According to Foresight News , The Block reports that the crypto privacy protocol Zama will launch an on-chain token sale through CoinList and its own auction application, with a fully diluted valuation (FDV) floor of $55 million. The sale will utilize a sealed-bid Dutch auction structure, allocating 12% of its total token supply of 11 billion tokens. This 12% token sale is divided into three parts. Prior to the main auction, a 2% community token sale will be held this week for Zama NFT holders; from January 21st to January 24th, an 8% sealed-bid Dutch auction will be conducted in partnership with CoinList; and from January 27th to February 2nd, a final 2% post-auction sale will take place at the auction liquidation price.
This main auction will be conducted on the Ethereum mainnet using a sealed-bid Dutch auction format. Bids will be placed in descending order, and the lowest price at which tokens are ultimately allocated will be the settlement price paid by all successful bidders. The reserve price for this auction is $0.005 per token. Tokens purchased in the auction will be fully unlocked, and token redemption will begin on February 2nd.
In response, Zama stated that CoinList is simply another platform for submitting bids to Zama's public auction, coexisting with bidding through other channels. The auction results are settled once for all bidders, with CoinList users who receive token allocations paying the same final settlement price as all other successful bidders.
