The market is poor, and the weight of KOLs and the community has also decreased significantly.

@zama has announced the latest news about the token Dutch auction. It seems that the airdrop that everyone was looking forward to might be canceled. I've heard that the NFT will continue into its fifth season, so I'm asking if you're afraid or not.

Dutch Auction Rules
Token Distribution: 10%
Base Price: 0.005 / coin (FDV 55 million USD)
8%: Sealed Dutch Auction
2%: Fixed price purchase after the auction ends (limit of $10,000 per person)

Timeline
January 12–15: Auction Bid
January 16–19: Settlement & Refund
January 20: Claim Tokens

Link:

Why is it going live at this time?
In summary, the reason Zama chose this window for the TGE is because it coincides with the intersection point of three strategic pressure lines:

1⃣The mainnet is ready, delaying further will result in missing the opportunity.
Mainnet launched in December → Auction in January → Token claim on January 20
The privacy track is quite unique, everything depends on implementation, and the role of the mainnet is very important; it is also a part of demonstrating strength.

2⃣ Competitor Aztec has already completed its token sale.
Aztec completed a 15% CCA auction in November.
If Zama is delayed to Q2 2026 for launch, the narrative window will be completely locked.
To maintain its position in the battle of routes between FHE and ZK, Zama must: go live on the mainnet → TGE within a month.

3⃣Market downturn and regulatory pressure have instead stimulated demand for privacy.
The expectation of tightening global cryptocurrency regulation may lead to an upward cycle in the privacy sector. Zama is launching at this time, just at the right moment.

Why does the unicorn that just received $100 million in funding still want to sell tokens?
On the books, Zama's true financial condition is very healthy.
Total financing: $130 million (5 rounds)
2024 Series A: 73 million (Multicoin / Protocol Labs)
2025 Series B: 57 million (Pantera / Blockchange) valuation 1 billion USD
Team size only 51–100 people

Therefore, Zama's cash reserves are very abundant, and it feels like this token sale is a "community distribution", and then let the market set a price for the tokens.

It is estimated that the team is also making long-term plans for "surviving the winter," directly filtering out the early community's airdrop shares and slowly playing with the money after the TGE.

#ZamaCreatorProgram #zama