Aurora Intents processed more than $19 million in capital across 1,718 swaps for the zkSNARKS NFT auction. This transaction volume accounted for over 50% of the total $36.94 million deposited by participants into the Zcash (ZEC)-denominated auction.
Aurora Labs CEO Declan Hannon confirmed his company’s share. “Aurora Intents processed just over $19 million of the $36.94 million deposited for the auction, settled through 1,718 swaps,” Hannon said, referring to the final auction data.
Closed Order Book for 8,000 Assets
Auction participants submitted a total of 16,971 bids competing for the 8,000 available zkSNARKS assets. Cumulative bidding volume surpassed 25,305 ZEC, equivalent to $36.94 million at the time the auction price was locked in.
The auction utilized a sealed uniform-price format, preventing bidders from viewing the full order book during the bidding phase. In the end, the clearing price settled at 1.5 ZEC per asset. All 8,000 winning bidders paid a uniform price at that threshold.
Total auction settlement accounted for 12,000 ZEC for completed sales. The remaining approximately 13,309 ZEC, valued at $19.43 million, was returned to participants. These funds were refunded to losing bidders as well as those who bid above the clearing price in accordance with auction rules.
USDC Dominance and the Solana Route
Stablecoins supplied the largest share of the value converted by Aurora into ZEC. USDC led the pack, contributing 27% of the total funds across four different networks, with Solana making the largest contribution.
Native ETH ranked next as a key source of liquidity. The Ethereum token served as the second-largest individual asset source, representing 21% of all auction volume flowing through Aurora’s infrastructure.
For users who made deposits but had their bids outpriced, eligible assets associated with unsuccessful bids are now subject to the auction’s full refund policy. Reported by crypto.news.
Also read: What Is an NFT and How Does It Work?
Also read: Global NFT Volume Drops to $37.5M - But Why Did Buyer Numbers Surge 174%?
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
