Aztec Network raised $59 million in its AZTEC public sale using the first deployment of the Continuous Clearing Auction (CCA) — a new mechanism for token launches built with Uniswap.

Aztec noted that 19,388 ETH was committed in the sale from 16,741 participants, with more than half the capital coming from the Aztec community.

This story is an excerpt from the Unchained Daily newsletter.

The sale ran from Dec. 2 to Dec. 6, marking Uniswap’s first CCA implementation on v4, which distributed 14.95% of Aztec’s total token supply and resulted in a final fully diluted valuation (FDV) of $557 million.

“No sniping, bundling, timing games. Just slow, fair price discovery ending at 59% above the floor —  with literally days to bid earlier and get a better average price,” said Uniswap founder Hayden Adams on X.

CCA enabled fair price discovery by splitting bids across timed blocks, clearing at uniform prices to prevent sniping or gas wars, and integrated ZK Passport for private, verifiable participation checks.

Tokens also became available for staking post-sale, requiring sequencers to hold 200,000 AZTEC. As of late Sunday evening, over 570 million AZTEC tokens were staked.

We talked about the mechanics of the sale on this episode of Unchained: