Aztec Token Sale Nets $61M Amid Community-First Approach

Aztec Network's public token sale concluded on Saturday, raising $61.3 million from over 16,700 participants.

The sale used a Continuous Clearing Auction mechanism built with Uniswap Labs and collected 19,476 Ethereum, which is approximately half of the capital that came from Aztec's existing community.

Aztec said it avoided the airdrop model in favor of a fair-access auction, which included per-user caps of 240 Ethereum to limit whale concentration during the sale.

The mechanism allowed for slow and fair price discovery, with participants having days to bid earlier and secure a better average price, according to Uniswap founder Hayden Adams.