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What things will be traded on that auction part? I tried

to look for some information from the chat above, and what I found are kinda blurry ideas

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Any trade that happens with collateral tokens is a good example. Let's say an RToken currently consists out of USDC, TUSD & USDP and governance votes to swap TUSD for DAI, then we need to sell the TUSD for DAI - I believe this is a scenario where auctions come in.

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