zama should be nearing its TGE soon. It's a privacy add-on with strong practicality. Once deployed on Ethereum, we can check the usage data, which can indirectly verify the real demand for on-chain privacy in the current market. In terms of design, it's not a privacy chain but a privacy layer that attaches to existing L1/L2. The difference between this and some existing privacy transaction tools is that programmable privacy can be directly applied at the smart contract level. For example, in a token privacy auction, each participant's bid remains confidential during the auction process. After the auction ends, winners are determined based on bids from highest to lowest. This approach not only improves price discovery efficiency but also prevents cheating and market manipulation. This programmability can directly penetrate the application layer—privacy AMM, privacy lending, and similar use cases can be achieved by simply layering zama. According to the litepaper, the plan is to launch on Ethereum mainnet + TGE in Q4 2025. The economic model is very straightforward: pay-per-use. A standard privacy transaction costs around $0.008–$0.8. For more complex needs involving multiple encryptions or decryptions, the cost will increase. The fee fluctuation model is usage-based—the more you use it, the lower the fees. All fees generated are burned. This is a product that ties its economic model directly to real privacy demand.