zama really as rumored before - auction model 1. Auction method Sealed bid Dutch auction - confidential bidding 2. Sale proportion Total supply 10% (1.1 billion tokens, 110 million tokens) → 8% through auction → 2% fixed price sale after auction (individual cap of $10,000) 3. Timeline (January 2026) • January 12–15: Bidding (4 days, submit/cancel anytime) • January 16–19: Settlement • January 20: Token claim + refund 4. Pricing mechanism • Unified clearing price: All successful bidders pay the "lowest price that sells out" • Floor price: $0.005/token (corresponding FDV $55 million) • No upper limit, bids can go sky-high 5. How to participate • Supports USDC/USDT/DAI • Go to http://auction.zama.org to pre-register Another ICO, out of reach for most people.