TechFlow reports that, according to an official announcement on February 2, the Rainbow wallet’s token $RNBW will be auctioned via Uniswap’s CCA (Constant Function Market Maker Continuous Auction).
Auction timing is as follows: Pre-bidding opens at 10:00 a.m. ET on February 2 and closes at 10:00 a.m. ET on February 3, when the official auction begins; the auction concludes at 10:00 a.m. ET on February 5. The auction starts at $0.10 per $RNBW, implying a fully diluted valuation of $100 million (with an implied market cap of approximately $19 million). A total of 5 million $RNBW tokens—0.5% of the total supply—will be auctioned, and payments will be accepted in USDC.
After the auction ends, participants may claim their tokens from Uniswap. Additionally, the $RNBW airdrop will become available for claiming within the mobile app, and trading of $RNBW will go live on the Base network.
