Zama: Will hold a public auction from January 12th to 15th to sell 10% of its ZAMA tokens.

Odaily Planet Daily reports that crypto company Zama officially announced on the X platform that it will hold a public auction, specifically a Dutch auction on Ethereum using secret bidding, to sell 10% of the ZAMA supply. The Zama protocol itself will ensure the confidentiality of the bids and FHE (Fully Homomorphic Encryption). The key points are as follows: guaranteeing fair allocation and true price discovery; preventing bot attacks or gas wars; and immediate token unlocking.

Auction period: January 12 to 15; Application period: January 20.

ZAMA is the utility token of the Zama protocol, which is a privacy layer on top of existing L1/L2 protocols.

◼️Pay encryption and decryption fees

◼️Pledge or entrust to the operator

◼️Help protect FHE coprocessors and KMS nodes

The mainnet is expected to launch before the end of the year, and the ZAMA token will be fully functional before the auction.

Previously, it was reported that crypto company Zama completed a $57 million Series B funding round, led by Blockchange Ventures and Pantera Capital.