Zama is doing a public sale through a dutch auction. Interesting model as you don’t see other peoples’ bids. Which means you have to bid what you think is the real price. The floor is $55m FDV, but there is no cap on the price. The lowest price at which a bid gets filled is the clearing price. To illustrate how it works, let’s say there is only 100 Zama tokens to sell: - user A places a bid for 70 tokens at a $2 price, and pays 70*2 = $140 for it - user B places a bid for 30 tokens at a $1 price, and pays 30*1 = $30 for it - user C places a bid for 80 tokens at a $0.5 price, and pays 80*0.5 = $40 for it - the clearing price is $1, because the whole supply of 100 tokens will have been taken by bidders at or above $1 - user A then gets his 70 tokens, plus a refund for 70*(2-1) = $70 - user B then gets his 30 tokens, plus a refund for 30*(1-1) = $0 - user C is under the clearing price, and therefore get 0 tokens and a refund for his full $40 I am an early backer of @zama.(Route 2 FI)