Decentralised finance platform Uniswap has just launched a new protocol for 'fair token launches'.

It's called Continuous Clearing Auctions (CCA), and it's designed to 'streamline' token sales and 'bootstrap' liquidity.

Translated, it wants to promote on-chain mechanisms and transparency, and keep off-chain deals out.

The system includes a variety of features, from gradual price discovery to automated bidding.

Also, bids specify max price and spend, and each block clears at the highest sold price.

That's not a bad idea, and clearly the market seems to think so considering Uniswap has been doing fine.

About Uniswap

Uniswap was launched in 2018 as a decentralised crypto exchange built on Ethereum.

Uniswap pioneered the use of smart contracts on a decentralised exchange.

At the time of writing, Uniswap is the third largest DEX (after Magma Finance and PancakeSwap), with a daily trading volume in excess of $1.2 billion and 1,151 coins.