Interfold Launch Primer

How to Participate in the FOLD Auction

A practical guide to registration, eligibility, bidding, claiming, and safety for the FOLD auction on Uniswap.

The initial public distribution of FOLD will take place through a Uniswap Continuous Clearing Auction, or CCA.

This guide explains how to prepare, how the auction works, and what to expect before and after bidding. It is intended as a practical launch primer.

Official participation links, contract details, and final instructions will be published only through verified Interfold channels.

⚠️

As of this post’s publication, the auction is not yet live. Treat any link currently claiming to offer access to the FOLD auction or FOLD tokens as fraudulent. Official participation links will be shared through verified Interfold channels before the auction opens.

Before you participate

Before bidding, participants should confirm that they are using the official auction page, understand the key dates, and complete the required eligibility and verification steps.

Use verified Interfold channels

Official participation links, including the Interfold auction page and verified Uniswap CCA interface, will be shared through verified Interfold channels before registration opens.

Bidding will take place through the official Uniswap CCA interface, not through an Interfold-hosted bidding frontend.

Do not follow links from DMs, unofficial Telegram accounts, impersonator X accounts, or copied contract addresses.

Official Interfold verified channels are:

Key dates

The FOLD auction sequence includes several distinct phases.

July 6–7: Pre-bid and registration/verification window for eligibility checks and bid preparation.
July 8 (10am ET): FOLD auction begins on Uniswap and runs for 48 hours after opening
July 10 (10am ET): FOLD auction ends. Successful participants are expected to be able to claim through the official Uniswap auction interface.
40-day cooldown: FOLD purchased through the CCA is restricted during this period, except for ciphernode bonding.
August 19: Scheduled date for FOLD transferability and current target for TGE, subject to official terms and final launch conditions.

These phases are related, but separate: The FOLD auction is a token distribution event. TGE marks the beginning of token transferability. Network Alpha is the staged rollout of the network itself.

Eligibility and Verification

The FOLD auction is available to eligible participants, subject to jurisdiction, verification, AML/sanctions screening, and other applicable restrictions.

All participants must complete KYC through Predicate, Interfold’s third-party verification provider, to verify their jurisdiction and screen for AML/sanctions.

Additional restrictions may apply based on jurisdiction, residence, citizenship, entity status, sanctions screening, or other legal requirements.

Eligibility requirements are subject to official terms and the verification process.

How the Uniswap CCA works

A Continuous Clearing Auction, or CCA, is a price-discovery mechanism for token distribution built on Uniswap infrastructure.

In a CCA, tokens are distributed progressively across multiple discrete periods. Participants submit bids, and successful bids within each period clear at the same uniform price.

In the auction, the minimum price for each subsequent period is the greater of the original floor price or the previous period’s clearing price. As a result, the minimum price may rise in later auction periods, but it does not fall from one period to the next.

Any tokens not distributed earlier remain available in the final period.

The CCA is designed to reduce gas competition, limit last-second sniping dynamics, and allow clearing prices to develop through auction participation.

How to place a bid

When participating in the auction, you set two things:

Max FDV: This is the maximum price you are willing to pay per token.
Maximum budget: This is the maximum amount you are willing to spend in the auction.

During the auction, bids are evaluated against the clearing price. Your bid will be filled if it is priced at or above the clearing price in any given period. If demand exceeds available tokens at the clearing price, bids at the clearing price will fill pro rata.

It’s important to note that your budget is spread across the auction. Once the auction clearing price exceeds your max FDV, your bid will no longer be in range. At that time, you may be able to claim unused funds and rebid through the official interface.

A higher max FDV may keep a bid in range for longer, but participants should only choose a max FDV and budget that reflect what they are personally willing to pay. Successful bids within the same clearing period pay the same clearing price, regardless of the max FDV set above that price.

Registration and pre-bidding

The registration and verification window from July 6–7 allows eligible participants to complete verification and prepare for bidding before the auction opens.

Pre-bidding allows eligible participants to have their bids active from the beginning of the auction. Because the CCA clears progressively and later periods may have higher minimum prices, an early bid may make participants eligible to fill in earlier clearing periods.

Pre-bidding does not guarantee an allocation or a lower price. Participants should only set a maximum price and budget that reflect what they are personally willing to pay.

What “out of range” means

A bid becomes out of range when the auction clearing price rises above the maximum price you selected.

When a bid is out of range, it is no longer eligible to keep filling at the current clearing price. Once your bid is out of range, unused funds may be withdrawable and available to rebid during the live auction.

What happens after the auction?

After the auction concludes, successful participants will be able to claim their FOLD and any unused funds through the official Uniswap auction interface.

FOLD purchased through the CCA will then be subject to a 40-day cooldown period. During this period, general transfers are restricted. FOLD may be used for ciphernode bonding.

After the cooldown period ends, general transferability is expected to begin. August 19 is the scheduled date for FOLD transferability and the current target for TGE, subject to official terms and final launch conditions. Read the FOLD tokenomics doc for more.

How FOLD fits into the network

FOLD supports the economic operation of the Interfold network.

Within the network, FOLD supports ciphernode bonding, E3 request economics, operator rewards, and governance.

Ciphernodes are the operator layer of the Interfold network. Operators bond FOLD, along with a stablecoin, to become economically accountable for correct network participation.

Applications request Encrypted Execution Environments, or E3s, while ciphernodes help coordinate each computation through distributed key generation, execution coordination, and threshold decryption.

For more detail on FOLD’s role in the network, read Understanding the FOLD Token:

Safety checklist

Before participating, make sure you are using official links and understand the auction process. Other noteworthy items:

Use only the official auction page
Do not trust links sent by DMs.
Do not interact with unofficial contracts.
Do not send funds to addresses shared by impersonators.
Verify updates through Interfold’s official website, official X account, or official documentation.
Complete KYC only through the official flow.
Review eligibility requirements before attempting to participate.
Understand your maximum budget and maximum price before placing a bid.
Remember that the auction is followed by a 40-day cooldown period before general transferability is expected to begin.

Official resources