Aztec Network will use Uniswap Labs’s Continuous Clearing Auction to ensure broad participation from day one
Layer-2 solution Aztec Network announced the launch of its token sale, with registration for the token sale already open. The token sale will leverage Uniswap Labs’s Continuous Clearing Auction (CCA) for fair access.
“Fair, community access should be the foundation of token launches,” said Zac Williamson, Co-Founder of Aztec Labs. “Given that the current system heavily favours insiders and whales over long-standing community members, CCA will flip the industry on its head.”
The CCA protocol offers a starting floor price based on a US$350 million fully diluted valuation, and features per-user participation caps to address the current challenges in token distribution.
Joe Andrews, President and Co-founder at Aztec Labs, said: “This launch is a first for Ethereum; we have incorporated zero-knowledge proofs into the sale smart contracts by using ZkPassport’s Noir circuits to ensure compliant sanctions checks without a user risking their passport details being leaked in a data breach. This is an exciting preview of what is enabled with programmable privacy on a blockchain.”
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