Don't worry if you missed the CoinList new token offering! Here's a detailed guide on how to participate in Rainbow's on-chain auction on Uniswap

1. Project Overview

Rainbow is a decentralized wallet based on the Ethereum ecosystem, supporting cross-chain asset management, DEX trading aggregation, NFT browsing and interaction, and other features. It emphasizes user-controlled private keys and a high-quality on-chain experience. Rainbow conducted a public sale of RNBW tokens on CoinList from December 11 to 18, 2025, with a price of $0.10 per RNBW, allocating 30 million tokens. The total funds raised in this round were approximately $3 million. Meanwhile, Rainbow will launch an on-chain auction using the CCA (Continuous Clearing Auction) mechanism on Uniswap on February 2, 2026, and will conduct the TGE on February 5, 2026.

2. Team Background

Rainbow was co-founded in 2019 by Christian Baroni, Jin Chung, and Mike Demarais. The core goal of the team is to create a Web3 wallet centered on user experience and design aesthetics. CEO Christian Baroni entered the Silicon Valley design ecosystem early on and previously joined the Stripe design team. This background has led Rainbow to place a strong emphasis on product visual presentation, smooth interactions, and usability from its inception. Compared to tool-oriented wallets like MetaMask, Rainbow emphasizes consumer-grade applications.

Rainbow completed a seed round financing of $1.5 million in 2021 and a Series A round of $18 million in early 2022, led by Seven Seven Six, with Y Combinator, Thirty Five Ventures, and other institutions participating. To date, Rainbow has raised approximately $19.5 million in total. Its long-term vision is to make Rainbow the preferred entry wallet for ordinary users entering Web3.

3. Token Information

The total supply of RNBW is 1 billion tokens. From the tokenomics perspective, RNBW’s distribution favors community and long-term ecosystem development. The token allocation structure is as follows: 47% allocated to the treasury for ecosystem growth and long-term incentives; 15% for community airdrops, with an additional 15% reserved for future community incentives; 3% for pre-sale; and 12.2% and 7.8% for the team and early investors, respectively. RNBW tokens are mainly used for governance, incentives, and user rights within the Rainbow ecosystem.

4. What is the CCA Auction Mechanism

CCA is an on-chain native token issuance mechanism launched by Uniswap Labs at the end of 2025. Its core goal is to achieve fairer price discovery in a decentralized environment and to build initial liquidity simultaneously. Unlike traditional one-time auctions or fixed-price sales, CCA adopts a continuous auction driven by on-chain contracts, with the entire bidding, matching, and clearing process completed on-chain. Importantly, CCA is deeply integrated with the AMM core of Uniswap v4, allowing the funds raised to be directly injected into the Uniswap liquidity pool at the final auction price, thereby linking token issuance with secondary market trading.

Operationally, CCA disassembles the traditional single-point auction into a multi-round, ongoing clearing process. Project teams first configure auction parameters on-chain, including time intervals, number of rounds, token release schedule, and minimum price. During the auction, participants can continuously submit bids at their maximum price, which are automatically distributed across remaining rounds to participate in bidding. At the end of each round, the contract calculates a uniform clearing price based on all valid bids for that round and executes the token sale at that price, reducing issues like front-running and sniping. Bids above the clearing price are prioritized for execution, bids equal to the clearing price are partially filled proportionally when demand exceeds supply, and bids below the clearing price are automatically deferred to subsequent rounds. Since each round’s token supply is fixed in advance, and the bidding funds tend to increase over time, the clearing price generally trends upward. Early bids are more likely to be filled at lower prices, resulting in lower average costs. After the auction concludes, participants can claim their purchased tokens and retrieve any unspent funds. The protocol then injects the raised assets and project-reserved tokens into the Uniswap v4 liquidity pool, enabling secondary trading.

This design, which extends the price discovery process over multiple rounds and disperses the timing of strategic bidding, optimizes common issues in traditional token issuance such as information asymmetry, first-mover advantage, front-running, and initial illiquidity. It makes the token price more aligned with market acceptance and reduces the risk of extreme volatility at launch. The mechanism was first applied to Aztec Network, a privacy-focused Ethereum Layer 2 project, raising about $60 million. As Uniswap continues to improve and explore expanding CCA to chains like Base, it is gradually evolving into a more standardized on-chain issuance solution.

5. How to Participate in Rainbow’s CCA Auction

Step 1: Prepare Wallet and Funds

Set up an Ethereum-compatible wallet and acquire bidding assets (commonly ETH), reserving some ETH for Gas fees.

Step 2: Access the Official Auction Page and Connect Wallet

Once the auction begins, access the CCA auction portal through official channels (currently, Rainbow has not yet announced the official link).

Step 3: Submit Bids

Enter the amount you wish to invest and your maximum acceptable bid price, then submit the transaction. Funds will be temporarily locked and automatically distributed across subsequent rounds for clearing. Generally, earlier bids cover more rounds.

Step 4: Monitor Clearing Price and Adjust Bids as Needed

Keep an eye on the displayed clearing price and your transaction status. If the market price continues to rise and your bids remain unfilled for a long time, you can increase your bid price to participate more actively in later rounds.

Step 5: Claim Tokens After Auction Ends

After the auction concludes and settlement is complete, claim your purchased RNBW tokens on the page. Unspent funds will be returned to your wallet.

6. Competitive Landscape

Overall, Rainbow’s core advantage in the wallet space still primarily lies in its differentiated product positioning. Its long-term focus on consumer-grade experience and visual design has helped establish a certain brand recognition and user stickiness in a highly homogeneous wallet market. In terms of token issuance, Rainbow initially completed its initial coverage and price anchoring through CoinList’s public offering, then introduced the Uniswap CCA auction for on-chain price discovery and liquidity building. This reflects a relatively cautious approach to issuance pacing.

However, it should be noted that CCA, by breaking down a single-time auction into multiple clearing rounds, does mitigate issues like front-running, sniping, and short-term gaming at the mechanism level. At the same time, it increases complexity for participants and reduces capital efficiency. Especially in the current market environment with weak sentiment and limited incremental capital, such complex mechanisms may have uncertain appeal for new projects. More importantly, although CCA relies on the Uniswap v4 ecosystem, its actual adoption scale remains significantly below early-stage AMMs, making it unlikely to generate a breakout similar to early AMM success in the short term. In the long run, whether Rainbow can stand out in the competition depends less on the issuance mechanism itself and more on whether its product strength can continuously translate into real user demand and whether community engagement can be effectively realized after token introduction.