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Rainbow to Launch CCA Auction on Uniswap Ahead of RNBW Token Release

The auction begins February 2 with proceeds used as on-chain liquidity for RNBW, followed by a February 5 token generation event allocating 15% to airdrops.

UNI

Summary

Rainbow will initiate a CCA (continuous collateral auction) mechanism auction on the decentralized exchange Uniswap on February 2, directing all proceeds to on-chain liquidity for its RNBW token. The RNBW token generation event will take place on February 5, with 15% of the total supply allocated to airdrops. The total token supply is set at 1 billion.

Terms & Concepts
  • CCA (continuous collateral auction): A method where assets are sold gradually over time to optimize price discovery and liquidity generation.
  • On-chain liquidity: Assets available within a blockchain ecosystem to facilitate smooth trading and transactions without relying on external markets.
  • Token generation event: The official creation and distribution of a cryptocurrency's supply, often marking its launch and initial allocation.