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. Pre-launch — not yet live. Auction outcomes may be unfavorable; see /risks.

How it works on 4626.fun

Duration7 days from auction start.
Allocation40% of newly minted vault share tokens go through the CCA. 40% vests linearly to the creator over 12 months. 20% seeds a permanent Uniswap V4 LP.
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The auction's terminal state seeds a full-range Uniswap V4 LP that's never withdrawn.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.