Source References: Code citations link to raw GitHub files pinned to commit 46bad16d.

V4 Dynamic Auction

When to use

• Tasks involving src/initializers/Doppler.sol or src/initializers/UniswapV4Initializer.sol
• Questions about epoch rebalancing, gamma, tick accumulator, slug mechanics, or proceeds thresholds
• Debugging why a dynamic auction rebalanced, exited early, or entered insufficient-proceeds mode

Prerequisites

• Understand token0 < token1 ordering and tick direction
• Know the sale asset and numeraire for the target pool
• Have access to Foundry (forge, cast) and a V4-capable RPC endpoint

Core workflow

1. Decode the initialization config (startingTick, endingTick, gamma, epochLength, numTokensToSell, proceeds bounds).
2. Confirm epoch state (lastEpoch, tickAccumulator, totalTokensSold, totalProceeds).
3. Evaluate rebalance mode for the current epoch:
   • Max adjustment (no/low sales)
   • Relative adjustment (behind schedule)
   • Oversold adjustment (ahead of schedule)
4. Verify liquidity placement across slug classes:
   • Lower slug (refund support)
   • Upper slug (current epoch sales)
   • Price discovery slugs (future epochs)
5. Determine exit path:
   • Early exit (maximumProceeds reached)
   • Success at end time (minimumProceeds reached)
   • Insufficient proceeds (refund path)

Quick facts

Item	Value
Main contract	src/initializers/Doppler.sol
Precision constant	WAD = 1e18
Rebalance trigger	beforeSwap when entering a new epoch
Max price discovery slugs	15
Exit model	Proceeds-driven (not far-tick-driven)

Failure modes

• Tick misinterpretation from wrong token ordering
• Incorrect epoch assumptions when lastEpoch has not advanced
• Invalid parameter tuning (gamma too aggressive, epoch too short)
• Misreading insufficient-proceeds behavior as a hard failure

Verification hooks

• Auction state: see ../verification/references/CAST.md
• Math conversions: see ../verification/references/VIEM.md
• Event-driven analysis: see ../verification/references/EXPLORERS.md

References

• FLOW.md
• PARAMETERS.md
• FORMULAS.md
• GOTCHAS.md
• Source: doppler/src/initializers/Doppler.sol, doppler/docs/Doppler.md

Related skills

• v4-multicurve-auction
• fee-architecture
• verification
• uniswap-fundamentals