Zama launching token sale at $55 million floor FDV via CoinList and own auction app
Zama is conducting a token sale with a $55 million floor FDV using a sealed-bid Dutch auction via CoinList and its own app.Summary
Zama, a crypto privacy protocol utilizing fully homomorphic encryption (FHE), is launching a token sale distributing 12% of its 11 billion ZAMA supply with a $55 million fully diluted valuation (FDV) floor. The sale is structured as a sealed-bid Dutch auction running from January 21 to January 24 via CoinList and Zama's proprietary auction app, which allows bids to be placed non-custodially and privately on the Ethereum mainnet.
The 12% allocation is split: 2% for Zama's NFT holders this week, 8% for the main CoinList/Zama auction, and a final 2% post-auction sale. This event marks CoinList’s first fully onchain, non-custodial token sale, signaling a shift in their infrastructure. Zama emphasizes this is a distribution mechanism to seed users and validators, as the token will be immediately usable upon distribution for staking or paying encryption fees.
The sealed-bid format aims to prevent front-running and gas wars by filling bids from highest to lowest price, with all successful bidders paying the lowest clearing price. Zama has previously raised over $150 million, and if this distribution is successful, they plan to offer their onchain auction infrastructure to other projects.
(Source：The Block)