Uniswap founder Hayden Adams: Celebrities issue coins with CCA

Uniswap founder Hayden Adams stated that if celebrities want to issue meme coins without failing, they should use Uniswap's continuous liquidation auctions; this mechanism discovers market pricing from the start, injects deep liquidity at that price, and resists being targeted, otherwise they will still incur unnecessary losses in the dark forest.

The continuous liquidation auction transforms the uniform price auction into a continuous time format: the project party sets the supply, floor price, duration, and auction currency (Ethereum or USD stablecoin), with bids split by remaining blocks, each block liquidated at the highest price that can sell out the block's quota, with orders above the liquidation price executed first, and same-price orders executed proportionally. After the auction ends, the raised funds and reserved tokens automatically create a pool on Uniswap v4 at the discovered price. The contract has been deployed on Ethereum, Unichain, Arbitrum, and Base, and new coins or existing tokens in the auction wallet can be created on the web without writing contracts.

The first auction, completed by Aztec in November 2025, had a public bid of approximately $59 million to $60 million, with over 17,000 bidders, and no targeting or automated manipulation detected, with the closing price about 59% higher than the floor price; even if the first day saw bids at extremely high fully diluted valuations, transactions would still fall between the average price of the floor and liquidation prices. After the web application, the auction page will be placed in the exploration bar. There is also an optional zero-knowledge passport module for verifiable participation. Imitations of other artists' tracks are not included in this auction design; the typical celebrity meme coin auction previously involved internal trading plus robots sniping the first liquidity.

Buyers are looking for a publicly discovered price and do not want to hand their positions over to sniping robots, while sellers are the Uniswap auction contract and the subsequent v4 pool. The driving force is the losses from celebrities issuing coins being repeatedly targeted, not the launch of new public chains. Funds from bids enter an automated market-making pool. The beneficiaries are trading pairs that obtain initial depth at the discovered price; those under pressure are robots that profit from the first price difference based on memory pool sorting and privately allocated internal trading.

Source: Public information