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BCH $525.41 +2.26%
LINK $8.44 -1.39%
HYPE $30.54 -0.90%
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ZEC $232.79 -2.82%

coinlist

Zama will launch its token sale through CoinList and its own auction app, with a floor price of 55 million USD for FDV

According to market news, the crypto privacy protocol Zama will launch an on-chain token sale with a fully diluted valuation (FDV) cap of $55 million through CoinList and its own auction application, using a sealed-bid Dutch auction structure to allocate 12% of its total supply of 11 billion tokens. This 12% token sale is divided into three parts.Before the main auction, a 2% community token sale will be held this week for Zama's NFT holders; from January 21 to January 24, an 8% sealed-bid Dutch auction will be conducted in collaboration with CoinList; and from January 27 to February 2, the final 2% will be sold at the auction clearing price. Although CoinList is the issuance partner for this main auction, the sale is not limited to that platform.Participants can also bid through Zama's own auction application. The main auction will take place on the Ethereum mainnet in the form of a sealed-bid Dutch auction. Bids will be executed from high to low, with the minimum price for token allocation being the clearing price that all successful bidders must pay. The reserve price for this auction is $0.005 per token, resulting in an FDV of $55 million based on Zama's total token supply.CoinList President Scott Keto stated that Zama's sale marks CoinList's first fully on-chain, non-custodial token sale. The Zama auction is also a practical application case of the protocol's fully homomorphic encryption technology, which allows for computations on encrypted data. Zama noted that while the auction is executed on-chain, the number of bids remains end-to-end encrypted, preventing participants from seeing each other's positions while maintaining on-chain auditability.
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