In a recent auction on the Hyperliquid platform, the Swell (SWELL) token was sold for $420,000, surpassing the previous “RIFT” transaction price of $385,300. According to data from Hypurrscan, the sale took place on December 28. This development highlights the growing interest in token auctions on the Hyperliquid platform.
Hyperliquid’s Dutch Auction Process
Hyperliquid’s token listing process involves a 31-hour Dutch auction, where the token deployment fee decreases linearly from the initial price to $10,000 in stable currency (USDC). If the auction is successful, the token is listed on the Hyperliquid spot market. If the auction fails, the initial price reverts to $10,000 in stablecoins. Otherwise, the starting price of the next auction is set at double the previous price.
Source: BlockBeats news
Source: M.theblockbeats.info
