Gradual Dutch Auctions (GDAs) are a way of efficiently selling multiple items.
Like the more familiar Dutch Auction, a GDA starts prices high, and then adjusts lower over time. The one difference is that the price jumps up every time a token is sold. For more math details, see Paradigm's original paper.
To create a new auction, head over to https://sudoswap.xyz/#/auction/create.
Select the collection you want and the starting price. Then you can choose how quickly you want the price to change over time, as well as the deposit amounts.
After creating the auction, you're good to go. The pricing will automatically adjust over time, with no further action needed.
Creators can use GDAs to launch new collections or list existing ones. The price decay helps ensure that all items eventually get sold. It can also help enable unique launch mechanics. For example, you can automatically stream auction proceeds to seed two-sided liquidity for a collection.
GDAs can also be used for buy-only pools. In this case, your buy price grows over time, but drops slightly whenever a token is sold. This can be an attractive option if you want to scale into a large NFT position, using a price strategy that self-corrects.
Because prices can automatically adjust, GDAs are also a great choice for protocols, DAOs, or multisigs that are looking to liquidate or acquire assets over time, without directly market buying or getting frontrun.