uniswap's Continuous Clearing Auction (CCA) protocol, <cite>a permissionless protocol designed to help teams bootstrap liquidity on Uniswap v4 and find the market price for new and low-liquidity tokens.</cite></p>
<h2 id="how-the-auction-mechanism-works">How the auction mechanism works</h2>
<p><cite>Projects start by defining how many tokens to sell, a starting price, and how long the auction will run. They can also customise with options like running in tranches, adding verification tools such as ZK Passport, or building entirely new modules on top of the platform.</cite><cite>Each bid is automatically spread across the remaining blocks of the auction using the same maximum price for every split. A bid only fills if the block's clearing price is at or below the bidder's limit. At the end of each block, the protocol sets a single market-clearing price, the highest price at which all tokens for that block can be sold.</cite></p>
<p><cite>Supply clears continuously over time to reduce sniping, limit volatility, and converge toward a price shaped by demand. When the auction ends, liquidity is automatically created on Uniswap v4 at the discovered price.</cite><cite>For token teams, the Auctions tab means CCAs automatically have an interface for users to participate in token auctions, with no time spent building bespoke frontends or testing custom interfaces.</cite><cite>The CCA protocol contracts are live on Ethereum, Unichain, Arbitrum, and Base.</cite></p>
<h2 id="aztec-shows-what-is-possible">Aztec shows what is possible</h2>
<p><cite>In November 2025, Aztec ran the first token distribution using a Continuous Clearing Auction, raising $60 million from more than 17,000 bidders with no instances of sniping or automated manipulation detected. The entire auction happened fully onchain, giving participants a real-time view into how the market formed.</cite></p>
<p><cite>Liquidity formation often happens behind closed doors, creating information gaps and thin, unstable markets once tokens trade openly. With CCA, auctions run fully onchain, with transparent pricing, bidding, and settlement.</cite><cite>CCAs were not built for a single use case. They can be used to distribute supply, bootstrap liquidity, or establish a market price for assets with limited existing liquidity.</cite></p>
<p><strong>Sources</strong><br><a href="https://blog.uniswap.org/token-auctions-are-coming-to-the-uniswap-web-app" rel="noopener noreferrer nofollow">Uniswap Labs: Token Auctions Are Coming to the Uniswap Web App</a><br><a href="https://www.theblock.co/post/387505/uniswap-roll-out-continuous-clearing-auctions-frontend-reshaping-token-launch-process" rel="noopener noreferrer nofollow">The Block: Uniswap to Roll Out Continuous Clearing Auctions on Main Frontend</a><br><a href="https://blog.uniswap.org/continuous-clearing-auctions" rel="noopener noreferrer nofollow">Uniswap Labs: Continuous Clearing Auctions, Bootstrapping Liquidity on Uniswap v4</a></p>

Uniswap turns token launches into a few clicks, no coding required

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