Dutch Auction

• From Wikipedia:

"A Dutch auction is one of several similar kinds of auctions. Most commonly, it means an auction in which the auctioneer begins with a high asking price, and lowers it until some participant accepts the price, or it reaches a predetermined reserve price. This has also been called a clock auction or open-outcry descending-price auction. This type of auction is good for auctioning goods quickly, since a sale never requires more than one bid."

• Is used by several DEX's and other DeFi projects. Examples are: Set, DutchX and Expo.