The recent hot topics mainly revolve around the PERP DEX, predictive market AI， Another thing is the privacy track that has emerged with the continuous rise of ZEC. Have you all heard of FHE? Homomorphic encryption, a super powerful encryption method, roughly means that when you encrypt data and hand it over to someone else, they can directly add, multiply (or even perform more complex calculations) on the encrypted data without being able to see your data at all. After completing the calculation, they will give you the result, and you can decrypt it to get the correct answer! Simply put, the data is always encrypted, but it can still be used to calculate things. After calculation, it is still encrypted, and only you have the key to see the result. This is the most impressive aspect of FHE, commonly used in scenarios such as cloud computing, privacy preserving AI, blockchain, etc., where data is never exposed. @Zama is a unicorn leader in the field of fully homomorphic encryption, with a valuation of over $1 billion, and plans to launch on the main network and TGE in Q4 2025. This project uses FHEVM technology to achieve on chain privacy computing, which can process encrypted data without decryption, solving the core contradiction between blockchain transparency and privacy requirements. Strong teams, endorsement from top institutions, and deep technological moats are expected to lead the trillion dollar wave of RWA and DeFi privacy. Zama is positioned as a cross chain confidential computing infrastructure, focusing on the application of fully homomorphic encryption (FHE) technology in blockchain. http://zama.ai This project implements end-to-end encrypted smart contracts through FHEVM (Fully Homomorphic Encryption Virtual Machine), enabling developers to build confidential applications on existing EVM chains without the need for users to migrate assets or switch chains. Zama's core advantages: Infrastructure Status: 70% of FHE blockchain projects use Zama technology stack Developer friendly: Solidity compatible, no need for cryptography expertise Performance breakthrough: Compared to 2020, it has increased by 100 times and now supports 20 TPS, with plans for a thousand level TPS Security Model: 128 bit security strength, audited over 34 weeks through Trail of Bits and other sources Zama has 2 rounds of financing Series A (March 2024): 73M, valued at approximately 400M Leading investors: Multicoin Capital, Protocol Labs Participation: Blockchange Ventures、Anatoly Yakovenko（Solana）、Juan Benet 、Gavin Wood（Polkadot/Ethereum）、Sandeep Nailwal Series B (June 2025): 57M, valued at over $1 billion (unicorn) Lead investors: Pantera Capital, Blockchange Ventures Participation: a16z Crypto, CoinFund The collective bet of top encryption native VC reflects strong confidence in the FHE track and Zama team. The co-founder/CEO is Rand Hindi, who previously founded Snips (an AI privacy company acquired by Sonos in 2019). Co founder/CTO is Pascal Paillier, a pioneer in FHE technology and inventor of the Paillier cryptosystem. The detailed token economics have not yet been released, with an estimated circulation of 10-20% and FDV of over 1 billion. At present, it has not been announced whether there are pre-sales/public offerings. Some community activities have received airdrops: Community Activity: Creator Program: Monthly Bonus of 53K, Top 100 will receive rewards • http://Guild.xyz Task, Discord actively participates • Content creation (x/video) earns points Based on its technological strength, team background, capital support, and market prospects, Zama has the potential to become a leader in on chain privacy infrastructure. It is recommended to pay attention to the specific timing and token details of TGE, and participate moderately in testnet activities to obtain potential airdrop qualifications.