A leading DEX concludes its first CCA auction: $59 million in bids, with the final price at a 59% premium.

[BlockBeats] The founder of a leading DEX, Hayden Adams, recently revealed a pretty explosive figure—their first CCA auction directly received bids totaling $59 million.

What’s the most interesting part about this auction? There were none of those headache-inducing on-chain sniping, MEV bundling, gas wars, or other shenanigans. The whole process played out like a slow-motion replay, so everyone could see exactly how the price climbed step by step. The final transaction price soared 59% above the starting price, and participants had several days to plan their moves at their own pace.

Looking at it from another angle, even if you jumped in on the first day at a $10 billion FDV valuation, you wouldn’t be left holding the bag. That’s because this mechanism gives you an average transaction price between the starting price and the final clearing price, essentially automating a DCA (dollar-cost averaging) strategy for you.

Even more crucially, this money and the corresponding token reserves will be directly injected into the v4 liquidity pool. In other words, these funds will become the main force behind secondary market liquidity.

To recap, this Continuous Clearing Auction (CCA) protocol is a brand-new feature introduced in mid-last month, specifically designed for the v4 liquidity launch and token issuance. Judging by the results, the first round has been a definite success.