BlockBeats News, February 2nd, Cryptocurrency wallet Rainbow released the RNBW token subscription rules for the CCA launch on Uniswap. The pre-subscription will start at 23:00 on February 2nd Beijing time and will last until 23:00 on February 3rd, simultaneously initiating the CAA mechanism auction, which will end at 23:00 on February 5th.
Each block sets a single clearing price. When the clearing price ≤ the user’s highest bid, the order is executed. The starting price is $0.1 per token, with a fully diluted market cap of $100 million, an implied market cap of around $19 million, a total sale volume in the CCA mechanism of 5 million tokens (0.5% of the supply), with payment in USDC.
After the event, CCA participants can claim RNBW tokens on Uniswap, and RNBW airdrop rewards can be claimed in the mobile app. Non-U.S. CoinList participants will receive the tokens directly, which will later be available for trading on Base and centralized exchanges.
