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<h3>Fireline Report</h3>
<p>zkPASS is a privacy KYC project based on ZK. Kaito launched the new issuance on October 27, with FDV priced at US$100 million, 50% unlocked by TGE, and linearly released over 3 months, endorsed by top institutions.</p>
<h3>Trading Guide</h3>
<p>Driven by events, in the short term, pay attention to the changes in liquidity before and after TGE and the 100M valuation range. If there is over-subscription or rule changes, be wary of the failure of FOMO sentiment.</p>
<p style="margin-top: 20px; text-align: left; opacity: 0.4; padding: 0 42px"><small>Updated at 10-25 23:10</small><br><small>AI-generated summary, not investment advice</small></p></div>

<h1>zkPass ($ZKP) Token Sale Analysis</h1><h2> Core Information</h2><p> <strong>Launch time</strong> : October 27, 2025, 12:00 UTC, <a href="https://x.com/top7ico/status/1981728611338997904">x.com</a> on Kaito Capital Launchpad</p><p> <strong>Valuation</strong> : $100 million fully diluted valuation (FDV), target fundraising of $2 million, representing 2% of total supply</p><p> <strong>Token Symbol</strong> : $ZKP</p><h2> Sales Details</h2><table><thead><tr><th> project</th><th> Details</th></tr></thead><tbody><tr><td> <strong>Sales Platform</strong></td><td> Kaito Capital Launchpad</td></tr><tr><td> <strong>FDV valuation</strong></td><td> $100M</td></tr><tr><td> <strong>Target Fundraising</strong></td><td> $2M</td></tr><tr><td> <strong>Allocation range</strong></td><td> $1,000 - $250,000 per user</td></tr><tr><td> <strong>Unlocking mechanism</strong></td><td> 50% unlocked at TGE, 50% unlocked after 3 months</td></tr><tr><td> <strong>Sales period</strong></td><td> October 27 - November 6, 2025</td></tr></tbody></table><h2> Allocation Mechanism and VRS System</h2><p> zkPass uses an innovative <strong>Verifiable Reputation Score (VRS) system</strong> to determine allocation priority, rather than the traditional first-come, first-served model. VRS uses zero-knowledge proof technology to evaluate users’ verification activities on multiple platforms, including:</p><ul><li> Binance KYC Verification</li><li> LinkedIn professional profile</li><li> GitHub code contributions</li><li> Duolingo Learning Record</li><li> CEX Exchange Balance Certificate</li></ul><p> <strong>VRS user data</strong> : Since the launch of the VRS system, more than 6,500 users have verified their internet footprint on BNB Chain <a href="https://x.com/zkPass/status/1581584568370299233">.</a></p><h2> Project Basics</h2><h3> Technological advantages</h3><ul><li> <strong>zkTLS Oracle Protocol</strong> : Converting Private Web2 Data into Verifiable On-Chain Proofs</li><li> <strong>Three-party TLS design</strong> : combining multi-party computation (MPC) and zero-knowledge proof</li><li> <strong>Privacy protection</strong> : All proofs are generated locally and data does not leave the device</li></ul><h3> Funding</h3><p> <strong>Total funding</strong> : $15 million, raised in three rounds</p><ul><li> <strong>Series A</strong> (October 2024): US$12.5 million from investors including Animoca Brands, Signum Capital, Amber Group, and others</li><li> <strong>Seed round</strong> (August 2023): $2.5 million, led by YZi Labs (formerly Binance Labs)</li></ul><h3> Key investors</h3><ul><li> YZi Labs (formerly Binance Labs)</li><li> OKX Ventures</li><li> Animoca Brands</li><li> Susquehanna International Group</li><li> Sequoia China (now HongShan)</li></ul><h2> Protocol adoption data</h2><table><thead><tr><th> index</th><th> Numerical</th></tr></thead><tbody><tr><td> <strong>Total number of generated proofs</strong></td><td> 5 million+ ZK proofs</td></tr><tr><td> <strong>VRS Active Users</strong></td><td> 6,500+ verified users</td></tr><tr><td> <strong>Supported data sources</strong></td><td> 70+ platforms</td></tr><tr><td> <strong>Partners</strong></td><td> 500+ ecological partners</td></tr><tr><td> <strong>Community size</strong></td><td> 239,000 followers on Twitter, 157,000 members on Discord</td></tr></tbody></table><h2> Community sentiment</h2><p> The community has shown positive reaction to the zkPass token sale. Investors believe the $100 million FDV is reasonable given the project&#39;s technological innovation and strong investor base. Compared to the $8 billion+ valuations of established identity projects like Worldcoin, <a href="https://x.com/ibcig/status/1980901163290824744">zkPass</a> is seen as an early-stage investment opportunity with asymmetric upside potential.</p><p> The community is particularly optimistic about the innovative nature of the VRS system, believing it can effectively solve the Sybil attacks and <a href="https://x.com/Abrahamchase09/status/1981373035622854777">robot</a> problems in airdrops.</p><h2> Risk Reminder</h2><ul><li> TGE is expected to take place in December 2025, and the tokens have not yet been officially issued.</li><li> Need to complete KYC verification and US Qualified Investor certification (if applicable)</li><li> Participation requires the use of USDC on the Base mainnet</li><li> Users in some regions are restricted (including China, the United States, Canada, etc.)</li></ul><p> <strong>Note</strong> : This analysis is for reference only and does not constitute investment advice. Please do your own research (DYOR) before investing.</p>
