Zama organized a Dutch Auction with an encryption bid, 10% Token directly unlocked.

[Chain Text] Zama is going to hold a somewhat interesting Token auction - 10% of ZAMA Tokens will be released through a Dutch Auction, but the gameplay is different: all bids are encrypted, using their own FHE technology.

This mechanism design is quite clever: first, it eliminates the possibility of scientists jumping the gun and gas wars, as everyone cannot see others' bids and can only act based on their own judgment; second, it directly unlocks after the auction without using the linear release routine. The auction is scheduled to take place from January 12 to 15, 2026, and the coins can be claimed on the 20th.

The ZAMA token is not purely a governance coin; it has practical uses within the protocol—paying for the encryption and decryption fees of FHE coprocessors, staking to node operators, and maintaining KMS node security. In simple terms, it adds a layer of confidentiality to the existing L1/L2, with the entire data processing process being encrypted.

Background information: Zama just secured a $57 million Series B led by Pantera Capital in June this year, with a valuation directly reaching $1 billion. They said the mainnet will be launched by the end of the year, at which point the Token functions will be fully activated.

The combination of Dutch Auction and secret bidding can indeed make price discovery more authentic, at least without worrying about being targeted by large players.