4626.fun

Glossary

Continuous Clearing Auction (CCA)

A Uniswap V4-based price-discovery mechanism that distributes a token gradually over a fixed window. The mechanism resists sniping and abrupt opening price moves by spreading price discovery across many blocks instead of a single launch transaction.

CCA is the distribution mechanic used at vault launch on 4626.fun. Private beta on Base — The listed AKITA vault was unfunded at the September 25, 2026 verification block. Auction outcomes may be unfavorable; see /risks.

How it works on 4626.fun

Duration7 days from auction start.
Allocation at finalize25% creator vesting · 25% Solana · 12.5% Base auction · 12.5% Base LP · 25% spoke inventory. The CCA sells the Base auction slice of ■, not 40% of supply.
PricingContinuous price discovery via Uniswap V4 hook logic. No single moment-in-time clearing — buyers and sellers transact across the full window.
AccessOpen to the public. Wallet-based participation. No KYC at the auction layer.
SettlementAt auction completion, remaining unsold supply seeds the LP alongside protocol-owned liquidity.

Why a CCA instead of a bonding curve or fair-launch race?

Gradual price discovery

A bonding curve concentrates buying pressure at the front. A fair-launch race rewards the fastest bot. A CCA spreads price discovery across a multi-day window — slower, more deliberate, and less vulnerable to MEV-driven launch pumps.

Permanent liquidity at exit

The auction's terminal state seeds a full-range Uniswap V4 LP that's never withdrawn. The share token has a deep, permanent venue from day one — not a thin pool that exits after the launch crowd leaves.

See also

ERC-4626

The standard the share token implements.

Docs

Auction mechanics, hook logic, and integration details.