The first Uniswap CCA auction has ended, with total bids reaching $59 million. The funds will be used to provide initial liquidity for the v4 pool.

On December 8, Uniswap founder Hayden Adams announced yesterday, “Uniswap’s first CCA auction has concluded, with a total of $59 million in bids. No sniping, no bundling, no timing games. Just a slow, transparent, and fair price discovery process, with the final price 59% above the reserve price—and bidders actually had several days to bid earlier and get a better average price. Even if you bid on the first day at a $10 billion FDV, you wouldn’t be ‘overpaying’; instead, you’d get a blended DCA price between the reserve and final clearing price. Now, most of the funds and token reserves from this auction will be used to provide initial liquidity for Uniswap v4 pools, becoming the primary source of secondary market liquidity.” As previously reported by BlockBeats, on November 13, Uniswap launched the Continuous Clearing Auction (CCA) protocol to bootstrap liquidity and issue tokens for Uniswap v4.