The uniform price Dutch auction is set up to discover a fair price for a fixed amount of AdEther tokens. It starts with a very high price which continuously declines with every block over time, based on a predefined formula. After the auction is started, participants can send in ETH to bid. The auction ends once the price multiplied with the number of offered tokens equals the total ETH amount sent to the auction. All participants receive their tokens at the same final price.
The main goals of the auction are to enable everyone to participate while offering certainty about the maximum total value of all tokens at the time of the bid. The auction should run for multiple days, before it ends which should ensure, that no one needs to rush in order to participate. Further, when participating, a bidder knows the maximum price he or she is going to pay for tokens as well as the max value of all tokens.